I dont think I agree with this wave count or Daneric's eitherTODAY is 28days from August 17th
you remember that day? I'll illuminate
On Aug 17th the DOW opened DOWN 199, and lingered all day closing down 186
Could today be a DUPLICATE??
at lest on close.
Lets SEE
SPX futures are DOWN 5.00 at 9am, thus 1039.47 looks like a dead issue=
IF NO SUPPORT at 1040, then 1025 might be next
SPX 1050 - 25 pts = dow 200 =1025
1080 - 1025 = 55 FIBO points
WHY NOW ?Iran secret exposed = PLUTO DIRECT & waning Sun Square
from 23rd.
DAILY Arms
Wed = 2.32
Ths = 2.04
Cumlative so far DID NOT produce a buy signal
PC ratios YESTERDAY ARE more bullish than bearish, BUT the WAVE has to RUN ITS COURSE
REMEMBER I had posted SEVERAL TIMES to BUY the CLOSE of the 25th
and a drop today of 200 dow points SHOULD LEAD TO
A VERY STRONG OPEN MONDAY= Yom Kippur
However, the reading calls for starting the day on the wrong foot,
so its STILL a bit confusing as to the OPEN for Monday
I will try to clarify later
Jay
36 comments:
How far do we crash today? 1030? Thanks.
Anonymous said...
Long SPX 1045
Cal
9:35 AM
OK
SO FAR WE GOT the LOWER OPEn as projected.
Jay
Half off at 1052. 7 point profit Let other half run free money.
Cal
Closed my 50 percent qqqq short from
42.20 at 41.90 for 30 cent gain =
to 7.50 spx gain. Now flat
Cal,
I will let the suckers and bears who got burnt from being short from 1000 all the way to 1080 and covered at 1050 buy this 10/15 point bounce from 1045.
Peter
As Jay mentions, if we touch below 1039, we go down like a rock to his 1020.
Peter
we have been trading in 1045.75ish to 1053.50isg range for 6.6 hours.
Can't wait til the crash, loaded up heavy on shorts today
x
I still think quarter end window
dressing will mitigate this decline..
Till Sept. 30
Peter,
By addressing me, I hope you are not presupposing that I am one of those that you speak of so disdainfully.
I am a daytrader and buy every single opportunity that presents itself long or short.
10 -15 points is alot of money to me and I will take it as will others like me.
There are a thousand different management strategies, trading vehicles, etc, etc that each trader utilizes, so it's difficult to pigeonhole each trader or make generalizations about an entire group.
Cal
To anonymous,
I can tell you are not a good trader who loses more than you make.
You don't have the right temperament for a trader.
You're an easy profile.
Cal.
Just closed my other bhalf of longs for a profit.
Cal
Cal,
I am a position trader, not a day trader? Like any short term traders, you can always spot some opportunities, but you also always lost the points gained, pretty easily. Tons of chances to win and tons of chances to loss. So, nothing to brag. You classify yourself as a good trader? How many super rich day traders in the world? I am not referring to you, but in most cases and in the long run, day traders are losers.
Ok forget the labels.
I am a trader. I do take positions longer than a day or more.
BTW. If you take the time and energy to read all my posts from previous threads you will see my BIG short position from 1064-1073has not been closed.
You boys are jumping to conclusions and making assumptions that aren't true.
But I suspect there is an underlying motive to all this.
Cal
Cal
It's like this, some of us perform while the rest whine.
The other Cal
cal,
funny label, lol.
Any other Cals out there?? :)
My system always goes flat for the
weekend to reduce risk. I won't take
any other positions today. The trend
of the system is still DOWN.
Cal,
History as shown 99% of day traders are losers/suckers. You could be in the other 1% (along with Jay and other day trades), but my comment was for the 99%. As a bull, I find it funny that many swing trading perma-bears who were shorting the run up all the way from 1000 to 1080, cover at 1050 after a measly 2% drop and are long now.
Peter
""So, nothing to brag. You classify yourself as a good trader? How many super rich day traders in the world? I am not referring to you, but in most cases and in the long run, day traders are losers.""
-------------------------------
A silly assumption. Why?
A daytrader who loses doesn't stay a daytrader for very long.
Typical outward projection of people from an inward position of inadequacy.
Cal
Peter,
I don't have any statistic regarding how many day traders are suckers, 99%? Maybe, but I think it is too high. But I heard that as many as 87% future accounts got burned within 3 month because of lacking capital and way high leverage. Of course, most of them or 99% of them are day traders.
Peter,
Like I told the other guy. Forget the label "daytrader".
Very difficult to put traders into subgroups these days. If you're a good "daytrader", you will be a good overall trader because the same system principles apply to all time frames. That is a fact.
Cal
GENTLEMEN
YOU all have TOO much TIME on your hands
KEEp your comments CONSTRUCTIVE
I will remove offensive nit picking
snipes
BANTER NOT Necessary at all
Jay
Cal,
In my personal experience, I have seen psychology of day trader to be different from swing trader. Though everything is fractal in nature (ie whatever setup one sees in 1min chart also happens on daily chart, albeit, with lower volatility), composure of a trader changes with timeframe. In fact, I think its dangerous for one to be mixing day-trade with swing, as small day trades gone awry could end up being swing trades and finally long term investment/capitulation.
Peter
Peter,
No, a daytrade is a daytrade and doesn't morph into anything else. A succesful daytrader always employs good risk management, period.
What I meant by "in principle" is in reference to the system or meyhodology you use to track your setups.
Cal
Cal-
From the statement:
"Very difficult to put traders into subgroups these days. If you're a good "daytrader", you will be a good overall trader because the same system principles apply to all time frames. That is a fact."
You know nothing about the psychology of a trader. You doom to be a LOSER.
HEY !!!!!!!
ARE YOU GUYS DONE OR WHAT
Jay
Anonymous.
Man, if you're offended by that harmless jab, then you truly have some profound insecurities, and pyschological instabilities. Man go heal yourself. The sooner you get treatment the less likely you'll develop some kind of irreversible psychological disorder.
I'm concerned for you.
Cal
Ok Jay
Sorry
Cal
Cal,
I truly believe you should get healed or HELL. You moron knows nothing about psychology and jumps out so many nonsense funny statements. What the hell are you doing? Don't lebel yourself as something, what you stated shows your image, true image. A big LOSER and SUCKer. Anyway, financial system needs suckers like you, or who can be a winner?
Looks like crash is starting now...jay might get his 200 points down today. Congrats to those who are still short
ty
Goldman Sachs is tanking badly, good sign for shorts
An anon that calls other names, such as a moron, is probably no better than the label he/she uses. After all it takes one to know one.
Like I said, some of us perform while others, for what ever reason, whine.
the other Cal whom is getting tired of this nonsense and is moving on again.
GL
got any readings for us Jay?
I think I may hold thru the weekend now...
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