Thursday, March 10, 2011

Shorts closed for now, NOT going long for bounce

All shorts closed for the moment.    Very nice rundown on the Nikkei futures and the Nas.

They often punch through even the 177 a .1% or .3% even, popping stops.    So if I set a short just below the line, more likely to get whipsaw.    BUT  if this line truly breaks there is buku air underneath, so why worry about catching every bit o f move, plenty of things to trade, plenty time to trade them, pulled a nice 4% account increase (in 2 days from this trade) while only putting 10% of account into the trade.

 USD futures, at an important line

Backtesting this line is like standing on the edge of the canyon and leaning off being buffeted up by the strong rising winds.    It could go either way.

 NQ is at channel support, putting in a classic double bottom.   I will buy this dip with a weak hand.

Drop a comment,


  1. Do you think the tide has turned and its time to start selling the bounces ?

    Could you also post some opinion/charts about silver and pmi - thanks

  2. buying /NQ is good idea. I see a test to 2410 area

  3. I did buy the dip, just 1 contract, stop now at breakeven, very well could get whipsawed out.

    Annoying now that TOS does not send email on trade execution

  4. I could see this NQ run up to 2375, or roughly 78 Fibo, from the 1 week drop. No amount of insanity is out of the question.

    I will be selling kickdowns from the PRS lines, but not other bounces. Currently long.

    Not playing silver, could make money on greater fool theory, too much bullishness, dont need to play it. BUT i did post a PMEI chart above. check it out.

  5. It sent to me.
    your notification setting may have been wiped out after their patch. it happened with me too. I had to re-setup those.

  6. thanks for headsup, check out 2 new posts


Insightful and Useful Comment!