I thought it was interesting that the close was right at the white triangle that I have been charting for some time. This may be a backtest and significant support level.
What a great morning! My TZA, FAZ, ZSL are all up 10% from yesterday already. Might take some off the table to lock in profits. Majority of my TZA and FAZ are around 30%. Gravity works very well.
Great insight and calls Gabe. Zig you were bang on with the bounce there. I bought a small long position near low, but will monitor closely....I am a natural bear and prefer shorting. I should be busy today. Thanks again everyone for your input and especially SC for all his work on this site.
ZigZag / Gabe / SC - great calls!! I am a close follower and quite impressed with the high quality on this site - just learning cycle theory but quite amazing stuff I must say!!
I was just asked that on the open by a group of traders....personally when I come off of large trading positions, even though there are day trades hitting ya in the face, I usually sit back and let the profit and the feeling of success sink into my memory membrane before engaging the market! Large position success pump your adrenals!
Yes, off of the 240 min and 3 min entrance the day trades are a no brainer.....in fact there is another as I type this! On the swing basis I am looking at the 240 min for the swing at this point and day trading setups on both sides today!
Had computer issues today, frustrating. Was following the mkt all day with some traders, but am only now able to view my charts and post. Will have comments later. Thanks.
Can you say few words, in terms of help understanding what is the 'road map' from here to your target of S&P below 1000 ? esp. if the words can also help grasp the message of your chart. 'road map' = Are you expecting a weak/strong bounce from current 1129 level on S&P; or from a lower level? And what's your area, most likely area, for recharging the shorts on S&P. (Your help and expertise is much appreciated on this board. and so is SC's, though for the current decline he did not foresee it.)
What a great morning! My TZA, FAZ, ZSL are all up 10% from yesterday already. Might take some off the table to lock in profits. Majority of my TZA and FAZ are around 30%. Gravity works very well.
ReplyDeleteI have covered shorts from Fridays cycle peak. 85 SPX points straight down in 4 days is good enough for me. :-)
ReplyDeleteCould see a bounce here soon on the 60min cycle chart..
ReplyDeletehttp://tinyurl.com/3uxwncn
Sold majority of my shorts also at open. With 30% in a week, I shouldn't be too greedy. Great work guys.
ReplyDeleteGOOD TRADING GUYS!!!!!!!!!!!!!!!!!!!!
ReplyDeleteAwesome calls Gabe!!
ReplyDeleteThanks! The group kicked the shit out of the market this time! Great to see! joed
ReplyDeleteHi Gabe,
ReplyDeleteAre you switching to long positions now?
Thx
Great insight and calls Gabe. Zig you were bang on with the bounce there. I bought a small long position near low, but will monitor closely....I am a natural bear and prefer shorting. I should be busy today. Thanks again everyone for your input and especially SC for all his work on this site.
ReplyDeleteZigZag / Gabe / SC - great calls!! I am a close follower and quite impressed with the high quality on this site - just learning cycle theory but quite amazing stuff I must say!!
ReplyDeletefivir
ReplyDeleteI was just asked that on the open by a group of traders....personally when I come off of large trading positions, even though there are day trades hitting ya in the face, I usually sit back and let the profit and the feeling of success sink into my memory membrane before engaging the market! Large position success pump your adrenals!
Yes, off of the 240 min and 3 min entrance the day trades are a no brainer.....in fact there is another as I type this! On the swing basis I am looking at the 240 min for the swing at this point and day trading setups on both sides today!
DD
Thanks for your kind words! joed
Thanks guys…Excellent calls Gabe and Fartninja33. Good to see that our version of Operation Twist was on the money :-)
ReplyDeleteI am very curious to hear from SC. I am very interested in knowing how/why the cycles failed in such a way.
ReplyDeleteThey need to hold it here, or things get ugly. Gonna try a small long now.
ReplyDelete$XII
http://tinyurl.com/3ndr4yk
ZigZag,
ReplyDeleteIf it gets any uglier they might have Phyllis Diller ringing the closing bell.
PK, that would be ugly. :-)
ReplyDeletehttp://tinyurl.com/3c4tfxs
Had computer issues today, frustrating. Was following the mkt all day with some traders, but am only now able to view my charts and post. Will have comments later. Thanks.
ReplyDeleteso is the consensus that we go sub 1000 on the S&P from here?
ReplyDeleteMy forecast for the market a month ago was scoffed at by many............guard your investments!~ joed
ReplyDeletehttp://img4.imageshack.us/img4/1425/spydaily3.gif
Gabe,
ReplyDeleteYou have been spot on. thanks.
Can you say few words, in terms of help understanding what is the 'road map' from here to your target of S&P below 1000 ? esp. if the words can also help grasp the message of your chart.
'road map' = Are you expecting a weak/strong bounce from current 1129 level on S&P; or from a lower level? And what's your area, most likely area, for recharging the shorts on S&P.
(Your help and expertise is much appreciated on this board.
and so is SC's, though for the current decline he did not foresee it.)
Holding longs...........trailing!
ReplyDeletehttp://img856.imageshack.us/img856/6781/tltdaily.gif