Mini Russell 2000 Index

[Joules MM1]

you implying I make hindsight calls? pretty much all of my hindsight posts are simply explaining what I saw, hence the paragraphs all over my screenshots, I don't have the time to write that live whilst trading.

if you follow my blog at all, you will also see that I set a target for the ES of 1090-1100 back in August and September, I said that we would find some resistance there and to watch for possible supply coming in, as far as I know, that isn't hindsight. I also made some foresight calls in the XAO thread I think it was.

if I could figure out a way to post live thoughts, then I would, but trading the timeframes I trade, its near on impossible to post what I think is going to happen next as by the time I'm finished explaining it, especially without charts, the move has happened.

Trader Mikes blog is very good, yes.

easy up chap...no swing was taken....

 

[ThingyMajiggy]

easy up chap...no swing was taken....

No problem, just said that incase you were taking a swing.

I've been away, will get back into this thread tonight.

 

[ThingyMajiggy]

Pre-market looks bullish, bit of buying came back in end of last session, had a bit of testing during globex, wouldn't be suprised if we have an up day...at this stage, have to be careful though, keep an eye out for selling.

 

[ThingyMajiggy]

1 point trade I did just now, link to my blog, still can't upload pics here.

 

[Joules MM1]

Pre-market looks bullish, bit of buying came back in end of last session, had a bit of testing during globex, wouldn't be suprised if we have an up day...at this stage, have to be careful though, keep an eye out for selling.

had a solid ss monday on the spx thanks to the rut...the rut's failure to confirm the upward news passage was a clear signal of selling the strength....quite possibly the fed annoc that's due maybe a target trigger for a burn-up.....

 

[ThingyMajiggy]

1.5 point short from this morning, shorted on no demand, +$145.20

 

[Joules MM1]

sam, is the break-out of the channel you drew on the 28th giving you a sell bias.....solid break of that channel and non-confirmation of the spx/dow have been good sell signals ......maybe that period is over with a surprise short-cover attack.....an interesting remark from Rennie Yang of Market Tells "Something's got to give... Since 1990, $RUT has never closed lower on a 2:1 positive breadth day"

 

[ThingyMajiggy]

sam, is the break-out of the channel you drew on the 28th giving you a sell bias.....solid break of that channel and non-confirmation of the spx/dow have been good sell signals ......maybe that period is over with a surprise short-cover attack.....an interesting remark from Rennie Yang of Market Tells "Something's got to give... Since 1990, $RUT has never closed lower on a 2:1 positive breadth day"

no sell bias just yet, we are down into the area of previous buying....i would like to see a break of 550, lower highs and lows before I get too negative. if the channel breaks, you are vulnerable, also need to watch for demand drying up, easy to spot, effort will diminish, bears will then be in control.

 

[Joules MM1]

......with support of rut, long the dow......rut impulsive moves north and all moves against are horizontal hooks.....percentage wise the rut gives good clues

 

[ThingyMajiggy]

it does give good clues, I really like it actually, trading that along side the ES, comparing the two.

what a session last night, really wish I wasn't asleep, some great long entries, good examples of effort...on the 9 minute, we had a down move, wide spreads, volume increases, then the spread starts narrowing...capping if you may, it gets no result from the down move, 1 up bar, then its jabbed back down and the volume has diminished.

so, down move- 1 up bar- final down bar test, volume gone. the professionals would have been buying into the down move, then let it test the down side, and the selling had dried up. hard to explain without a screenshot, I will update my blog later today.

 

[Joules MM1]

it does give good clues, I really like it actually, trading that along side the ES, comparing the two.

what a session last night, really wish I wasn't asleep, some great long entries, good examples of effort...on the 9 minute, we had a down move, wide spreads, volume increases, then the spread starts narrowing...capping if you may, it gets no result from the down move, 1 up bar, then its jabbed back down and the volume has diminished.

so, down move- 1 up bar- final down bar test, volume gone. the professionals would have been buying into the down move, then let it test the down side, and the selling had dried up. hard to explain without a screenshot, I will update my blog later today.

I sometimes do a film blog via camtasia......maybe you could look at doing one of those, Sam.....for your blog.....they would be great benefit to newbies.....just an idea

 

[ThingyMajiggy]

I sometimes do a film blog via camtasia......maybe you could look at doing one of those, Sam.....for your blog.....they would be great benefit to newbies.....just an idea

yeah thats not a bad idea, thanks. you do it on your own blog? you got a link to the blog so I can check out what camtasia etc is like?

 

[Joules MM1]

yeah thats not a bad idea, thanks. you do it on your own blog? you got a link to the blog so I can check out what camtasia etc is like?

i'm old.....erm......old school so i meant diary and no i don't put them in public as they are intended to sharpen the good points and weed the poor points.....also the instrument itself (for the spx) is a mirror cfd rather than an exchange price (bar)

I think that your work, the style, would be best suited to moving visual explanation with audio rather than written and i only say that from the most recent post for this mornings set-up........

give it a go......another idea is to link a voice blog from someone like snapvine.com and for that you only need the headphone/mic set .....put that with a bunch of 1-3-5 min bar set-ups....could work really well

have a great weekend mate

 

[ThingyMajiggy]

Alrighty then, here is my first vid, no audio, just text commentary. Hopefully you can all see it, lemme know what you think

 

[Joules MM1]

Alrighty then, here is my first vid, no audio, just text commentary. Hopefully you can all see it, lemme know what you think

as first efforts go, that's a good one!

gotta get some sound.....you'll see.......do one with narration and then watch the original one.....

tops!

 

[Wysiwyg]

Pre-market looks bullish, bit of buying came back in end of last session, had a bit of testing during globex, wouldn't be suprised if we have an up day...at this stage, have to be careful though, keep an eye out for selling.

You want to master Tape Reading so you might find this brief passage worth contemplation.

---------- ""Here we find the characteristics that distinguish the Tape Reader from the Scalper. The latter is essentially one who tries to grab a point or two profit "without rhyme or reason" - he doesn't care how, so long as he gets it. A Scalper will trade on a news tip, a look, a guess, a hear-say, gossip - on what he thinks or what a friend of a friend of friend says.

The Tape Reader evolves himself into a ‘trading machine’ which takes note of a situation, weighs it, decides upon a course and gives an order. There is no acceleration of the pulse, no nervousness, no hopes or fears concerning his actions. The result produces neither elation nor depression: there is calmness before, during and after the trade.

The Scalper is a car without shocks, bouncing over every little bump in the road with rattling windows, a rickety motion and a strong tendency to swerve into oncoming traffic.

The Tape Reader, on the other hand, is like a fine train, which travels smoothly and steadily along the tracks of the tape, acquiring direction and speed from the market engine, and being influenced by nothing else whatever."" ----------

My Secrets of Day Trading in Stocks - Richard D. Wykoff

 

[ThingyMajiggy]

just went short on the TF @ 594.50.
stop is now B/E+ @ 594.40
target is around 590.70 if I stay in.

broke support+pivot s1.

not real fussed what happens, mainly concentrating on the PF.

 

[ThingyMajiggy]

Left the trade on, didn't get stopped out. Worked out well in the end exited @ 584.70 +$975.20

 

[ThingyMajiggy]

The TF, ES and SPI broke support last night, I took a short on the SPI, should have gone short on all 3, exited the short this morning.

Trade well