Re: [RT] S&P

[Ben <profitok@xxxxxxxxxxxxx>]

agree

Ben

----- Original Message -----

From: mr.ira

To: realtraders@xxxxxxxxxxxxxxx

Sent: Thursday, July 14, 2005 11:58 AM

Subject: Re: [RT] S&P

Ben:

 

Everyone enters and exits their trades based upon the system they use.  I would exit based upon reaching price objectives and then confirmation from my two indicators.   I prefer selling into strength rather then being stopped out due to weakness.  I liked to give it to them when they screamed for them and buy when they were dumping them.  Whom ever they might be. 

 

At this point there is no position to defend and all that is required to re-enter the market is a buy or sell signal.

----- Original Message -----

From: Ben

To: realtraders@xxxxxxxxxxxxxxx

Cc: ntt-list@xxxxxxxxxxxxxxx ; e-mini_traders_anon@xxxxxxxxxxxxxxx

Sent: Thursday, July 14, 2005 8:12 AM

Subject: Re: [RT] S&P

Hello Ira

 

the 2 most important warning sighs are:

a: new high new low  did not improve last 2 days with higher prices,

b: McClellan osc for issues and vol are showing bearish divergence,

As you know   , My belief  about taking profits is Very important,

this is why I called my 2 main indicators , one profit index and one long term trading,

Both  measure profits at different time frames,

my sell is cash close under 1212

p/c is still pointing higher, and so is volume,

set back  is just 2-3 days to 1180

then new highs,

Ben

----- Original Message -----

From: mr.ira

To: real traders

Sent: Thursday, July 14, 2005 10:56 AM

Subject: [RT] S&P

This rally is over.  I don't know what is going to kill it, but today should be the last day with a retracement on Friday.  Let us see how that works out. 

 

I don't have a sell signal, just a warning that it is time to take profits.  Ringing the cash register is the name of the game.  Like a very wise old timer said, "  I will give someone else the first 10% and the last 10% as long as I can get that 80% in the middle".  The indication now is to take the 80% and sit back and wait for the next signal.

 

 

Ira.

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