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we should make tomorrow higher hi,
that should give you a chance to add to
shorts,
and most likely only close up sp 2-3 points,
after being up 4-6
(nasdaq will drag it down)
oil will go down (temporarily ) and
push sp up,
Ben
----- Original Message -----
Sent: Thursday, August 11, 2005 12:41
PM
Subject: Re: [RT] market outlook
There are lots of ways to play the markets. In my case, the NYSE and
NASDAQ breadth models are still showing large bearish divergences and a
complete breakdown from highs so the models suggest short trades have best
odds of succeeding. I am still hopping for higher highs for better short
opportunities but not counting on it.
Earl
----- Original Message -----
Sent: Thursday, August 11, 2005 10:32
AM
Subject: Re: [RT] market outlook
You could be right, but until there is a sell
signal the is no use fighting price action other then catching some contra
trend trades.
----- Original Message -----
Sent: Thursday, August 11, 2005 9:21
AM
Subject: Re: [RT] market
outlook
I believe that the next "big" money is going to be made on the
downside. I have been shorting these rallies with short entries at hourly
price targets and covering when decline runs out of momentum. I still
have outstanding targets in the mid to high 1250's along with resting
orders, however it's not a given that the targets will be met given the
increasingly labored tenor of the market.
Earl
----- Original Message -----
Sent: Thursday, August 11, 2005
10:03 AM
Subject: Re: [RT] market
outlook
the leg down found support at 1225 and 1245
did act as resistance as called for a retracement did occur. I
still do not have a longer term sell signal nor to I have a new entry
price for the next leg up. therefore the upside target remains in
force. Have a good week end. Ira.
----- Original Message -----
Sent: Friday, July 29, 2005 8:32
AM
Subject: Re: [RT] market
outlook
I have no longer term sell on the
SPX. I have resistance, a price objective, at 1244 and an over
all target of 1262 for the move up. My short term downside
target is 1239 which appears to have been reached and another leg down
is setting up. If the entry price is hit look for support at
1239 and a target price of 1237. Right now the entry price
hasn't been hit for this next leg down. There is also an entry
price for the next move up. If that is hit the profit potential
for that move far exceeds the current potential for a down move.
There is nothing happening right now that
says that the up move is over even though there is a retracement
currently going on.
Ira. .
----- Original Message -----
Sent: Friday, July 29, 2005
7:51 AM
Subject: Re: [RT] market
outlook
I do not trade dia or Dow
futures
only spy and sp05u
if you can translate into spy or
sp05u I can see our # mach
(you could do at your
leisure)
best regards
Ben
----- Original Message -----
Sent: Friday, July 29, 2005
10:38 AM
Subject: Re: [RT] market
outlook
This is where we differ and our
trading styles show our conflicting approach. It appears
that you are trading off of extremes that are produced by your
charts and I would trade when price has hit my entry price.
We seem to both come up with similar answers. You scale in
and I would trade the max that my money management would
allow. Both have stops. My stop tells me I am
wrong. I have no idea how you create your stop.
Right now I would be short with an
entry price of 10694 with support at 10685 and a target at
10670. Stop at 10725. All specific numbers, these are
rounded, with indicator confirmation.
do these numbers fit your
scenario?
Ira.
----- Original Message -----
Sent: Friday, July 29, 2005
6:37 AM
Subject: Re: [RT] market
outlook
Hello Ira
this is why i put only 25% of
the position and always has an exit point which is a stop
loss
Ben
----- Original Message -----
Sent: Friday, July 29,
2005 1:17 AM
Subject: Re: [RT] market
outlook
So far so good. Ben you are
a couple of days early for a real short I
believe. We are at that 10,725 resistance area and a
retracement of sorts should occur.
Once again one mans
opinion, Ira.
----- Original Message -----
Sent: Sunday, June 19,
2005 11:22 AM
Subject: Re: [RT]
market outlook
Congratulations on a great set
of charts. The interesting thing is that different
people look at the same chart and see different
things. Using the daily chart only it would take
a drop of over 250 points in the Dow to start a retracement
with a magnitude of over 1000 points. That leaves a
huge stop. For it to even begin 10,400 would have to
be taken out and there would be support at 10,000,
that would make for part of the move, 600 points +/-.
ON the up side I have a very
high price target of just over 13,000, with shorter term
targets at 11,025 and 11,280.
There are resistance levels at
10,650, 10,725 and 10,960. These resistance levels are
interim price objectives and retracements should occur from
these levels. It is the magnitude of the retracement
that will make the difference as to whether price continues
up or goes down to test previous levels as support.
Like your work Ben.
Just a little different input
using different data. Ira.
----- Original Message -----
Sent: Sunday, June
19, 2005 10:31 AM
Subject: [RT] market
outlook
The Dow Industrial
Average has broken out of the intermediate
consolidation pattern, closing above resistance at [3],
then drawing into a narrow range at [4], before further
gains at [5]. Volumes were light until Friday [5] which
experienced increased selling (signaled by the weak
close). Expect a test of resistance at 10900/11000. A
pull-back that respects 10550 would add confirmation;
while a retreat below 10550 would signal further
hesitancy.
The last year has established strong support at
10000/9750. There is also strong resistance at
11000/11500, shown by price action from 1999 to 2001 and
by recent highs in 2005. I expect to see a lot more price
action between these levels before there is a clear
breakout. Twiggs
Money Flow (21-day) signals accumulation, with a
strong rise above the zero line. If the indicator rises
above the recent high, without crossing below zero, that
would be a further bull signal.
Transport indicators have failed to follow through on
recent bear signals. Watch for a rally that could take out
the recent highs: Fedex above 90.00 and UPS,
similarly, above its May high.
The Nasdaq
Composite is testing resistance at 2100. A close above
this level (the high of the January to March
consolidation) would signal resumption of the primary
up-trend. Friday showed increased resistance with strong
volume and a red candle (weak close); so a fall below 2050
should not be discounted, signaling a test of support at
1900.
The market appears to have more confidence in
the (Dow) heavyweights.
The S&P 500 shows even greater confidence
than the Dow and is close to testing resistance at the
March high of 1225. A close above 1225 would signal
resumption of the primary up-trend.
Twiggs
Money Flow (21-day) displays a strong bull signal: a
pull-back that held above the zero line. A rise to a new
6-month high would confirm.
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