Trading The SPI - NON-Gann Techniques

professor_frink · 27 July 2007

Edwood said:
I saw you were up late, crude had a great range o/night, I was in Dax & FTSE mostly

yeah HSI gaps are not for the fainthearted I got spanked badly by one of those when I got distracted & missed the close of morning session & got taken out after lunch. good luck if you do find a strategy!

sent you something I found on gap fades which looks quite handy

crude wasn't too bad last night, though it did spend quite a while range bound- it wasn't until about 20 mins before I was going to go to bed that it finally broke down, so it turned into a bit of a late one.

I think the only way to play big gaps like that is to do it on 1 contract max to try and minimise the slippage if you are wrong. But the good thing is most of the time there is normally quite a few opportunities outside of the opening period to pick up a few points.

Edwood · 27 July 2007

just popping in, todays session looks to be a bit of an anti-climax after the o/night session. Guess we can safely say that ASX is not currently leading other markets

Trembling Hand · 27 July 2007

Edwood said:
just popping in, todays session looks to be a bit of an anti-climax after the o/night session. Guess we can safely say that ASX is not currently leading other markets

We were the first to crack bigtime yesterday.

professor_frink · 27 July 2007

Edwood said:
just popping in, todays session looks to be a bit of an anti-climax after the o/night session. Guess we can safely say that ASX is not currently leading other markets

looks like it could go either way from here. I think the direction we will take from here will be determined by the way Europe opens. Cash market is currently sitting just below support @ 6125. Spi sitting right on trendline from o/n lows. If we break down from here could be in for a test of the Feb highs.

>Apocalypto< · 27 July 2007

trembling Hand said:
We were the first to crack bigtime yesterday.

I am sorry TH the US lead this one there is no doubt about it. This is more then 3 days old the writing was on the wall. Europe added to the spice last night.

What I love on the asf is after a couple of drops all the shorting threads pop up with the crash threads. lol. that userlay get me thinking long. he he he

I am going to make a call i think there will be a minor rally on the st tonight and we will buy up strong on monday if it happens.

Trembling Hand · 27 July 2007

Trade_It said:
I am sorry TH the US lead this one there is no doubt about it. This is more then 3 days old the writing was on the wall. Europe added to the spice last night.

What I love on the asf is after a couple of drops all the shorting threads pop up with the crash threads. lol. that userlay get me thinking long. he he he

I am going to make a call i think there will be a minor rally on the st tonight and we will buy up strong on monday if it happens.

I'm sorry Trade_It but the UK lead it. They broke down big time on Tuesday before the US had even opened. The US did not break any uptrend line or support until last night. Their fall on Tuesday was not a lower low but ours yesterday had broken a lower low.

>Apocalypto< · 27 July 2007

trembling Hand said:
I'm sorry Trade_It but the UK lead it. They broke down big time on Tuesday before the US had even opened. The US did not break any uptrend line or support until last night. Their fall on Tuesday was not a lower low but ours yesterday had broken a lower low.

Sorry TH the US lead it see chart

** note, to be exact the first lower high was on the 19th **the firsts break was last Friday night 20th.

UK followed on the back of the sub prime news spilling to hurt them as well.

euope has lost 6% now since the 13th we never did anything the us broke out and broke down we failed on three times and fell over in a mess. CPI or what ever it was yesterday just got us moving.

Trembling Hand · 27 July 2007

Trade_It said:
Sorry TH the US lead it see chart the firsts break was last Friday night 20th.

UK followed on the back of the sub prime news spilling to hurt them as well.

euope has lost 6% now since the 13th we never did anything the us broke out and broke down we failed on three times and fell over in a mess. CPI or what ever it was yesterday just got us moving.

So you are saying that the US broke on Friday, when I look at it I see a pull back that held at short term support then a bounce the next day up.

And you are saying that the UK followed what the bounce in the US Monday? When they were down?

>Apocalypto< · 27 July 2007

trembling Hand said:
So you are saying that the US broke on Friday, when I look at it I see a pull back that held at short term support then a bounce the next day up.

And you are saying that the UK followed what the bounce in the US Monday? When they were down?

LOL,

TH you only see what you let your self see like i said the writing was on the wall.

Trembling Hand · 27 July 2007

Trade_It said:
LOL,

TH you only see what you let your self see like i said the writing was on the wall.

So you were short?

>Apocalypto< · 27 July 2007

trembling Hand said:
So you were short?

lol,

I dont have the skill yet, But lots were. I am just learning to see but I can tell you, I had no open longs by monday afternoon.

professor_frink · 27 July 2007

We got the break to the downside on the SPI recently. Will be interesting to see how it reacts when Europe opens

Trembling Hand · 27 July 2007

professor_frink said:
We got the break to the downside on the SPI recently. Will be interesting to see how it reacts when Europe opens

No HK for you today Professor?

professor_frink · 27 July 2007

trembling Hand said:
No HK for you today Professor?

lunch time in HK They re open at 4:30. Didn't trade the morning session today. Was barely out of bed and wasn't awake enough for the open!

Trembling Hand · 27 July 2007

professor_frink said:
lunch time in HK They re open at 4:30. Didn't trade the morning session today. Was barely out of bed and wasn't awake enough for the open!

Was the same, the US night action is so addictive. Hard to walk away when its melting down like last night. I use to own some bakery's feels like I'm doing the same hours, all day & all night!!

Well that's it, it is well and truly BEER O'CLOCK in the TH house hold, what a week!. See ya guys next week.

professor_frink · 27 July 2007

trembling Hand said:
Was the same, the US night action is so addictive. Hard to walk away when its melting down like last night. I use to own some bakery's feels like I'm doing the same hours, all day & all night!!

Well that's it, it is well and truly BEER O'CLOCK in the TH house hold, what a week!. See ya guys next week.

Enjoy your weekend Trembling Hand

>Apocalypto< · 27 July 2007

Trade_It said:
I am going to make a call i think there will be a minor rally on the st tonight and we will buy up strong on monday if it happens.

Revising my call us futures are back in the mayor negative this is starting to look like a deep one.

wayneL · 27 July 2007

SYCOM just spiked below 6000 a few minutes ago.

>Apocalypto< · 27 July 2007

Trade_It said:
Revising my call us futures are back in the mayor negative this is starting to look like a deep one.

US STOCKS-Futures cut losses after GDP data
22:36, Friday, July 27, 2007

(Updates with release of GDP data)

NEW YORK, July 27 (Reuters) - U.S. stock index futures
briefly cut losses but remained in the red on Friday after a
government report showed a stronger-than-expected pace of
economic growth in the second quarter.

this may set up a choppy session and put a some brakes on another sell down.

>Apocalypto< · 28 July 2007

well another 200 gone on the dow this is looking like a deep one.

Hey Trembling Hand we anit going to follow the dow on Monday huh lol

At this point, we are following the lead but i agree with you at other times we don't, be objective and not one minded about any market behavior.

Good trading

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