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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Tuesday, November 16, 2010

color of the codes - extremely critical time

the color of the code likely to be decided by this friday OE, soonest tomorrow. i already have plans for both colors of code.
if we do not have continuation of weakness tomorrow, yesterday prescribed red likely canceled. then it's blue.

simple as:
break it, red.
bounce off, blue.
there is no green!
will trade accordingly. further review under way.

PS. 1). Nov 17 08:30am pre-market: took profit on tza($rut shorts), keep spxu($spx shorts).
2). Nov 17 08:54am pre-market: took profit on spxu($spx shorts).
i see and consider much more than i show.
i call & trade what i see to maximize my profits.
important is i get into the correct direction, not my emotion.
believe me, i like to see a code red. but if it's becoming less chance, i have to do what i see.
before yesterday's big plunge, i was in the right side of trades, that's the most important to me. just trading to maximize my profits, not a view change of the big picture.
Today's strategy: day trading, unless i see something extradinary. always keep profits maximum, limit the loss. i have a very lucky November, so far.
3). ThaiHawaii, welcome on board, good to see you(Finally!) and thanks for the compliments. i am largely with your code blue view. my view is some whipsaws in the holiday seasons. and i see potential one more low within this week, most probably early friday OE. but probably higher today & tomorrow with whipsaws. just my educated guess, will adjust accordingly. i hope people do their own dd, don't use my trades as a follower. i can do over 10 round trips day trades per day, also will keep doing swing trades if see advantages. right now i just use trades to express my views. my big picture view is intact, that's the P2 top already in. (i use P2 naming for common sense for its degree of plunging, not exactly my labeling name).
4). i found it quite interesting that no bears complain about pomo anymore after a few days of selling, and no bulls hope for a pomo rally as before. i never believe in pomo excuse, only t/a rules.
5). Nov 17 15:27. long at spx 1176.3 medium size, expect 1193.5 tomorrow, then down friday.