XMJ and XEJ

[YOUNG_TRADER]

The Materials index has finally surged above its May 2006 level of 12,000

Likewise recently the Energy index has surged above its May 2006 level of 13,100


If they continue up over the next few weeks I'd be concerned as it will set us up nicely for a late May correction

 

[ta2693]

yes, very scaring.
I am reducing my position,but still got a lot on hand. I hope by the end of next week, I can adjust my position to a comfortable level to face the correction. If the XMJ fall to 10500, I think it is a suitable level to increase position.

 

[Snagglepuss]

The Materials index has finally surged above its May 2006 level of 12,000

"Finally"? According to my data, the XMJ broke to a new high on 11th April 2007, although it closed lower on that day. Then on the 18th April it closed at a new all-time high. Then the 4th May was another new all-time high.

 

[treefrog]

reviewed sectors for best chance of bull run selected the XEJ and jumped aboard today when the green arrow appeared.
nice bottoming formation along with rising momentum and nice LR concurrence. No obvious target so have set limit at 15000

 

[treefrog]

reviewed sectors for best chance of bull run selected the XEJ and jumped aboard today when the green arrow appeared.
nice bottoming formation along with rising momentum and nice LR concurrence. No obvious target so have set limit at 15000

update: +450% (from 1%margin)

 

[tech/a]

Nice one Froggy

 

[chops_a_must]

reviewed sectors for best chance of bull run selected the XEJ and jumped aboard today when the green arrow appeared.
nice bottoming formation along with rising momentum and nice LR concurrence. No obvious target so have set limit at 15000

Looks like a nice "box" trade there froggy.

Target should be the range between the highs and lows in the range, on the top of the box at the breakout point.

Low points are about 11,000, with the the highs about 12800 by the looks. So the target should roughly be 14600.

Hope that helps.

 

[treefrog]

Looks like a nice "box" trade there froggy.

Target should be the range between the highs and lows in the range, on the top of the box at the breakout point.

Low points are about 11,000, with the the highs about 12800 by the looks. So the target should roughly be 14600.

Hope that helps.

yes, ta.
50% of the main run down also around there (14500) so good as any.
keeping an eye on equiv. UK and US sectors while running; they indicate .....1hr candles pretty laid back trading.

 

[treefrog]

exit on breech of current momentum trend:
13004 - 14024