Hello Trade2Win from Ramoutar

RAMOUTAR

Junior member
40 0
My name is Jai Ramoutar, Jr. of New York City. Someone from Elite gave me a link to this site, and I'm glad I looked.

A "trees for the forest" view would be refreshing and a great learning experience for me. It would be interesting to see how many of you see the US markets. In spite of the time difference and my insomnia :), I look forward to chatting with you all. If I can be of assistance, let me know. Have a great day everyone.

Feel free to look at some of the reports I have posted on elite.


http://www.elitetrader.com/vb/showthread.php?s=&threadid=22821&highlight=ramoutar+report

May the trend be with you!
 

davelong

Member
62 0
Hi Jai,

Welcome to T2W, nice of you to take to trouble to post.
I have read a lot of yours and other's posts on Elite and found them to be very helpful, interesting and at times amusing.
T2W is a similar board to Elite where there are many experienced traders and a lot of novices ( like me) and the amount of help available is quite amazing. No matter what the question is there is always someone who knows the answer.

Kind regards

David
 

Lambchops

Active member
126 0
Welcome Jai - I havn`t read them all yet but I can see that you have put a lot of time and thought into your posts. I have just found and joined elitetrader myself. Whose posts do you recommend reading?
 

RAMOUTAR

Junior member
40 0
davelong said:
Hi Jai,

Welcome to T2W, nice of you to take to trouble to post.
I have read a lot of yours and other's posts on Elite and found them to be very helpful, interesting and at times amusing.
T2W is a similar board to Elite where there are many experienced traders and a lot of novices ( like me) and the amount of help available is quite amazing. No matter what the question is there is always someone who knows the answer.

Kind regards

David

Hi David,

Thank you for the welcome. After market hours, I prefer to interact with and help other traders instead of watching all of reality shows. :)

Every week I learn something new: a new trading demon, way to improve a discipline, trading strategy etc. I don't mind sharing, many have helped and shared with me over the years.

I see my self as a "novice" everyday. I have alot of experience, and the market has humbled me. It taught me...."it is what you learn after everything, that counts." That is a JW Marriott quote.

Thanks for the chat. Be well.
 

RAMOUTAR

Junior member
40 0
Lambchops said:
Welcome Jai - I havn`t read them all yet but I can see that you have put a lot of time and thought into your posts. I have just found and joined elitetrader myself. Whose posts do you recommend reading?


Hi Lambchops,

Regardless of where the post is or who it's author is, I find that its more meaningful when it comes from someone who not only trades, but has a simlar philoshophy as you.

I have never checked into the background of the the members, and don't know if they trade. My advice is to read through the posts that have topics which interest you. WHen reading the posts you can get a feel as to whether or not the author is a trader.

Unfortunately, there are many people out there who post and teach but do not trade. Lots of good stuff out there, you'll just need to filter through it.

All the best...
 

RAMOUTAR

Junior member
40 0
bonsai said:
Jai

why the turnaround today ?

too far too fast ?

I understand that one of the US FOMC governors said the US economy was far from being out of the woods, and my opinion is after last weeks violent drop in gold, the heavies took profits on equities and averaged down on gold. Most of the VWAPS and OBV in my trading stable point to big volume selling pressure at the weeks resistance.

These are all theories, and who really knows. I try and take the news and gossip less seriously, and trade the support and resistance levels more seriously. The technicals say selling pressure from the heavies.

I did three trades today.

bot drooy and bgo after they pulled back into solid support. Holding these for swings.

Caught a long on CEPH (my nemesis) late day and sold them at the close.


Best regards,
 

bonsai

Veteren member
4,106 11
ok, I'm not a news fan myself.

But are these heavies 'new' sellers, do you think or just opportunist bull closers types.

any clues ?
where did they put their money ?
 

RAMOUTAR

Junior member
40 0
bonsai said:
ok, I'm not a news fan myself.

But are these heavies 'new' sellers, do you think or just opportunist bull closers types.

any clues ?
where did they put their money ?


The heavies or insititutional money seems to have take short term profits not related to longer term holdings. The VWAP and OBV suggest that a large amount of buying pressure went into gold. Vertical supply and support on the $HUI (amex gold bugs) and volume bias and monetum suggest a large late day accumulation.
 

davelong

Member
62 0
Jai, bonsai,

Just when I think I have pushed back the frontiers of my trading knowledge to an incredible extent I read 4 posts and am brought very swiftly back to earth with the realization that I obviously have not hardly begun the journey.
Never mind, it looks like it will be a fascinating trip.
I will keep these 4 posts and when I can understand them I will know that I am really getting somewhere.
Seriously though ( I was being serious) the knowledge possessed
by people on these boards is absolutely awesome.

Kind regards


David
 

RAMOUTAR

Junior member
40 0
David,

Truth is I didn't really give much thought to what caused the major late day reversal, I just reacted to it. Bonsai's question forced me to recall all of the events that led up to the reversal.

Aside from having a plan for every trade, I usually take action based on reflex (some folks call it instinct). When you do the same thing over and over again, it becomes instinctive.

This thread has been very valuable to me as well. It forced me to review and change some components of my personal trading plan, which I just completed this morning.

When these types of boards are used properly, that's the desired effect: knowing you can log in and learn something. Unfortunately, there are boards in the US where people just bash each other and spew negativity, rather than seek or provide help to become better traders. My cyber trip across the Atlantic to T2W, has been a great one so far. The folks here see to have more class. Thanks.

We are all student's of the market :)
 

indexking

Active member
219 0
Hello All

Just thought I'd add my take on the current trading situation.
Personally I think that what is pushing these markets to marginally higher highs is the dumb money. These new highs are achieved on thin volumes like the other day when they Dow surged and dropped 100 in the afternoon.
If you're borrowing money to buy shares like the US people seem to be doing, and looking to wait 30 odd years for a return on your investment (S&P at nearly 40x earnings), you have to expect volatility like that. Thats the reason the Europeans haven't kept pace with the US markets.
Personally I think fair value on the Dow and S&P is 8500 and 900 respectively. I find it daunting though that there is a lot of tech share selling from Directors (on the inside). Clearly everyone's waiting for the big tumble ! And why is Gold rallying as well ??
I think that with these next earnings reports the markets could tumble as people see that the shares they hold are very expensive compared to earnings. Buy on the rumour and sell on the news seems to be a sage investement strategy.

Regards
Hugo
 

RAMOUTAR

Junior member
40 0
Hugo,


You and I share a very similar outlook on the US market. The rally seemed to be an orderly one, until it started flirting with highs in the S&P. My skepticism has kept me out of several long setups, since the volume was too light to justify the move.

Gap ups accompanied by little to no increase in volume are one of the classic signs of an unsustainable rally. Although the rally appears to be momentous, it lacks the increased volume to tackle overhead resistance (1040-1050 SPX, 34.50 GE, 95.50 IBM, 37.50-38.00 DELL, 36.00 INTC). Too many traders look at the daily & the 52 week timeframe. They don't see all of the overhead supply back further.
 

RogerM

Established member
752 6
Welcome to T2W Jai. I've already read some of your offerings on elitetrader, and they will be equally welcome here.

I am also growing very wary of this rally, apart from on an intraday basis. But I have been burned before by standing in front of it. I guess it depends on your timeframe. I see very little mention of the fact that inside sellers (directors) out number inside buyers by 34:1 - hardly an inspiration of confidence. In the longer term debt will catch up with the market, particularly when interest rates start to rise. But that will probably not be until after Xmas - and that is a lifetime away in the markets!
 

RAMOUTAR

Junior member
40 0
Roger,

Thanks for the welcome. I have gone long several times into the rally, but have cut my profits shorter. In the longer timeframes one can catch the gaps, and on an intra-day basis the follow through has been very choppy.

As I reply I have taken profits on intra-day longs. I'll remain extra cautious as we head into massive resistance overhead.
 
 
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