$SPX - this would be the bullish view of
the triangle, ABCDE, wouldn't play out until next week, basically
you would get a pullback in wave E, which would get the 'bears'
excited for one day, then it rallies hard and breaks out
Something suggests to me that we may see a throw over for D and
a higher high than 1277 that blows this up..gonna have to monitor
this and that modified macd for the turn down or break
out.
it's fine to be bearish, but be adaptive to the market.
Too many ultra bears who only short and never take longs.
Why not play some long ideas, even if you hold some index
shorts? At least it's a hedge to your shorts if you are
wrong, and bears have been wrong for a month. Steve and I
play these nice long ideas every day, sure they don't all work out,
but more do then don't, and you can at least make a little money
each day, and if you are short and losing money on shorts, at least
it helps to mitigate those losses.
otherwise I don't see myself playing anything the rest of the
day unless I see a good setup on futures or something, maybe the
last hr or so.
SPX 15 min triangle view
Posted by matt on 11th of Nov 2011 at 01:22 pm
$SPX - this would be the bullish view of the triangle, ABCDE, wouldn't play out until next week, basically you would get a pullback in wave E, which would get the 'bears' excited for one day, then it rallies hard and breaks out
looks good but
Posted by perthx on 11th of Nov 2011 at 02:23 pm
Something suggests to me that we may see a throw over for D and a higher high than 1277 that blows this up..gonna have to monitor this and that modified macd for the turn down or break out.
it's fine to be bearish,
Posted by matt on 11th of Nov 2011 at 01:25 pm
it's fine to be bearish, but be adaptive to the market. Too many ultra bears who only short and never take longs. Why not play some long ideas, even if you hold some index shorts? At least it's a hedge to your shorts if you are wrong, and bears have been wrong for a month. Steve and I play these nice long ideas every day, sure they don't all work out, but more do then don't, and you can at least make a little money each day, and if you are short and losing money on shorts, at least it helps to mitigate those losses.
otherwise I don't see myself playing anything the rest of the day unless I see a good setup on futures or something, maybe the last hr or so.
matt could you comment on $NATV:$NYTV chart?
Posted by 8899 on 11th of Nov 2011 at 02:00 pm
http://stockcharts.com/h-sc/ui?s=$NATV:$NYTV&p=D&yr=1&mn=2&dy=5&id=p47369839998&a=192908338
are you going short somewhat at the end of the day based on this setup?
thanks
I think the other thing to remember is :::
Posted by zach06 on 11th of Nov 2011 at 01:28 pm
That if you are long puts and the market changes direction... you can use those puts for Protection to go long.
Puts for protectiona
Posted by poohnana on 11th of Nov 2011 at 01:40 pm
If you want to buy puts for protection against a market reversal, would 1 week out be reasonable to buy?
it depends on what you are trying to protect and when you want it protected.
Posted by zach06 on 11th of Nov 2011 at 02:26 pm
Earnings? Market Vol???