Hello short term traders,
Is there any better way to start off the week than with gourmet coffee and a profitable trade?
Love the smell of profits as our last trade netted us 14 es handles of long profit.
Just stopping by again to give you the Cash Trade Of the Day for Monday.
Update for SEP 20:
Hourly Trading Notes:
Cash Neurals triggered an intra-day SELL signal here at 1137 es. Our previous targets of 1132.50 and 1135 both hit earlier and so closed out our long position.
Cash Neurals now confirm the current price level to be UNSUTAINABLE and extended outside of our value area. Expecting
this price area (1132-1136 es) to get rejected before end of session.
HOD has likely printed.
We expect responsive sellers to arrive as our time/volume indicators signal major imbalance on the hourly.
Watch for a delayed reaction to the discontinuation of Bush tax cuts for the $250k+. Much of this ramp is QE2 frontrunning and so we expect the next two sessions to be volatile. We are also on high alert for any announcement concerning the possible default of international debt.
CASH TRADE OF THE DAY:
Shorted 12 es @ 1138.50
Trade Type: Swing/Fade (overnight hold)
Current S/L: 1141.50 es (tight)
Conservative target: 1127 es
Expected target: 1121-1122 es
Current Risk: 1.5%
CASH NEURALS TREND:
Hourly futures: Bearish
Daily futures: Bullish
Weekly futures: Bearish
"To be conscious that you are ignorant is a great step to knowledge."
- Richard Feynman
STOPPED OUT of short at minimal stop loss.
This move up is extended and not willing to chase it here.
Caught most of the move up from 1070spx in our intermediate positions along with daytrades given last few weeks.
Awesome profits this month and sidelines for now until next setup..
I have been reading some of your comments on this message board. You seem to be an educated trader and I had a question for you regarding put and calls. What are your thoughts on SPY Oct puts.
Yes, trading systems are only as good as the trader.
The discretion is what separate the profitable ones from the ones that are not.
There is very little that is random about market movements for those that understand the advanced matrix underneath it.
But any investor/trader without a structured plan/rules is doomed. The small % who survive , survive for a reason:
They minimize risk, and maximize profit opportunities.
Trade small when losing,
trade large when winning,
trade never when unsure.
Understanding the market structure and auction theory is crucial for futes.
The confluence of all elements are in play:
fundamental, technical and sentiment and those with adaptive strategies always have higher profit ratios.
There a hundereds of good trading systems, and they usually say the same thing at the same time, on relative time frames. I hadnt watched this spy board most of yesterday, as my targets got very close I opened the spy board, and the top message was this one. That is NOT coincidence. Look at a long term dji chart, connect the tops, that iis one of the things I was watching, as well as some wave ratios. They all lined up together, not to mention the fibs again.
2 more POMO's for the week still.
I an thinking of buying monthly OCT 115 puts and sell the SEP24 (weekly) puts to see to how I fare with bearish view inspite of market ramping up.
Might sound old fashioned, but, counter trend trades and that too on a break out day don't make sense.
Irrespective of any other indicators, this seems to be one reason that the market keeps powering ahead. There has been heavy shorting going on all through this move over the past couple of weeks or so; the timing and size of some of that appears indiscriminate. (They are the ones providing the fuel for the run up by covering at various forced points). People talk about capitulation at bottoms & that is a well understood concept. I suspect we need capitulation from shorts and maybe some capitulation from those on the sidelines (those scared of going long) before we can get any sustained trend reversal, if at all. But by then it would be such a surprise & the indiscriminate shorts would have used up their ammo. This also increases the probability that "if and when" there is a sustained downtrend it will be fast and furious similar to the flash crash move.
So this just confirms how uneducated, inferior, and low IQ this Kibbles is. He comments on my trades when he is clueless WHERE es is even trading.
Otherwise this clown would know that es is 5 points off its session high.
Kibbles I never expect much from you, and you always seems to deliver.
Each time you post, it exposes your lack of brain power to everyone. lol
Go back to school, kid.
Dont troll into my thread. Do everyone on this board a favor and just disappear..
You are starting to look REALLY stupid now..