Wednesday, September 21, 2011

I shouldn't be posting this

It was all bear's business today. Well earned after a double top (ES - SPX)  I never believed in .
What to expect?. From SPX perspective they blasted a couple of levels just like that, so they may go back to retest them early tomorrow. But a good trader will only use those moves to add to his existing position from 1220 ish. Target should be around ES 1124, BUT not limited to it as ES1116 is also very logical. Some support could be found around ES1138 but it will likely not hold.

My take: Follow Nasdaq.
Yes, this one is still ST bullish , and I cannot kill that trade until NDX 2238 is taken out with authority.
Again, this is sucker trading, not only because of the index but because of IT trend. But I still believe in it.
We 've entered long NQ avg. 2264 earlier this week and managed here and there, but last batch is underwater currently. Key opening level for tomorrow is 2253 for this future IMO.

Trade safe = stick to IT trend ( bearish)






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8 comments:

  1. moustachelessWed Sep 21, 07:56:00 PM EDT

    Que grande Milva!!!

    Grossa en lo que venga: Tango / Brecht-Weill / Canzonetta...lo que le pidas :)
    -yo la descubri con Piazzolla, pero eso no era mas que la punta del Iceberg!!!

    http://www.youtube.com/watch?v=PFV6CNAANOY

    ReplyDelete
  2. moustachelessWed Sep 21, 07:58:00 PM EDT

    ps :)

    http://www.youtube.com/watch?v=3PRqcartAlY&feature=fvsr

    ReplyDelete
  3. Andrew ChangTue Sep 27, 04:23:00 AM EDT

    Hi Pata, are we going back to 1200+?  It looks like a successful retest of the August lows and new highs ahead.  Appreciate your views and hope you will come back to blogging again.

    ReplyDelete
  4. pataconTue Sep 27, 05:50:00 AM EDT

    Hi Andrew,

    Yes, the setup we ‘ve been following is alive and kicking, I am happy I believed in it even when we tested ES1102 last week. BUT I have good reasons to recommend extreme caution with longs here, it is NOT a solid move so they can crash it any time. If you are long from 110x area manage and hold some but no buying here is safe IMO.
    I will post a recap later this week.



    GL

    ReplyDelete
  5. MyLifeMyTradeTue Sep 27, 05:27:00 PM EDT

    Pata - how can I get back into TGF - I emailed you earlier too that my CC expired and paypal stopped making payments and I got kicked out. Please reply at mylifemytrade AT yahoo DOT com.

    ReplyDelete
  6. pataconTue Sep 27, 05:45:00 PM EDT

    You ‘ve got an email with the information to rejoin.

    J

    ReplyDelete
  7. MyLifeMyTradeTue Sep 27, 10:03:00 PM EDT

    I made the payment. Do I get the instructions for login password automatically? Or do you send it out?

    ________________________________

    ReplyDelete
  8. ckeltnerWed Sep 28, 10:19:00 AM EDT

    Where is everyone posting at?

    ReplyDelete

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