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With all due respect to the technical stuff... The Dow will make it to
10,000 by the end of August.
G
τΏτ
---Gitanshu Buch <OnWingsofEagles@xxxxxxxxxxxxx> wrote:
>
> Hello everybody
>
> Amidst all the gloom and doom "Crash" emails received in my Inbox
over the weekend, two lone rangers - Bob Roeske and Clyde Lee - caught
this bounce beautifully.
>
> We may have been witness to a double bottom that could take us up
3-4 strikes on the OEX in the next 2-3 days from this point on.
> The attached chart shows the real time application of some of the
methods they listed, netting a 61% trade ROI on OEX August 565 calls
intra-day today.
>
> Active SnP traders would recognize that in each of the 4 days'
selloff this past week, the market bounced from pivot support levels.
Looked controlled enough for me to go long after repeated attempts to
breach today's S1 failed.
>
> Today's S1 double bottom also coincided with other supports (MA
bands, Vix reversion to mean, retracements, and the more
unquantifiable seasonal money flows into the market) - and
coincidentally, Jeff Walker's sentiment survey turned bearish :)
>
> With limited trading experience in USA and not many brokerages
willing to trade overseas equities that I'm more familiar with, I
decided to teach myself the ropes here so that I could trade these
markets. Like many of you, it took me time, money and emotional
support from family to find rhythm. Along the way I added knowledge of
derivatives trading to my arsenal - and with that the realization that
derivatives are like a 1200 cc mobike being given to someone more used
to riding bullock carts.
>
> July marks some sort of personal landmark after a few experiences of
near-obliteration over the past 3 years - I have private investment
money being placed at my disposal for trading.
>
> Just wanted a public forum to thank my professors at the School for
Hard Knocks.
>
> Eddie Kwong, John Boggio and Scot Billington for making RT possible
(Natures Pulse / Symwaves are not yet my forte); Larry Connors's books
and Professional Traders' Journal; OEX Trader/Momentum Cycles (Bob
Roeske's website which I subscribe to), the many books that don't
gather dust on my shelf, the many books yet to grace my knowledge
base, and the "Unknown Soldiers" that lurk on RT and occasionally
contribute gems that take me on journeys in search of trading
excellence.
>
> Please excuse the specific brand names - this is not a commercial
plug - just recognition that not everything commercially sold is snake
oil - and at least this trader learned the ropes to a new environment
and when he applied it with some degree of patience and consistency,
made a living out of it.
>
> Regards
> Gitanshu
>
<HR>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content="text/html; charset=x-user-defined"
http-equiv=Content-Type>
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV>Hello everybody</DIV>
<DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000
size=2></FONT></FONT> </DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000 size=2>Amidst all
the gloom
and doom "Crash" emails received in my Inbox over the weekend, two
lone rangers </FONT>- Bob Roeske and Clyde Lee - caught this bounce
beautifully.
</FONT></DIV></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>We may have been witness to a double
bottom that
could take us up 3-4 strikes on the OEX in the next 2-3 days from this
point
on.</FONT></DIV>
<DIV><FONT color=#000000 size=2>The attached chart shows the real time
application of some of the methods they listed, netting a 61% trade
ROI on OEX
August 565 calls intra-day today.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Active SnP traders would recognize
that in each
of the 4 days' selloff this past week, the market bounced from pivot
support
levels. Looked controlled enough for me to go long after repeated
attempts to
breach today's S1 failed. </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Today's S1 double bottom also
coincided with
other supports (MA bands, Vix reversion to mean, retracements, and the
more
unquantifiable seasonal money flows into the market) - and
coincidentally, Jeff
Walker's sentiment survey turned bearish :)</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>With limited trading experience in USA
and not
many brokerages willing to trade overseas equities that I'm more
familiar with,
I decided to teach myself the ropes here so that I could trade these
markets.
Like many of you, it took me time, money and emotional support from
family to
find rhythm.<FONT color=#000000 size=2> </FONT>Along the way I added
knowledge
of derivatives trading to my arsenal - and with that the realization
that
derivatives are like a 1200 cc mobike being given to someone more used
to riding
bullock carts.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT color=#000000
size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>July marks some sort of personal
landmark after
a few experiences of near-obliteration over the past 3 years -
</FONT><FONT
color=#000000 size=2>I have private investment money being placed at
my disposal
for trading.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT color=#000000
size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Just wanted a public forum to thank my
professors at the School for Hard Knocks.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Eddie Kwong, John Boggio and Scot
Billington for
making RT possible (Natures Pulse / Symwaves are not yet my forte);
Larry
Connors's books and Professional Traders' Journal; OEX Trader/Momentum
Cycles
(Bob Roeske's website which I subscribe to), the many books that don't
gather
dust on my shelf, the many books yet to grace my knowledge base, and
the
"Unknown Soldiers" that lurk on RT and occasionally contribute gems
that take me on journeys in search of trading excellence.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Please excuse the specific brand names
- this is
not a commercial plug - j</FONT><FONT color=#000000 size=2>ust
recognition that
not everything commercially sold is snake oil - and at least this
trader learned
the ropes to a new environment and when he applied it with some degree
of
patience and consistency, made a living out of it.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Regards</FONT></DIV>
<DIV><FONT color=#000000 size=2>Gitanshu</FONT></DIV></BODY></HTML>
> ATTACHMENT part 2 image/gif name=OEWHM 7-27-98.gif
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