Tuesday, April 28, 2009

This is what I am seeing and trading.


Target 25 pts below 857.

19 comments:

  1. no clear break on the 30min above that trendline.

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  2. thanks Chris. I think you are right.

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  3. need to make it below 857 now or pattern invalid. If we rally back towards top we will go higher.

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  4. This is thirad attempt to go above HOD. May be next down leg it breaches 857

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  5. yeah thats why I was saying it cannot attempt the high now, if it does we break it and will not see 857 break.

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  6. there is no liquidity in the market. Dropping 3 points on no volume in less then a minute. Quite crazy.

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  7. sorry for the newbie question. What's HOD?

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  8. red bars are geting biger than green ones. my gut syas we do break 857 this time. i have kept my stoploss a tad further so whipsaw does not take you out. Got to have faith sometimes.

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  9. but no volume. All it needs is one GS buy program and we get 10 pts on the upside.

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  10. here comes the fourth attempt.

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  11. Chris, are you looking for confirmation on 30 minute chart?

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  12. back from dinner all stopped out.

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  13. I am still in SRS around 25 and FAZ at 9. stop st 24 and 8. let us see how this pans out.

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  14. [shakes head] ... what a market. I need to change my rule for new positions after 3:00 when they are that obvious (back down into previous trade bracket).

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  15. It is trying to stay above 857

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  16. If it closes at this level or below i will add more shorts around closing time or after market

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  17. Again the 20 EMA crossed 50 ema downward. tomorrow should be down day and break 845

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