Morning my friend...
you make me smile all the time...<G>...
as you know i have been "shorting all major rallies for a year now"...nothing has changed my opinion, however i do get fits of bullishness that always costs me money<VBG>..
Ike i trade the markets each day in "neutral"..if we have 3-4- 5- consecutive days UP i'll be long during those days each day..without holding any stock over night...i go to cash each night...
i am not investing...i sold last week the last 2 semis..AMAT and MU for now..and will re visit them later...
if we are selling off for days on end..then i'll be short that trend each day separately...every single P&F chart i have looked at shows a cascading waterfall type chart of lower tops and lower lows..nothing was saved...
so on every insuing rally on those charts, they were "ONLY" shorts all over again, each and every time..they NEVER gave buy signals, only sell signals over and over again and again...hence i shorted all rallies...
nothing has changed here Ike...all i see is that we are ready for a Dead Cat Bounce from deeply oversold areas..The NAZ index is skewd to the lower end of the P&F bell curve by 85%...so we bounce here maybe back underneath the 2250 area..i'll play that bounce each day as it comes...then?? we'll see..
i will not predict...i play caboose, let the engine pull me along the tracks up or down..i'll follow without guessing where we are headed...
and as for the room<VBG>..it's fast paced fun packed days of trading triggers both long and short...using stops, exit strategies etc...i love it because it sharpens my tools, my eyes, my thinking, without clouding my thinking any further than the next hour or so...
i am focused, in my manic mode while using live voice in the room calling all these trades real time...we had an awesome day yesterday trading JNPR-BEAS-PDLI-HGSI intraday, we had solid buy triggers on EMLX-NVDA and 4-5 others..
so IKE have no fear<VBG>...this is the new mantra, a virtual community working together just daytrading the markets as a team..eyeballs watching each others backs as we move thru the trading day...trading alone just doesn't get it any more...it's too solitary, too confining..
what with all the news flowing all day, it's almost impossible to watch all these stocks, charts, information blurbs, doing it all alone...whats more we trade technically Ike...no guess work here..and we can teach anyone to do this..anyone...even you..hahahahahahahahaha...only kidding of course...
i know you trade the Spooos all the time..well my friend we follow the S&P's and NQ's all day for indicators of where we head each hour...Tick and Trin as well...it's a well organized groups of people that "trade the markets for a living"...serious pros, newbies, and intermediate types...a conglomerate of wonderful honest and friendly people...
anyway my pal...we watch the only index now that can save or break these markets the SOX index...we could bounce to 620 ish area..any break of 500 is death and destruction to all markets....all....
warm regards
OJ |
