Friday:
3:49
holding the sds overnight.
3:17
mental stop .94 in sds
2:57
poss head shoulders spx 3min
2:52
TRADE ok i'll pay 36.99...filled on sds ...stop .86
TRADE target sds first 3708, 3718
2:47
will buy sds limit 3697..not filled yet
2:38
spx bear diverg 3min setting up for possible short...not yet...uncomnfirmed...still forming
2:32
considering sds at 36.88...not yet
2:15
for sds 15min, this can also be considered a backtest of the bull flag
2:10
spx marginally broke the 15min DTL... see if it backetests and pops back down
1:37
In the 10min chart for Thurs / Fri, SPX has formed either a bullish falling wedge or an bear desc triangle (seems more like triangle to me right now). Breakout of the triangle suggests a move to 1064 next.
1:22
still looks like spx will break todays low, to me
1250
i see sds 37.29 next...last 37.18
1237
spx 60min chart...close to getting the 20/50 MA bear cross. spx last 1088
12:33
charts suggest the spx low of day will break
1232
taking some sds here at 37.18. will hold for swing, or sell daytrade if it moves up enough
12:29
stopped out of sso...3744 vs 3737
12:26
sso hit .38, only one cent from my stop...will prob get stopped out\\
1217
this pattern in spx usually does UP first then Down...and is time for that today still...observing to see if it happens. spx last 1088.87
12:09
sso stops raised to
36.37, lil lower than
breakeven...mixed signals now and i
dont want to be caught in a drop to
37.28
1155
the dbl bot 3min spx mentioned at 1137 has produced the small bounce up here from 1087 to 89. now watching to see if that causes the 10min bull divergence to complete and materiali9ze. spx last 1089
1154
tza could be headed to 1247/43. last 1256
1150
ES looking to backtest up to 1089 then 1091. the 1091 is a level as well as a trendline touch
1149
sso 36.53 expected here. last 36.44
1147
tza short term swings would tighten stops here or sell 50%...longer term swings would hold....this could be it for tza today,,,,it close to breaking out but could fail. usually first try does not breakout. tza last 12.56
1137
spx is setting up a bull diversion in 10min chart...not near finished but setting up...that should cause spx to bounce up. also a double bot in 3min for mini bounce
1132
TRADE: target for tza 14.21...will calc other targets higher and lower later.
11:21
i'm out of sds daytrade...but hit 37.24 and backed down... 1cent from the prior limit order i had at 37.23
10:47
TRADE: in sso 36.44
TRADE: sso target 36.87, with intermin targets, and also higher targets...will calc later
10:21
For my next swing short entry, I'll pick up some spxu instead of tza. The tza seems a little better, but the advantage of spxu is i can use the ES futures to guide decision making in addition to the
10:13
out of 100% of sds....made 5 cents or so....basically breakeven.
when the ES 15min and spx 15min are this contradictory, i usually step aside....they will resolve themself...right now i need to trust the ES which says it wants to go higher...spx says lower...i'll trust the ES for now. thats why i got out of the sds. for now.
10:09
raising stop on sds to 37.06 for 50% of position...to reduce risk /# of shares
10:05
cancelling sds limit sell 37.23. that was only for first 10 minutes. will do manually now. sds 37.48ish is possible target, i have not calculated it yet for sure////
9:57
more sds .93
9:41
Will consider more sds at 36.70...not yet
9:25
limit sell sds 37.23...not liking action..will sell and re-enter if merited
9:09
Bought some sds pre-market at 37.07. Just scalping for now, since the price is a little high.
7:25
we got our answer for ES 1086 or 1083...the 1086 did break and hit 1083 which held. i do expect ES 1083 to hold for the day, or at least until a bounce that makes a right shoulder. (Could make right shoulder today, then go down, but more likely not)
7:06 AM
TZA stops can be set below 1174 1133 1127 or 11.13.
Friday 6:49 AM
ES futures tested horizontal resistance at 1095 twice last night, and the R held as expected, causing the ES to decline lower to test horiz support at 1091, which also broke lower as expected. Last ES 1089.
A move to ES 1086 is expected.
1086 is where it gets interesting. The 1086 could hold, and cause a bounce back up to 1095 and then 1099/1101 (if 1095 breaks higher, OR it can break and then go lower to 1082, and then bounce up to 1086 then 1095, 1099/1101.
What does all of this mean? For now, I will be shorting these rallies. The Russell 2000 (short via long TZA) is behaving similarly. I might daytrade the rallies long, but probably will limit swings to the short side.
SPX equiv to ES 1086, 1083 are SPX 1088 and 1085
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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