agnosia wrote:feel pretty certain this move is over and we will end at 1333.... i am short 1340 stop 1341 ... come on bears!
be cautious man. i am not so optimistic. feel like some support around 35-36.
if bears cannot effectively take 1334.5 where is the vwap and my new equ point, it could still be a bullish flag.
i moved my stops down to 1338 just in case ... i dunno, qqq's are making new lows.. dollar is bouncing off support...
rebound failed, we'll have to wait for the next chance. we'll see.
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agnosia wrote:they did a great job scaring the shorts today... i almost fell for it.. added to my short.. this ship is gonna sink.. qqq's making new lows.
yeap, today's problem is QQQ. a healthy market, you don't want to see QQQ lagging.
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agnosia wrote:
i moved my stops down to 1338 just in case ... i dunno, qqq's are making new lows.. dollar is bouncing off support...
nobody knows for sure.
people are just talking about the quality of the rally this morning. some rumor says it's the short sqz, just to trigger the stops around 1339.75.
if we go low from 1340, what i can say is we live in a dog eat dog world.
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yoku wrote:
nobody knows for sure.
people are just talking about the quality of the rally this morning. some rumor says it's the short sqz, just to trigger the stops around 1339.75.
if we go low from 1340, what i can say is we live in a dog eat dog world.
well you need to think like a criminal in order to make money in this market i am used to trading the after hours so u see it all the time. the banks love gunning for obvious stops.
Last edited by agnosia on Mon May 16, 2011 12:20 pm, edited 1 time in total.
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not bearish yet, but decisively breakdown below green line would be bad. let's wait.
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(Reuters) - Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt.
channel. let's see how the current bar unfold - will tell if the previous bar is in fact an exhaustion bar.
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critical point. I wouldn't read it as Symmetrical Triangle if breakdown again. Instead it'd be Descending Triangle which has 64% chances of breakout on the downside.
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whether there's a 3rd rebound attempt, we'll need see the current bar, reduced volume would make a rebound very likely soon.
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i think they are gunning for the low from two weeks ago of 1325.25.. make a lower low by just a tad then rebound? i bet there are tons of stops there. i covered half my short here... keeping the rest for a swing.
Last edited by agnosia on Mon May 16, 2011 1:12 pm, edited 1 time in total.
the bar looks promising, so could be a rebound of some kind here. we'll need see how strong the rebound before making a further speculation.
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