Goldmember Posted August 12, 2009 Report Share Posted August 12, 2009 ES fell today to its 15 min 900MA and its 30 min 500MA. The next obvious pasta shport, ES 30 min 900MA, is around 973...which is also a couple pernts from the hourly 500MA at 970 (both rising). Broadly speaking I'd like a bigger drop here, then a retrace to a lower high in later/end Aug, riddled with neggy Ds. Then we could put another log on the fire. schlocks up, email from bejeebus, bull good! Up, up nirbana, buy, buy! Link to comment Share on other sites More sharing options...
Rationalize Posted August 12, 2009 Report Share Posted August 12, 2009 Details for me, too. Thanks for them. Never traded futures contracts (yet...). Jimi -- if you're out there.. Just remember that the futures are levered at about 97%, or about 30:1. [Varies a bit on different contracts.] They're a little like the crack cocaine [or so I'm told]. So very good and so very very bad. If there's any gambling instinct in you, futures may be a trigger, so be careful. 64 tick moves on the 10 year futures do happen from time to time. That's about $1000 per contract. Be aware or beware. Link to comment Share on other sites More sharing options...
Jorma Posted August 12, 2009 Report Share Posted August 12, 2009 Aug. 11 (Bloomberg) -- U.S. stocks dropped the most in a month, led by financials, after JPMorgan Chase & Co. said credit losses may overwhelm capital at MBIA Inc. and anal cyst Dick Bove said bank earnings won’t improve in the second half of the year. MBIA, the biggest bond insurer, tumbled 13 percent after JPMorgan cut the company to “underweight.” http://www.bloomberg.com/apps/news?pid=206...id=axQzK3rGdcSw What can you possibly say? There are thousands of fiduciaries that think that MBIA is a good or at least a viable investment. JPM said underweight now? We used to sit here at the Stool in Windy's days 5 years ago and marvel at this piece of shit holding 60. Underweight now? Just shoot me. I saw something the other day about a guy called in to discuss and advise government people on some issue I won't bother to mention. Now his summary of this isn't meant to point a finger at government but his comment was that he came in and they told him they were going to drive off a cliff. Their question was should they wear a seat belt? 'No no' he says, "Don't drive off the cliff". Oh, no, they were going to drive off the cliff, should they wear the seat belt, they kept asking. 'I suppose so, WTF'. That's what the whole world feels like. Link to comment Share on other sites More sharing options...
Charmin Posted August 12, 2009 Report Share Posted August 12, 2009 If your a full fledged bear here, you'd want the market to repeat what happened after Aug. 11, 2008 http://www.StockSharePublishing.com/ChartL..._1250045990.png Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 hang seng down 2.5%...its a start Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 i posted the following on another board in response to someone's query about what one's profit goals are on a daily basis...on a daily basis for the love of money and all the things it can buy!...just copying it here on the chance a young stoolie might benefit...i've paid much to grok this paragraph: $400-500 per day if/when i daytrade which is only 1-2 times a week, but that is a bloody tough nut to crack and often just a trade around an existing position...hey i've watched this (fill in your symbol) for a while so generally have a feel for its moves...more of a swing trader with a goal of a very satisfying 5-10% per month which pretty much everyone on the planet would/should kill for...doesn't happen every month, 2-3% per month is huge if you have some capital behind it...one is king of wallstreet if you can make 15-20%/year consistently, the money will find you without doubt...5% month with 10K is no big deal, with 100K i'm impressed, with 1mil you are one in a million, with 1bil you are one in a billion or less...i try to ritually avoid having more than 5-10% of my capital in any single position although i can get up to 40-50%% of my port in a directional short/long speculation over multiple instruments...its served me well...one of the most important points i've learned is you don't have to be in the market every day or even every week...trying to profit daily is pretty much a fools endeavor imho....its ok to be wrong, staying wrong gets expensive...fwiw and in interests of disclosure, i trade appx 75K account ex. 401k/IRA but anything over 75K is regularly siphoned off into a savings account and this money does not go back into the market except in very rare instances...and with this winded disjointed reply, i bid you good trading and cheers Link to comment Share on other sites More sharing options...
phatbubble Posted August 12, 2009 Report Share Posted August 12, 2009 If your a full fledged bear here, you'd want the market to repeat what happened after Aug. 11, 2008http://www.StockSharePublishing.com/ChartL..._1250045990.png An angle of descent similar to earlier declines this year would bring us to that next lower trendline (& heavy shport) around 810-820 by mid-Sep... Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 An angle of descent similar to earlier declines this year would bring us to that next lower trendline (& heavy shport) around 810-820 by mid-Sep... and that would be an even lovelier potential inverse H&S...assuming of course that it inverses from there... Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 If your a full fledged bear here, you'd want the market to repeat what happened after Aug. 11, 2008http://www.StockSharePublishing.com/ChartL..._1250045990.png i'll take bear eruption for $800 Link to comment Share on other sites More sharing options...
phatbubble Posted August 12, 2009 Report Share Posted August 12, 2009 and that would be an even lovelier potential inverse H&S...assuming of course that it inverses from there... If so might be an XXcellent entry point for the miners. Link to comment Share on other sites More sharing options...
Rationalize Posted August 12, 2009 Report Share Posted August 12, 2009 i posted the following on another board in response to someone's query about what one's profit goals are on a daily basis...on a daily basis for the love of money and all the things it can buy!...just copying it here on the chance a young stoolie might benefit...i've paid much to grok this paragraph: $400-500 per day if/when i daytrade which is only 1-2 times a week, but that is a bloody tough nut to crack and often just a trade around an existing position...hey i've watched this (fill in your symbol) for a while so generally have a feel for its moves...more of a swing trader with a goal of a very satisfying 5-10% per month which pretty much everyone on the planet would/should kill for...doesn't happen every month, 2-3% per month is huge if you have some capital behind it...one is king of wallstreet if you can make 15-20%/year consistently, the money will find you without doubt...5% month with 10K is no big deal, with 100K i'm impressed, with 1mil you are one in a million, with 1bil you are one in a billion or less...i try to ritually avoid having more than 5-10% of my capital in any single position although i can get up to 40-50%% of my port in a directional short/long speculation over multiple instruments...its served me well...one of the most important points i've learned is you don't have to be in the market every day or even every week...trying to profit daily is pretty much a fools endeavor imho....its ok to be wrong, staying wrong gets expensive...fwiw and in interests of disclosure, i trade appx 75K account ex. 401k/IRA but anything over 75K is regularly siphoned off into a savings account and this money does not go back into the market except in very rare instances...and with this winded disjointed reply, i bid you good trading and cheers Very different here. Trading futures almost exclusively, and some currencies. Generally looking for 4 to 8 ticks per day, on ES, ZN or similar. Equity index futures, bond futures, some currency futures, and spot currencies. Day trade mainly. Very rarely hold overnight. Compounding is the key. Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 If so might be an XXcellent entry point for the miners. i'll take GDX under $30, for well err....under $30 alex? Link to comment Share on other sites More sharing options...
byhiselo Posted August 12, 2009 Author Report Share Posted August 12, 2009 Very different here. Trading futures almost exclusively, and some currencies. Generally looking for 4 to 8 ticks per day, on ES, ZN or similar. Equity index futures, bond futures, some currency futures, and spot currencies. Day trade mainly. Very rarely hold overnight. Compounding is the key. time frames different, strokes most likely the same... Link to comment Share on other sites More sharing options...
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