US Indices Intra-day Trading for August 2003

[SUNSEEKER]

I "guess " the market will gun for a rally for the first 35-40 minutes today, and then we will see if there is any juice left for more upside. I would use that as a pivot for today.

Question: Are there anyone here who uses hourly charts based on "numbers" to forecast cycle changes? My question essentially is: do you use 6, 7 or 8 hours as your daily count?


I see today as volatile and monday as the day to go short. At this point i dont know what time yet on Monday....

have a nice Bank Holiday Monday, and for those who signed up for the free seminar on Bloomberg, I look forward to meeting you

Sun

 

[SUNSEEKER]

while I was typing this the market rallied 5 SP500 points...some genius I am now he he

 

[rustic1]

so therefore when the markets open do you expect it to go even higher

Rustic

 

[2468steve]

Anyone tempted to fade this spike.......

 

[SUNSEEKER]

not tempted to fade, want to asses strength and short as per my plan for the day....should be volatilie today

 

[2468steve]

hmm.....took a binary on Dow to close down at 12..... safe way to play it... have seen this all reverse in the past

 

[tst]

Just for fun, though I will probably fall flat on my face here are some turning points for today:

10:30 ish

12:40 ish

14:20 ish

15:10 ish

edit: obviously, these are not GMT but market time

 

[tst]

Sunseeker

I just wanted to say how much I have enjoyed and learnt from your threads here at Trade2Win. A while ago I attended a day seminar you gave when you were with Fins. Your posts here share qualities which came across very clearly on that day: a total commitment to trading and a total commitment to helping others...Together they make an electric combination.

The accuracy of your path for the day posts were as I think Chartman pointed out on this thread were 'uncanny'. Thanks for sharing them with us for a while. I am sure they also provided a magnetic pull toward the trade2win forums.

I look forward to reading and following the trajectory of your future posts here.

all the very best

tst

 

[SUNSEEKER]

thx TST, I hope you will let me "entertain" you on the free seminar in London...

 

[SUNSEEKER]

maybe i am a bit early here, 10 min, but will try a short at 1010.50

 

[2468steve]

nice drop Tom

 

[SUNSEEKER]

Took 4 on that spike down, 1006 is line right now, BIG volume coming in

 

[SUNSEEKER]

stop on balance....have a fantastic Bank Holiday weekend, I hope the weather si with you

 

[temporarilylight]

you da man tom

 

[mully]

Isn't that a nice Piper 'goat' on the SP500 minute chart.

 

[SUNSEEKER]

whats a Piper goat?

 

[tst]

Sunseeker

I look forward to be entertained but what I really need is my market clocked entrained.

tst

 

[SUNSEEKER]

I took it all off at 1004.50, I missed that little scary spike down...hmm...

dont you find that it is far easier to get into a position than it is to get out of one.....?

 

[mully]

Sunseeker

We, on the FTSE thread, quote regularly from John Piper's futures strategies in his book "The Way to Trade"

GOAT= failed breakthrough..."very often a substantial move will follow a failed breakthrough."

Bonsai noted one in the FTSE on the 19/8/2003 when the FTSE failed to take out opening thrust of 4286.9. As you know market quickly fell away to 4196.5 the next day.

Hope that helps from the FTSE100 watchers/traders.

 

[SUNSEEKER]

thx mully...