I think you're right. My thoughts are - the tech sector is the bull's problem for now. there will probably be another opportunity to short early tomorrow. I'm thinking that the next bottom will be pretty important and has a good chance to be an intermediate bottom. My time cycles expect this to happen around the middle of next week. However, I've seen enough inversions to always keep the alternate scenario in mind and I will flip if needed because of the importance of the next move.
I see everywhere that they say sentiment is bearish. However, that alone isn't enough. Time and price and a little more fear. And someone needs cheaper AAPL stocks before earnings, and fast :-)
How close do you feel we are to a bottom? I still think capituation is next week but the bottom is closer than many think. I'm open to a more bearish scenario but since I've been holding short for so long I don't want to get "emotionally involved" in the scenario, for lack of a better term.
Well, I dont see a bottom at the moment. There are some indices which have reached their targets but that is not yet a signal. Bears are still in control and I have no evidence to conclude otherwise. From speculation POV, yes, an evil reversal after early week capitulation sounds good, but that is still my speculation only :) Congrats for your trading 1!
I'm posting down here where no one can see :-) I'm surprised, but this doesn't look like IT bottom at all. We may get to 1200, but it looks to me like more tricks await us in November. Yuri is making everyone dizzy.
Okay, once again posting my random thoughts down here - incognito...
I still think 1197ish is a possibility by monday-tuesday but that's not as important. I'm expecting the pullback to begin tuesday so I'll be out of 75 percent of my longs on monday most likely and possibly be short on Tuesday. However, I think we will make a higher low and move to at least 1250 before the next evil shot down.
What is confusing to me is how they confirmed this move and the context. It still looks to me like the bigger context is down, which surprises me a bit considering the size and time of the move. But, if this plays out - wow, this will be fun from 1250 down to the next destination. My scenarios always change due to the market action, but for now that I my thought.
I know I don't give my entries and a lot of specific targets, but I do lay out a gameplan consistently and lately it hasn't been that far off. I expected an early week bottom and got it. And hopefully I am trading right, I took 25 percent off yesterday because it's still early for the move down IMO. However, if price moves below my level, I'll be stopped out for a gain. So no worries. I'm having a great time playing these moves - this has a been a great trading market.
I think you're right. My thoughts are - the tech sector is the bull's problem for now. there will probably be another opportunity to short early tomorrow. I'm thinking that the next bottom will be pretty important and has a good chance to be an intermediate bottom. My time cycles expect this to happen around the middle of next week. However, I've seen enough inversions to always keep the alternate scenario in mind and I will flip if needed because of the importance of the next move.
ReplyDeleteI see everywhere that they say sentiment is bearish. However, that alone isn't enough. Time and price and a little more fear. And someone needs cheaper AAPL stocks before earnings, and fast :-)
Just my two cents, I'm still pretty new at this.
Contra ataque Gardel - Celedonio!!
ReplyDeletehttp://www.youtube.com/watch?v=9L7HS8j82bc
Celedono Flores es mi letrista favorito de tango ( Margot, Mano a Mano, el bulin de la... Viejo Smoking etc
): genio del lunfardo!!!
Salu :)
Sí señorrrr!! Muy bueno. “Mano a Mano” alcanza para encumbrar a cualquiera.
ReplyDeleteHacía mil que no escuchaba “Pan”:
“ Se durmieron todos
cachó la barreta,
Si Jesus no ayuda , que ayude Satán”.
Enorme!!!
Gracias ¡
Very thoughtful plan. I agree on most of it. True bearish move should come next week. Meanwhile, range action is most probable IMO.
ReplyDeleteThanks
How close do you feel we are to a bottom? I still think capituation is next week but the bottom is closer than many think. I'm open to a more bearish scenario but since I've been holding short for so long I don't want to get "emotionally involved" in the scenario, for lack of a better term.
ReplyDeleteWell, I dont see a bottom at the moment. There are some indices which have reached their targets but that is not yet a signal. Bears are still in control and I have no evidence to conclude otherwise.
ReplyDeleteFrom speculation POV, yes, an evil reversal after early week capitulation sounds good, but that is still my speculation only :)
Congrats for your trading 1!
GL
I'm posting down here where no one can see :-) I'm surprised, but this doesn't look like IT bottom at all. We may get to 1200, but it looks to me like more tricks await us in November. Yuri is making everyone dizzy.
ReplyDeleteOkay, once again posting my random thoughts down here - incognito...
ReplyDeleteI still think 1197ish is a possibility by monday-tuesday but that's not as important. I'm expecting the pullback to begin tuesday so I'll be out of 75 percent of my longs on monday most likely and possibly be short on Tuesday. However, I think we will make a higher low and move to at least 1250 before the next evil shot down.
What is confusing to me is how they confirmed this move and the context. It still looks to me like the bigger context is down, which surprises me a bit considering the size and time of the move. But, if this plays out - wow, this will be fun from 1250 down to the next destination. My scenarios always change due to the market action, but for now that I my thought.
I know I don't give my entries and a lot of specific targets, but I do lay out a gameplan consistently and lately it hasn't been that far off. I expected an early week bottom and got it. And hopefully I am trading right, I took 25 percent off yesterday because it's still early for the move down IMO. However, if price moves below my level, I'll be stopped out for a gain. So no worries. I'm having a great time playing these moves - this has a been a great trading market.