Come on, is anyone really too shocked that the market has pulled
back from last Friday's highs? All the various charts were at
resistance and overbought
I certainly WILL say 'yes' to renewal and thanks to Matt,
et al.for the great work on chart analysis and mechanical
systems.
One takes any market analyst as a source of help or suggestion
only. I still research my own trades, though I mostly trade bonds,
as in corporates. Reviewing a chart analysis always involves me
asking myself, "Do I agree with the opinion?"
BPT has called this very choppy market very well, better than
one should expect even.
When have we had a tradeable market trend since May? Yet there
have been many, many great trades on individual stocks posted here.
Great job guys. Thank you.
If you looked at the support and resistance lines of SPX posted
daily on the board along with break down in key IYT , IWM and
Copper you would have taken it upon yourself to get flat and or
short as I did and many others. I bought QQQ 9/63 puts this a.m. at
1.07/1.08 and sold 1/2 at 1.40. Good luck with the best site
on the board.
Posted by parkridge77 on 2nd of Aug 2012 at 02:25 pm
& rebreese thnx for your Qs options post here- very
educational,- appreciate your historical "feel" &
perspective of the market having worked on the Exchange
yep rbreese - copper has not been looking pretty lately and
there are some important support levels to watch, if those are
lost, watch out. I'm not in love with the daily or weekly
chart
I did manage to re-short this morning on the move up and close
of the gap, watching for it to roll over. Got it at 137.24,
it was falling fast at that point.
It seems Matt and Steve are never wrong. The "I told you
so" mantra on every frickin' trade gets old. Matt and
Steve, a little humility and telling us how you learn from
your mistakes (that you apparently never make) would be
refreshing.
I think the vast majority of subscribers here will be
disagreeing with you mfogli. If anything Steve and Matt have to be
some of the best newsletter presenters on the net IMO. I should
know - I have subscribed to heaps of them. If you think Matt and
Steve are bad - try subscribing to any of the Motley Fools
newsletters - some of their newsletters have been seriously
underperforming (by my metrics anyway - not theirs). They do
apologise but then smash you with tons of advertising material
touting their latest and greatest and how David picked AMZN back in
1989 and it has grown 1000% - wow.
mfogli1 - I guess you woke up on the wrong side of the bed
today. I'm wrong plenty and have said many times I'm far from
perfect. Trading is about taking objective trades and managing them
in accordance with one's objectives while adhering to proper money
management. In the newsletters, I have reviewed many examples of
good and bad trades as well as why some were likely to be less
successful. Further, I have personally volunteered my time for
tutorials where I spend time reviewing trades etc where we openly
discuss such things (including marginal or failed trades). I have
plenty of humility and my nightly comments are certainly
transparent. Why don't you contact me and will discuss
further.
If you have a specific setup that you would like me to review
then let me know and I'll be happy to discuss. This is one of the
primary things that I have been doing with the tutorials where we
can review with immediate interaction.
I don't think this service is for hand holding, the ultimate
decision is up to you as a big boy. Matt and Steve provide
insight into what the charts are showing from a 1 minute to monthly
time frame. If you want them to trade your account for you
maybe they will offer the service. No one knows exactly what
is going to happen from day to day, especially when their is so
much political and governement intervention.
No one is asking for handholding, just a little humility and
transparency. Rather than always touting the great calls, and
the "should haves" how about a 'mea culpa' once in a
while. Maybe just a style thing, but it definitely turns me
off
I was not here last week but Matt posted an objective area to
hedge short on the SPX in a reply to frtaylor at that time.
Personally, I have posted several short setups over the past few
days in conjunction with my cautious comments regarding the market
on Tuesday night.
ducati- that's BS, we've had plenty of shorts and
we dont' tell you what to trade, you decide. We clearly
showed the market at resistance and provided tons of short ideas,
you need to take some responsibility. Or why not set up a call with
us and we'll go over your trading style, Steve has been kind enough
to spend sometimes as much as 2 1/2 hrs on the phone with members
to help them with their trading AT NOT COST, what other website
does that? Everyone is different with different styles etc.
We provide the ideas, you decide what to use
also where were you last Friday when a member asked about
shorting and I provided this SPY chart with a stop listed.
here's the post
Market Comments
Posted by matt on 2nd of Aug 2012 at 12:44 pm
Come on, is anyone really too shocked that the market has pulled back from last Friday's highs? All the various charts were at resistance and overbought
$SPX - Chart Link - daily chart stopped at resistance
$SPX - Chart Link 60 min - stopped at the top of the channel
$SPX - Chart Link - wave count that showed a completion
SPY - Chart Link - ETF, reversed at the top of the channel
I certainly WILL say yes to renewal and thanks to Matt, et al. for the great work on chart analysis and mechanical systems
Posted by cubby on 2nd of Aug 2012 at 07:46 pm
I certainly WILL say 'yes' to renewal and thanks to Matt, et al.for the great work on chart analysis and mechanical systems.
One takes any market analyst as a source of help or suggestion only. I still research my own trades, though I mostly trade bonds, as in corporates. Reviewing a chart analysis always involves me asking myself, "Do I agree with the opinion?"
BPT has called this very choppy market very well, better than one should expect even.
When have we had a tradeable market trend since May? Yet there have been many, many great trades on individual stocks posted here. Great job guys. Thank you.
Cubby
Ducati
Posted by rbreese on 2nd of Aug 2012 at 01:49 pm
If you looked at the support and resistance lines of SPX posted daily on the board along with break down in key IYT , IWM and Copper you would have taken it upon yourself to get flat and or short as I did and many others. I bought QQQ 9/63 puts this a.m. at 1.07/1.08 and sold 1/2 at 1.40. Good luck with the best site on the board.
& rebreese thnx for your
Posted by parkridge77 on 2nd of Aug 2012 at 02:25 pm
& rebreese thnx for your Qs options post here- very educational,- appreciate your historical "feel" & perspective of the market having worked on the Exchange
yep rbreese - copper has
Posted by matt on 2nd of Aug 2012 at 02:12 pm
yep rbreese - copper has not been looking pretty lately and there are some important support levels to watch, if those are lost, watch out. I'm not in love with the daily or weekly chart
I did manage to re-short
Posted by frtaylor on 2nd of Aug 2012 at 01:00 pm
I did manage to re-short this morning on the move up and close of the gap, watching for it to roll over. Got it at 137.24, it was falling fast at that point.
with all of the things
Posted by ducati on 2nd of Aug 2012 at 12:51 pm
with all of the things that you have mentioned, You did not suggest a short, this site seems to always have a told you so tone
I completely agree...
Posted by mfogli1 on 2nd of Aug 2012 at 06:24 pm
It seems Matt and Steve are never wrong. The "I told you so" mantra on every frickin' trade gets old. Matt and Steve, a little humility and telling us how you learn from your mistakes (that you apparently never make) would be refreshing.
I suppose you won't be renewing your subscription then?
Posted by payday on 2nd of Aug 2012 at 07:05 pm
I think the vast majority of subscribers here will be disagreeing with you mfogli. If anything Steve and Matt have to be some of the best newsletter presenters on the net IMO. I should know - I have subscribed to heaps of them. If you think Matt and Steve are bad - try subscribing to any of the Motley Fools newsletters - some of their newsletters have been seriously underperforming (by my metrics anyway - not theirs). They do apologise but then smash you with tons of advertising material touting their latest and greatest and how David picked AMZN back in 1989 and it has grown 1000% - wow.
mfogli1 - I guess you
Posted by steve on 2nd of Aug 2012 at 06:57 pm
mfogli1 - I guess you woke up on the wrong side of the bed today. I'm wrong plenty and have said many times I'm far from perfect. Trading is about taking objective trades and managing them in accordance with one's objectives while adhering to proper money management. In the newsletters, I have reviewed many examples of good and bad trades as well as why some were likely to be less successful. Further, I have personally volunteered my time for tutorials where I spend time reviewing trades etc where we openly discuss such things (including marginal or failed trades). I have plenty of humility and my nightly comments are certainly transparent. Why don't you contact me and will discuss further.
If you have a specific setup that you would like me to review then let me know and I'll be happy to discuss. This is one of the primary things that I have been doing with the tutorials where we can review with immediate interaction.
Why the crying!
Posted by lrhoades on 2nd of Aug 2012 at 06:41 pm
I don't think this service is for hand holding, the ultimate decision is up to you as a big boy. Matt and Steve provide insight into what the charts are showing from a 1 minute to monthly time frame. If you want them to trade your account for you maybe they will offer the service. No one knows exactly what is going to happen from day to day, especially when their is so much political and governement intervention.
Not an issue of handholding, but of honesty...
Posted by mfogli1 on 2nd of Aug 2012 at 06:45 pm
No one is asking for handholding, just a little humility and transparency. Rather than always touting the great calls, and the "should haves" how about a 'mea culpa' once in a while. Maybe just a style thing, but it definitely turns me off
Ridiculous
Posted by johnny1 on 2nd of Aug 2012 at 01:10 pm
These guys have had so many short ideas lately, I cannot keep up with them. Move on, troublemaker.
ducati - suggest a short
Posted by steve on 2nd of Aug 2012 at 01:04 pm
ducati - suggest a short on what?
I was not here last week but Matt posted an objective area to hedge short on the SPX in a reply to frtaylor at that time. Personally, I have posted several short setups over the past few days in conjunction with my cautious comments regarding the market on Tuesday night.
ducati- that's BS, we've had
Posted by matt on 2nd of Aug 2012 at 01:03 pm
ducati- that's BS, we've had plenty of shorts and we dont' tell you what to trade, you decide. We clearly showed the market at resistance and provided tons of short ideas, you need to take some responsibility. Or why not set up a call with us and we'll go over your trading style, Steve has been kind enough to spend sometimes as much as 2 1/2 hrs on the phone with members to help them with their trading AT NOT COST, what other website does that? Everyone is different with different styles etc. We provide the ideas, you decide what to use
also where were you last Friday when a member asked about shorting and I provided this SPY chart with a stop listed. here's the post
http://breakpointtrades.com/blog/post/205550/#205560
we are far from perfect here, but we do the best we can and we work hard, I'm tired of the little jabs.
Market Comments
Posted by matt on 2nd of Aug 2012 at 12:46 pm
and of course any time the market moves up so fast on some rumors or news, it's always prone to some disappointment