Friday, January 23, 2009


Interesting week that was and lots of traders glad that it was shortened. Not me thou - made up pretty well with over ### points captured trading /ES.

Market still continues to rebuild some kind of a base, bullish signs building up, Elliot Wave followers recount and renaming waves left and right, supports/resistance lines have been moved around, trendlines bent to fit presenter's stance, bulls are bears, bears are bulls...wacky stuff.

I'll stick with my view "bottom forming/move up soon"

My silver bullet UNG A.K.A. Natural Gas attracted my attention again - will post some charts over weekend.

Lets enjoy the weekend - well deserved after crazy week.





Thursday, January 22, 2009

As (GE) goes so goes the market? #2

Back on July 10th 2008 I wrote a post

As (GE) goes so goes the market?

After that GE announced earnings and slowly moved from $27 to $30, but of course continued turmoil among financials (and at least 40% of GE business IS financing) pulled GE down.

Here we go again - GE reports tomorrow before market opens and "coincidentally" GE has just completed TD Combo Buy Countdown on weekly charts. I am dying to see what will happen tomorrow.


Parade of Buys

Adding to the Bull Case for the market, Blocks / StockFinder after running scans I coded, produced nice completed pile of BUY SETUPs on daily scans. Patience is a virtue - meanwhile I am holding some long positions since Tuesday afternoon and day trading /ES around with very nice profits...using the very same intraday scans in Blocks / StockFinder

Non troppo male il mio paziente amici, non troppo male....



If you interested in these scans I can provide it to you, free of charge of long as you subscribed to Worden Blocks / StockFinder / TeleChart using my affiliate ID 638


Tuesday, January 20, 2009

Back from "exile"

Many of you have been wondering where in the world is DavidDT?

My bad, I have not been around for almost a month and what a month that was...

Truth to be said, last few months of 2008 brought quite a few undeserved and hardly explainable tragedies to my family and all I wanted was for 2008 to end...

But faith is not without irony - on December 30th yet another tragedy... it was just "a little too much" - and I just freaked out. No, I did not try to find an answer "why" - I know life is not fair and not as much logical and not at all controllable - I just got REALLY TIRED AND SAD.

That being said - I plan on resuming regular posting (I hope my interest to blogging will come back) and I thought that there is no day like today to post something.

Here I go...

Today was not a nice day...for the Bulls, who else, I would not care less if it was a good day for Obama - as long as Bush is gone forever - hope lesson learned by American public and next time before voting for someone like Bush you would THINK, THINK REAL HARD.

Back to the markets
First time in a month I was a buyer today, I prematurely bought some XLF March calls, entered /ES long just to get stopped with 6 points loss, kept piling up on long QQQQ, USO, IBM and XLF positions.
Ended today with yet another long /ES position @804
Seems to be a very clearly defined risk/reward for this long trade - bottom of the range (thou a lot of traders really tired of seeing this channel and most likely prepared to surrender to bear's case - not me )
My "buddy" DeMark on daily points to almost completed Buy Setup and on Hourly chart of /ES stop loss is clear - if /ES will not be able to hold 796 (it is 796-802 area)

Hope to write more soon - you all know - I am a big "reversals' fan - when everyone is running for the cover I am that idiot to play chicken with the train.
More later...