It may double top but I never said to short as yet since there
has yet to be any trigger (reason to short). I have said to
KEEP an open mind to ALL possibilities for many days. If YOU chose
to hedge then what was your trigger to do so? A map is only a guide
and not a reason by itself to short without a trigger. At this
stage it's simply best to respect the trend until evidence changes
and not get consumed with prognostications.
Rockee..hedging against longs at times is fine but when price
moves up one can remove hedges and look for another place to hedge.
I'm not aware of your plan and thus cannot comment.
You can reach me personally for any clarification.
pintopower...I will review this weekend but less likely after
today's move (not yet invalidated). Irregardless, one should
be trailing up stops and be on the lookout for a pullback.
The nature and extent of any such pullback will be more
telling. Again, this is all secondary to managing your existing
trades and looking for new objective entries. There have been
NO daily or weekly sell signals since during this uptrend so we
remain with the trend by trailing up stops.
What if your trades are weekly. It is not secondary then as you
401k dry paint system has been in cash since March. So it does
matter. We are at new highs
Ducati..if your trades are weekly then you should still be LONG
as we have yet to get a SELL signal on this move up. The only
ones short are those guessing tops and we have yet to get a
reversal on the weekly charts. Did I not clearly say last weekend
that the SPX would need to break below 1923 to reverse? I
suggest you listen closely to the weekly chart comments. I
sent you a Private Message to reach out to me with any
questions.
Hedges
Posted by rockee on 31st of Oct 2014 at 11:35 am
I guess you are saying to cover because that was my target as you once said S7P might doble top or hit waive b if it did not do it sooner?
It may double top but
Posted by steve on 31st of Oct 2014 at 11:37 am
It may double top but I never said to short as yet since there has yet to be any trigger (reason to short). I have said to KEEP an open mind to ALL possibilities for many days. If YOU chose to hedge then what was your trigger to do so? A map is only a guide and not a reason by itself to short without a trigger. At this stage it's simply best to respect the trend until evidence changes and not get consumed with prognostications.
Rockee..hedging against longs at times is fine but when price moves up one can remove hedges and look for another place to hedge. I'm not aware of your plan and thus cannot comment.
You can reach me personally for any clarification.
Steve- so is the ABC down
Posted by pintopower on 31st of Oct 2014 at 02:43 pm
Steve-
so is the ABC down no longer valid?
pintopower...I will review this weekend
Posted by steve on 31st of Oct 2014 at 02:48 pm
pintopower...I will review this weekend but less likely after today's move (not yet invalidated). Irregardless, one should be trailing up stops and be on the lookout for a pullback. The nature and extent of any such pullback will be more telling. Again, this is all secondary to managing your existing trades and looking for new objective entries. There have been NO daily or weekly sell signals since during this uptrend so we remain with the trend by trailing up stops.
What if your trades are
Posted by ducati on 31st of Oct 2014 at 02:54 pm
What if your trades are weekly. It is not secondary then as you 401k dry paint system has been in cash since March. So it does matter. We are at new highs
Ducati..if your trades are weekly
Posted by steve on 31st of Oct 2014 at 02:56 pm
Ducati..if your trades are weekly then you should still be LONG as we have yet to get a SELL signal on this move up. The only ones short are those guessing tops and we have yet to get a reversal on the weekly charts. Did I not clearly say last weekend that the SPX would need to break below 1923 to reverse? I suggest you listen closely to the weekly chart comments. I sent you a Private Message to reach out to me with any questions.
HERE IS THE CHART:
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=4&mn=0&dy=0&id=p37726897594&a=229297935&r=1414782047264&cmd=print