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Hmmm, maybe there will be a sell off this afternoon and I can sell this TZA. I need to quit trying to trade between two systems (the other is short right now) and just go with one.Right :D
Anybody going long with hammer going in on ES Minis??
That's a tough one. It sure looks tempting, doesn't it? But I'm not sure the technicals support it just yet. The stochastic in particular does not yet look to have bottomed. I think there's more upside than downside right now though.I'm just not sure we've seen the bottom yet. I'd like some confirmation of the hammer before going long, but that's just me. I tend to be fairly conservative.
Very tempting especially with the tales creating almost a double bottom for Friday and today. Worked out nice on 8/29 following the 8/26 hammer. If today's low would have hit the 8/26 bottom tale low of the hammer it would be worth the risk to me.
tails and tail. lol
Big move going into close.
WOW Just might have got my confirmation handed to me.
Very interesting indeed. That certainly increased the odds of success on an overnight long ES. Personally, I'm going to wait and see how the evening trade runs. I may go long later tonight.
Looks like you guys were right. Thanks for posting your thoughts.
BTW, we're going to get another hold signal, officially. Unofficially, the unhealthy signal is to short at the close...
Kind of boring in TNA today. Coal stocks are on a rocket ride to recover some of their losses.
Boring in TNA?????? It's up over 10%Wish I had got in last night... damn...I hope this is a top and we can short. Hated to lose this opportunity, but this market is crazy volatile...
oops, hang on, forgot something.J-Trader, why hold still. I don't understand why hold when the market is swinging 2-3% or more... Is it to much volatility for your system to see these reverses?I was gun shy this morning after losing on TZA yesterday. Should have picked up some TNA at 42.25 this morning and I would be up 2+ now... sigh... wish I knew what I was doing...
Slow grind up RMI. Making money is never boring just the slow movements in the trades.
I posted in my blog last night that the market was going up today (might as well toot my own horn when I'm right, eh :-)But seriously, when my bull-bear ratio is 7:0, what other conclusion can you draw?
What is your blog Michele??
Pull back this afternoon before Jobless claims and Bernanke??
I agree Michele, but I already follow 2 people, adding a 3rd will really confuse things as they other 2 already don't agree...SighOh, and I can't trade after hours, or pre-market, so a lot of the info isn't good until 9:30 am in the morning and there is no way for me to know that the gap up is the low, or the high... kinda tough to trade that. sorry
Well, now that the beige book is out and the rally continues, I guess today is the day to be the exception. Some folks going long, others staying on the sidelines, and I am hoping for a short signal to take advantage of a bounce off this rising channel (dare I say bear flag).Sorry, just had to vent... ;)
"What is your blog Michele??"http://nightowltrader.blogspot.com/Thanks for asking :-)RMI - if you follow three people instead of two, then you can take a vote and never have a tie when there are disagreements :-)
Excellent point Michele.I am about to post a question for you over on your blog. See you soon ;)
Ask and ye shall receive :-) See latest post. I liked your question so much I made it into a post rather than a comment.