My prayers are with those who lost their loved ones in the unimaginable tragedy of Newtown, CT
Was browsing through charts and turned to my long time favorite time frame - 3 days, sometimes you can see quite interesting things.
We might be just about to correct and go below of November's lows ... I'll be short starting next week.
Closed long RIMM position at almost 50% profit ( Thank you to Karl Denninger - he ignited my interest to that trade )
Watching Natural Gas ... watching ... watching ... seasonal move is not really what I want to catch ... watching for something bigger...
1300 and if it breaks - then 1270 - both are TD Support lines
I am slightly short, unfortunately I was really tied up with my other initiatives and do not have any sizable short position.
As for long positions - I think it has come the time for Natural Gas to start making widows on the way up
Was browsing net few days ago, stumbled upon Karl Denninger’s blog where he was talking about (RIMM) not being as much of a dead meat it was last 2 years. Decided to take a look and – TD supports that theory, at least on the lower timeframes. Though I missed daily signal already.
Break of TDResistance line might result in higher move. Especially from this base
Sorry for my complete absence last few weeks – my Mother was terminally ill for a while and finally passed away this Sunday. I will resume postings as soon as possible
TDSetupBuy on weekly is on its merry way, I am cautiously short – can SPX make it all the way down to 1280 support? I truly doubt that and have quite loose stops on short positions.
on daily chart positive divergence between price lows and RSI grows – change of trend coming? I think it is too early to say – will have to wait at least till mid week to see where it is going
As we grow older ( shall I say “OLD” leaving out that compromising “er” part that is inserted by old farts who are afraid of death) we learn to appreciate finer things in life and gradually come to understanding that some of the finest things are free. While market doing its “nottin” thing I am enjoying view from my balcony of Hull’s Nantasket Beach, doing my regular double track on the wet sand (boardwalk is said to be over 1 mile long, so for the old-er fart like me 4 miles is not such a bad daily deal )
Speaking of market’s nottin – SPX has lost about 60 points since my last lazy post on March 27th and did it in such a boring way that only people who sell options and collect time decay could be fascinated by that “move” – for me it is as exciting as watching flies f** … make love (Thank you George!)
Weekly chart (SPX)
And daily of course – 1340 is TDST support – watch for bounce – protect short profits for now.
Word of caution to short side players – if you look at daily wave you will see that W2 retraced almost 75% – be warned that W4 ( if that is where we are at now) might be very shallow – 25-30% might just doo it – I might even start looking at long positions soon.
P.S. If you noticed URL has changed to www.trading-to-win.com – not sure if you have to redirect or do nothing. Just make a note of it, please.
Since my last post as of February 29th SPX added around 30+ points which can be classified at dead calm in any trader’s book, but now market is nearing what might be correctional wave 4 of wave up daily. I am setting my stops at –10 SPX points and will be looking for re-entry on the long side later on (few weeks at least). Meanwhile I might be trading small positions on downside, but wave 4 is notoriously famous for being difficult to trade, so I might just take it easy … if it is possible to take it any easier :)
Hamlet:
What a piece of work is a man, how noble in reason, how
infinite in faculties, in form and moving how express and
admirable, in action how like an angel, in apprehension how like
a god! the beauty of the world, the paragon of animals—and yet,
to me, what is this quintessence of dust? Man delights not me—
nor woman neither, though by your smiling you seem to say so.Rosencrantz:
My lord, there was no such stuff in my thoughts
[So much for the change of commas order …]
People who have been patiently waiting for the Universe to start spinning might have been missing steady up rise of the market, sector by sector has been braking into bull territory, with technology leading the way (no matter how pathetic that Horse****man of the market looks to people who despise idiots buying new gadget every year or when it just released, without really caring that that main difference is the number of the gadget …1, 2,3, 4 … so convenient for dim witted.
But fear not – not always the most money are made by pioneers – faster and bigger money are made when sheeple realize that they might be missing the money train – and one of such still springing to move trains are HOMEBUILDERS
And you are not too late to technology sour fiesta – buy buy buy!
Do not like either of those? Get moving with transports – party is on!
Disclaimer: This website may include stock and market analysis. Any opinions, ideas, views and statements expressed here are opinion only, subject to change without notice and for informational purposes only. Trading stocks carries a high degree of risk. It is possible that an investor may lose part or all of their investment. Accuracy and timeliness of any information is not guaranteed and should only be used as a starting point for doing independent additional research allowing the investors to come to his or her own opinion. Nothing on this blog is to be considered a buy, hold or sell recommendation. Any investments, trades and/or speculations made in light of the opinions, ideas, and/or forecasts expressed or implied herein are committed solely at your own risk, financial or otherwise. Results are dependent on market conditions, timing and trading style. This blog is not affiliated with Tom DeMark in any way and does not claim to represent his estate or personal views. Any references to Tom DeMark or any of his indicators are for educational use only. Comments posted on Disqus Threads are not moderated and are not representative of opinions of authors of this site.
For newbies and lurkers out there: You will read many, many various trading observations,opinions and calls on this blog, from bullish to bearish- that’s why we’re different here. You will often see us challenge each other- and often. It is YOUR responsibility to understand and/or ask questions if you’re confused or want help/further opinion… we can’t read your mind. This is a place of learning and sharing, but the trading is YOUR responsibility alone, not ours. Rule #1- never take a trade that is not based on your own T/A and choice. Lead yourself, do not follow. I can’t emphasize that enough. Read the disclaimer at the bottom of this blog site completely, if you haven’t already. I have seen plenty of “gurus” with loads of happy followers take their trades blindly with both good AND bad results - don’t let yourself be one of those people
Disclaimer: This website may include stock and market analysis. Any opinions, ideas, views and statements expressed here are opinion only, subject to change without notice and for informational purposes only. Trading stocks carries a high degree of risk. It is possible that an investor may lose part or all of their investment. Accuracy and timeliness of any information is not guaranteed and should only be used as a starting point for doing independent additional research allowing the investors to come to his or her own opinion. Nothing on this blog is to be considered a buy, hold or sell recommendation. Any investments, trades and/or speculations made in light of the opinions, ideas, and/or forecasts expressed or implied herein are committed solely at your own risk, financial or otherwise. Results are dependent on market conditions, timing and trading style. This blog is not affiliated with Tom DeMark in any way and does not claim to represent his estate or personal views. Any references to Tom DeMark or any of his indicators are for educational use only. Comments posted on Disqus Threads are not moderated and are not representative of opinions of authors of this site.
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