Saturday, May 8, 2010

And So it Begins

Note the shooting star backtest of the PRS 133 channel (minutes before the Thursday Heist) 

I posted "Fractured Fractals" during that retest, and went short 3 futures.   In retrospect, wish I had played it bigger.   But I have also found in the past, when taking on inordinately large positions (say 10 to 20 futures) that the market goes out it's way to punish.

It's hard to "trust" this market in any way.   The bottom reversal happened in such proximity to the "limit down" market stopping rules, that it further reeks of manipulation

Here is the cool part, the "Fractured Fractals" post, right before the debacle. 

Note the comment on the chart: "Backtest of the PRS 133 and breakout to the downside, accelerating fear", 3 futures stop set right above the PRS lower channel, worked perfectly.

Below is my first attempt at a "Movie".  This shows the Thursday crash in live action.  The yellow line is the PRS 133 lower channel.   Note the mini-backtest and then the real backtest. No audio on this one.

The backtest of the PRS133 channel line is about halfway through the video....then the plunge.

Testing Video -- Below is HTML to Utube and at the bottom is the Utube link directly

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Insightful and Useful Comment!