Replies to post #45194 on ETF SWING & DAY TRADING

[gloe]

OT. Thanks for the explaination. You can always label your posts OT. That was a good entry long. Looks like you got the low tick. I read airdale, but I have a hard time predicting when the "end" on the cycle is. I am reading Andre Gratian, but I am not too impressed. Last Thursday, with another gap up, he declared that the 10 week cycle low had passed us by, and that "all the negative divergences have been erased" by another gap up. I looked at my 120 min charts with that horribly bearish divergent chaikin, and just shook my head in amazment. I still intend to e-mail him about it. Maybe I can give him some tips about reading money flow. :)

I am glad you had a good experience with your shorts and now your longs. If you are flying by the seat of your pants, your trousers must be made of gold!!

[Huluriasquias]

Sorry, I got the chronology wrong.

This is the correct version:

gloe,

I'm reluctant to post much because:

1) My method is mostly intuitive. (But I understand it more by trying to explain it)

2) This is a NERS board and I don't want to confuse people. (Much)

3) When it goes against me I'm in no mood to post and it looks like everything I do is great. (Hardly)

That said:

- I try to fade extremes.
- It's very important to know which way the market is heading and for that I use methods I learned from Airedale88.


For last week I had Friday as a (10w) Low. We are extremely right translated and Wed. was strong so I waited till Th. to unload the longs and start going short. Then I read your post and went heavely short. (We talked about that)
That Th. I rode the shorts all the way down and exited nicely near the lows. (Lucky)
I was flat Th. overnight. But I expected a retest of the lows. (We talked about it)
So Friday I was shorting lightly most of the day and I carried several contracts short overnight.
It paid out at Monday opening and a couple of hours into the day I closed all my shorts and declared that the easy money for the day was done. (I also decided that the "Airedale" botton was fullfilled and that the direction was up from that moment on). So during Tuesday I started slowly buying longs (and suffering) reaching yesterday close with several shorts and about 20 ticks underwater. (No big deal)

I stayed long overnight because I think the botton is past, and also had lots of faith in Intel. (I didn't know YHOO was also reporting)

Uffffff. That was a tirade.

(I just bought one long at 833.10 - I had a limit buy)

H.

New note: I have another limit buy at around 831. (Not fullfilled yet)