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kiy

10/23/12 8:56 PM

#3386 RE: bobjack #3385

expire in 3 days...LOL...
NOOOOOOOOoooo...take your money to the local casino and play craps pass or don't pass...would have better odds 3 days isn't even enough time for price to test each side of its average true range=and then decide direction...and if you are playing the average true range you're just playing with normal noise...too easy to get into a gambler's way of thinking...
You've got to be willing to give the trade some time with a stop loss...
We very well could be at or near a bottom...so you go early you need wider stops and more time...
Nothing wrong with front running daily=if daily shows hints of turning and ready for up=5,3 and 10,3 stochastics...right now that 30/60minute is likely just normal range/ATR noise... testing support/resistance for when daily shows signals of ready...

Did DOW get hammered today...lay offs happening...IS $28 going to hold...?...
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kiy

10/23/12 9:36 PM

#3388 RE: bobjack #3385

CAT
Break a bad habit you have to put 3 new habits in the gamblers new rule book.
Only can trade the direction of the daily bias...IF these 3 things happen...not 2 and not one...you need alllll 3 on your side..
1. CCI indicator crosses its 6 or 7 moving average suggesting an out of the money option play is setting up...get ready...
2. ULT has to have crossed the oversold or overbought signal line...
3. The %B averages have to be on you side...
ALLL 3 first before you look at 30/60 minute...
Only trade direction of daily BIAS and an added confidence if S&P also agrees in direction BIAS...and no screwing around with these indicator's settings to speed them up...