Path For The US Week Of 23 June 2003

[barjon]

Tom

Enjoyed your Bloomberg slot and you posts here - the chart picture is worth a thousand words.

There must be some scientific base to astrological cycles as far as human behaviour is concerned (birds start flapping their wings at migration times in response to their in-built body clocks for example) and Hougaard's Market Cycles has a nice ring to it!!

Good trading

Jon

 

[Helenqu]

I suspect that women have a natural advantage in this area as we are wired into a 28 day cycle anyway Maybe is why we supposedly make better traders?

 

[SUNSEEKER]

true Helen, and you are far more intuitive, and less focued on short-term instant gratification

 

[a320]

Seems to be program trading taking place, PREM sell set @ -2.52.
Fair -1.16 buy 0.2 on S&P 500.

Cheers a320
.

 

[sidinuk]

Sunseeker,

From your chart it looks as though you were expecting the dow to rise a little from the open then head down for a bounce at about 3.30pm with an uptrend for the rest of the day. Is that right?


Tim

 

[SUNSEEKER]

Tim, that is right,,,,

I am long from here, but I dont like it Tim....this looks weak....but heck, stop is in, I bought the Dax futures here at 3219-20...running the balance right now

 

[Helenqu]

ESTX hit the S1 pivot and bounced up beautifully, CCIs are looking uncertain at the moment though.

 

[SUNSEEKER]

time is coming in here. I am stopped out for a loss. I have re-entered here basis time...but this is a weak market today

 

[sidinuk]

Monday's are usually nice trending days once it's sorted out which direction it wants to go in. You usually get the bounce about 3.00pm if it's going to turn around, so might be leaving it a bit late now. It made a little attempt to turn at 3.00pm which didn't amount to much (fortunately as I'd just shorted the ES!). I think probability favours a consolidation at these lows then a further break down this evening.

I think the low is in for now at around 980 on the ES. Could get choppy between 980 and 985 for the next few hours. A little pop above 985.5 before falling back down again. Why 985.5? because that's where my stop is!

 

[rossored]

Tom

No offence intended with this post, I think your input and opinions are superb, this just caught me eye as being quite relevant at the time of posting...

Sure we havent got the chart upside down and back to front today???

 

[SUNSEEKER]

well, I am flat now, waiting for 978.50 in the SP, which is a 19 by 19 down. if this does not hold the market and cause shorts to take profits, then we should push much lower...right now, just sideways

 

[SUNSEEKER]

rr, YOU ARE RIGHT....

I am long here at 979 in the SP basis that the 978.50 has been hit. That number is a 1:1 of 19 down...it was a major target for today....let us see if we get some buyers in off this number and then the push higher I was looking for earlier....

 

[sidinuk]

you could be right Tom but personally I don't like to pick bottoms. I prefer to keep my fingers clean and wait for a show of strength to make sure this particular bottom doesn't have a hole in it.

 

[SUNSEEKER]

78.50 just came out.,..the 1:1 will be void at 78 evens

 

[a320]

On the bright side, these who watched Tom get teased by Chantalle, (who looks better with a bob) will know doubt be impressed by calling the top and implying this was just a 50% retracement in an over all bear market


Cheers a320.

 

[SUNSEEKER]

Chantelle is almost as good looking as me!!!!

 

[SUNSEEKER]

come on guys, that should cause a response!!!!

 

[Helenqu]

Sorry I missed you on TV and I've never seen Chantelle so I can't possibly comment

 

[sidinuk]

I can't believe I missed it! Darn Big Brother and their new African housemate!

 

[a320]

Emma Crosby on CNBC always looks v well, Kavata has a large following on these boards as well!! Closely followed by Mark Barton


Nice candles on 1 min SPX, Head Fake around the Hammer retest, to form a morning star.