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meanVelocity's Thread
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meanVelocity's Thread

  #41 (permalink)
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This mornings short setup was good, noon short setup off new highs barely dipped, and the recent one volatility contracted like ridiculous...
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Market has started to demonstrate non RORO behaviors today with index correlation heading downward.

Decent day, but should have went back to sleep after noon...


While the plan to short resistance setups at new highs on Thursday worked out fine, it didn't perform nearly as well as expected. Looks like I am a little hasty on joining the bear team.

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  #42 (permalink)
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*Taps finger on desk... *Tap tap tap*

Ok, things are looking great for shorting resistance tomorrow provided we gap up or get a morning rally after the jobs report. One of the setups should really collapse and stick.

As for the estimated prices I would like to short... Near 2050 on the cash.

If we get a drop, just going to have to wait for us to head back to the highs again next week to short again.


Last edited by meanVelocity; November 6th, 2014 at 04:24 PM. Reason: Price preferred...
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  #43 (permalink)
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If 2046 sounds a little high... Thirteen out of the last fourteen days we have hit or exceeded a daily resistance level which is at 2046 tomorrow.

Probability of hitting that area isn't exactly low...

Todays level is 2034. We have not hit it.

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  #44 (permalink)
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Woops, looking at wrong range number last night. Resistance for the day is actually around 2038 cash, not 2046.

Jobs report was kinda blah... I was hoping it was a good one so it would knock the market into Resistance hard.

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  #45 (permalink)
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Wow, that short took serious patience... Just gotta trust the math! Took a long frigging time for long positions to spook.

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  #46 (permalink)
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Is it just me, or has the DOW become high beta relative to the S&P? Makes no sense, but it's behavior is that way.

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  #47 (permalink)
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You may have noticed my only plan this week has been to just fade resistance, fade fade fade!

It's not really as "counter-trend" as you think it is. We have risen twelve points over the last five days. Resistance has been moving up an average of 2.5 points per day. There is plenty good risk/reward for shorting if you position high enough.

Next week, the plan is the same... Fade after new highs near at resistance... Next week we are projected to fully lose all momentum effects. The only way the market will be able to punch into the highs will be news catalysts or after 2-3 day dips.

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  #48 (permalink)
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meanVelocity View Post
You may have noticed my only plan this week has been to just fade resistance, fade fade fade!

It's not really as "counter-trend" as you think it is. We have risen twelve points over the last five days. Resistance has been moving up an average of 2.5 points per day. There is plenty good risk/reward for shorting if you position high enough.

Next week, the plan is the same... Fade after new highs near at resistance... Next week we are projected to fully lose all momentum effects. The only way the market will be able to punch into the highs will be news catalysts or after 2-3 day dips.


No disrespect intended, but we're in the midst of a ~180 point rally off the most recent swing low. Seems pretty counter-trend to me. You've been bearish this market awhile now... How deep could your pockets possibly be?!

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  #49 (permalink)
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zander931 View Post
No disrespect intended, but we're in the midst of a ~180 point rally off the most recent swing low. Seems pretty counter-trend to me. You've been bearish this market awhile now... How deep could your pockets possibly be?!

Attachment 165055

I'm not really bearish. This particular setup suggests a two wave rally which means it will be February or later before the next major drop.

However, these next few weeks we will enjoy a mostly sideways market with decent pullbacks.

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  #50 (permalink)
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This current move is a momentum move, and it's end won't be confirmed until next week at the earliest.

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