Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
soku wrote:market very strong. breadth strong too. volume high, a:d seems bullish.
hanging around es 1200 area to verify the break out. my short plan never played out. i guess i will have to wait to tomorrow.
I'm back had a good work out..Nice to see you back..Here is a possible good short for you..It hit my buy this morning.It is on the top of the channel and has now pulled back a little.Swing trade TSCO.
bulls timeout, I still think this is a rebound. although short-term should be more up.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
My guess is that we are range bound 1050 to 1275 for the next several months. Look forward to your fine tuned navigation skills. Selloffs will be rapid and rises will be grind it out just like this one. Bulls out of time, but bears are scared to make first move. Virtually every indicator I use has or is on the brink of rolling back over. Maybe we get to 1220, but I don't see the evidence for it.
Possible paths
i hate drawing bullish forks
i've a great trading day, shorting around 1200 and covering on the dips
a normal trader might have traded the long side, but the market would thin out and soften at the HOD's
made 8 pts per contract traded on ES e-mini
Attachments
the market's goal is to distribute the wealth of many to as few hands as possible
My guess is that we are range bound 1050 to 1275 for the next several months. Look forward to your fine tuned navigation skills. Selloffs will be rapid and rises will be grind it out just like this one. Bulls out of time, but bears are scared to make first move. Virtually every indicator I use has or is on the brink of rolling back over. Maybe we get to 1220, but I don't see the evidence for it.
that's possible for a ranged market.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
ZH has an interesting point- the joint central bank move today is to actually prepare for a Greek default.
If Greece defaults, a liquidity issue will ensue as demand for USDs will skyrocket (what happened the last time). Having learned that from the Lehman episode, they are trying to be one step ahead and prepare measures for a Greece default.
Once this all transpires, many will kick themselves into not understanding this earlier.
Very interesting.
Last edited by BullTart on Thu Sep 15, 2011 3:55 pm, edited 1 time in total.
Carefull Bulls the shorts are just about thru buying.I don't know who else would be buying after this up.When this starts to turn dn i think it will be big.Maybe big gap dn to get the bulls traped.Could happen any time now.Lets see.
well, guess that's it for today. I don't see any weakness on the short-term plus bullish seasonality tomorrow. Thank you guys, I'll see you tomorrow.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
BullTart wrote:ZH has an interesting point- the joint central bank move today is to actually prepare for a Greek default.
If Greece defaults, a liquidity issue will ensue as demand for USDs will skyrocket (what happened the last time). Having learned that from the Lehman episode, they are trying to be one step ahead and prepare measures for a Greece default.
Once this all transpires, many will kick themselves into not understanding this earlier.
Very interesting.
I never would have guessed that..You have a good point.
At this point fundamentals don't mean anything except that stocks are cheap compared to their historical PE ratios. I wish I could say I see bearish tendencies but fact is everything is bullish allignment. Slow stochatics just crossed on the daily chart yesterday means that we should be going up for a few more days with cho and macd in bullish allignment. I wouldn't be rushing to short except for a few scalps.