Tuesday, June 15, 2010

Distancing myself from intraday noise

As a lot of regulars noticed I've been mostly absent from DISQUS during the day.  Firstly I am exploring modern slavery opportunities (AKA "cubicle slavery") – which are very bleak and not so well compensated anymore (not even as well as 15 years ago – I wonder – why those GuberMint a…people trying to convince sheeple that "wages are rising" – hell NO… NOT even in "inflation NOT adjusted terms"!!!


Shielding myself from intraday noise does its trick – I waste less time watching unpredictable tape, I have MORE time and desire to look at the daily charts at night and I am [theoretically] less tempted to close profitable positions…

Why "theoretically"? Because no longer than yesterday I was unfortunate to take a look at the real time quotes and…you guessed it right – I closed entire SPY Jun111 and OIH Jul109 long calls positions.  Not that the size of that position would make any difference, but it just proved that I still have to work on "stay with the trend" trades…I'll get to that right after finishing washing dishes while making another trading stake…


Back to the charts

A while back right at the end of April either in one of the videos or posts I mentioned that "there is TDSequential Countdown 12 Sell on Weekly SPY chart and many others and 12 sometimes produces sudden strong selloffs"

Selloff that was, but of course I could not have imagined the magnitude of so called "flash crash" and …paid huge monetary price (got hit on the "bad" trade AND on the "good" trade) and, probably even bigger emotional toll.


Getting back to "weekly countdown" – this very week we might see "13" countdown sell appear on the charts.  Coupled with retest of lower side of Andrews Pitchfork (which is pretty much an important trendline at the same time) and on DAILY chart – possible busted upside channel breakout – market might just surprise bulls next week (quite similar as bears were "surprised" last few days.  I hate to be right and not to make money!



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