Friday, November 04, 2011

Dear traders,
Today my main focus will be on intraday action. I always have ideas, but since I think that news market can change everything there is no reason to sent charts if will be this or that. On long list I have: EXC, ADTN, CEG, CAG and on short side: IRM, FCX, INCY, IFSIA etc. I really like to see market action first and if I will see that risk is to high like last two day’s then I will focus only on 5/15 min moves and I don’t want to stay in any trade over weekend. Reason is not that I don’t like pattern, reason is that I don’t trust to market right now. Over weekend news from Greece will be good or bad, or better to say who know how market will accept that news. Patience and small risk are our best friends right now so stay with them until market will say different.
Wish you all good trading day
Kind regards
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Ivica Juracic


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If you brought the SPY at the close on December 31 of last year, you are back in the GREEN, WOOOOOO HOOOOOO!!!! Congratulations are in order for you.
The things got a big NEGATIVE divergence on the RSI, and the MACD is in danger of crossing to the down side, but, HEY, there's no stinking way this thing goes down again this year. 
I forgot to mention the stop on the "The Three Day Pull Back" system I mentioned the other day, that's because, THERE IS NO STOP!!! The parameters are that you sell when you close higher than any prior two days, meaning, if you were a "true" trader, YOU SOLD YESTERDAY!!
If we have a really good payroll report at 8:30am ET, I figure Da Boyz use it to move us higher, if we have a really BAD payroll report, I figure Da Boyz will move us even HIGHER!! IE, I don't think it stinking matter's. By the way, DTI has a fun day in their trading room for the report, you can sign up for it here, http://www.dti.omnovia.com/dtichat, it starts at 7:15am CT. 

In looking for some ideas I came across some out fit by the name of Ford, symbol "F", I think it makes those new fangled things called car's, or some thing like that. I was actually looking at RIMM, but I honestly don't understand what an outfit that has two CEO's is.
ANYWAY, it's kind of interesting, the, "indicators", are all NEGATIVE, but I might consider taking a shot at it on the long side, hahahahaha! The main thing is the stop, right now it's 32 cents, as you, OBVIOUSLY, don't want to hang around if it get's back under $11, as it's probably going back to $9 bucks, like lickety split.  Besides the stop, the thing I find interesting is it had the fall from grace, I think when they reported sales, then it had an INSIDE day, that was actually positive, then it had an OUTSIDE day, also positive, and left a long tailed doji, meaning the bulls actually won the day. Another thing is, is it's close to having the infamous "Matching Lows" formation, where it tests the same low three days in a row, the low on the first bar was 11.03, the middle bar was 11.04, and then yesterday it actually took the low out, making a low of 11.02, so if it was going to cough it up, I would, IMAGINE, they would have done it at that point, rather than going back up and closing at the open.
Hey, it's just an idea, nothing more.



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