TraderGirl wrote:transports sitting at resistance...still a little room, can get up to 5680ish....
watch TRAN when a pull back start, if Tran pull back before SPX ever made a new high above 07-08 that will be a mother bear divergence that no one talk about. this is long term stuff, so it doesn't mean anything now for a short term trade.
I think there are people other than myself that hold for more than a couple of days...Once we start to turn down, we could be down into end of Feb early March....
volume surge, may see pullback here but this bull has legs. also I consider target met.
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Agree I think many people can be confused just because of time-frame, I think we are talking here mostly about intraday or few days they don´t see other activity what you/we are doing. Like Harapa mentioned that he felt like only bull here, I can speak for myself I am heavily long (long term) from november (download/file.php?id=32752&mode=view) then I hedged it with XIV just before "fiscal cliff" unloaded and added medium term longs before "fiscal cliff resolution" (viewtopic.php?f=2&t=778&p=111493#p111493) Now I am looking to unload medium terms longs and add HEDGE shorts...so I think this is how it is with other traders posting here as well IMO...it is all about timeframe
yes sir, time frame and recognize that nothing gone straight up or down. with the exception of today's intraday.
My comments are for entertainment/educational purpose only. NOT a trade advice.
BullBear52x wrote:
yes sir, time frame and recognize that nothing gone straight up or down. with the exception of today's intraday.
Yep, today it is a train or third wave in elliott wave terminology best market phase for daytraders
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
My mistake, I thought the "Morning Black Bar" theory implied this bar signaled the start of a pullback --- didn't think it only meant one red candle will be next...
Bear's problem is that bulls manage to keep the upwards momentum intact As soon as there is a break in momentum the overbought situation might be resolved, but for the moment the bulls are fully in control. Quite boring, we just have to wait for the bulls to stop playing that game, and we don't really know when they will decide to call it a day
Long all month. Expect reach to 1484, perhaps today. Plan to close hi volatility positions - FAS, EDC - by end of day. Expect pull-back tomorrow. Agree with KeiZai that this will be temporary PB, followed by run over 1500. So goes the plan.
Does not mean we top here - could be in .30 or 1.40 (on MDY from here), but it does mean we have a high probability of a decent pullback....
I am still thinking a top on Tuesday.... the last Jan opex pre holiday sell signal was in 2010 - we were down big to the lows of the week on opex Friday, but then rallied on the Tuesday before rolling over and heading down in to early Feb.
Basically, I have 3 opex / post holiday (January and February) scenarios - all involve tops - it is just whether we are Jan 2010 (down tomorrow, but top on Tuesday) or Top tomorrow and down big next week (Feb 2011!) or keep heading higher tomorrow in to Tuesday's open and then down for two days to somewhere just 1.5 to 2.5 SPY points below Tuesday's high (See Jan 2012 and Feb 2012 opex weeks)