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1330, here we come, and by the looks of things, this could arrive by mr cash's 27/7-27/30, how nice
jwg, we already hit 1391
For now, soxx down over 2%, the only thing keeping the djia up is MSFT up 3.3%, for now just watching, unsure of the st direction
I don't know Steve, MSFT comes out with 'great news' Greenspan gives the economy the green light, Futures sky high over night, and 2 1/2 hrs into the day soxx -1.2% SMH -0.9% NDX red...doesn't bode well, if the semis don't turn, no way we rally. Might have a nap myself :)
Thanks Mr Cash, looks like I'll have a little bed time reading tonight! THX
I've noticed that you make many swing trades during the day, that's great, your system seems to work for you. My time frame is a bit longer. I look to enter positions and hold them for 2-5 days, I scale into the position over many entry points and exit in one trade, feel comfortable that way. I trade OTM options mostly so timing is everything :)
JWG, do you use cycles in your trading? I have no knowledge of this what so ever. From a wave perspective, the count is ugly if we have just completed 1 down. What I mean by that is that the formation itself is difficult to label and therefore that makes me wonder just how valid it is. I think the true nature of the formation will be much clearer in the next few days upon the next retrace/decline. I appears as thought we will gap up in some sort of iii of 3 and there is a good chance that we 'top' today. Will this end up being 4 with 5 to arrive by 27/7-30/7 cycle bottom as Mr Cash pointed out and Bradley turn date?/ Interesting times for sure.
Interesting that cycles date and Bradley date coincide, unless Bradley is using cycles to determin these dates as well.
Yikes! downs 20% pre-market.
MR CASH, I know nothing about Hurst cycles but I do enjoy redaing your posts. I am just wondering about the 10 week cycle low due 7/27-7/29, must this be a 'new low' or just some type of consolidation for the cycle to be considered valid?
Thanks
SMH up BIG after HRS. Never thought we would end this high. If semis can lead the way, we're off and running.
i think 2:30 Steve, ndx still goin' up, slow grind 'till 2:30 towards 1410 then rally, could be...but I won't be buying calls just yet.
sure is quite here today, jwg, has your 2 week trial already ended?
with everyone buying calls, everyone expecting a bounce, only one way to go.............
VIX is still very low, no real fear, low volume, we need one more wave down on high volume, a sign that many are taking their lumps and losing hope as we make fresh lows on compx, ndx, spx, and djia, then we can rally from some sort of lt/st 'bottom', this is just imo of course, Steve, your thoughts of a st rally to 1425 are note out of reason th
HA! We'll know soon enough Steve. I think it needs one more hard down wave before we see any real upside. One final kick in the teeth!
Frank, you read my mind :)
No, I'm bitter, My order for AUG 30 puts
on SMH did not get filled @.45 now .50-.55
so I will sit this one out. I don't think
1380 will be broken on this decline. I may
go long calls there but I would rather short
tops than buy bottoms on this run. For now
just watching.
What do you mean, 'shoveled it'?
which author??
jwg, where did you get this chart?
http://img1.exs.cx/img1/7345/lansingsox.gif
I really though at the open that with the break of 1425 we would rally to 1440, 1390 certainly in play, or lower?
Guess we'll all be studying the charts over the WE
Hi jwg, hust got in, i never trade on the friday of oex.
wow! smh took it in the teeth again.
looking over charts right now
thanks for the charts TL trader
nope, that's why I'm still flat.
HA! no jwg, flat since yesterday. Tough to call right now. Conditions are so oversold, you'd think there might be a rally st, but looks like a break of 1400 is likely. so, like many i assume, i'm waiting for a clearer indication.
Looks like today is the day we break 1400 to the downside. I
will be a buyer in the 1390 area, maybe. Being long calls just isn't in vogue right now
nas won't rally without the semis
I think you'll be quite happy with that entry point jwg.
seriously reminds me of 2 weaks ago when yahoo was down 10% after they reported, the next day, the market took it pretty well. apart from the semis, market is much better than i would have thought
maybe the djia but not intc and smh
LOL RSI model will be a screaming buy at the close (again)
;)
nah Frank! its all good, we're at a tough point here, the safe smart thing is to see what transpires here.
VD long
;)
ok Frank, i'll go back and check it out again, thanks
good move - I see Bliss is still bullish, go Bliss!
I was way short the night yahoo reported. they were down 10% after hrs and futures were way down. I got out of my smh short by the skin of my teeth!! although I slept like a baby the night before Zzzzz$$$$ LOL
I don't understand this count Frank.
I agree Steve, I was expecting worse, although, alot can happen by 9:30 am
Nice play jwg. im not so sure AH action will give a good indication of tomorrows action. yahoo comes to mind :)
LOL, so tell us Bliss, to which side are you leaning, bull or bear!! ha!
I think I saw that post on the ST TA board as well. I trade SMH, NDX, QQQ. The spreads on NDX are a killer.