Sunday, July 12, 2009

Africa

An unbelievable performance, brilliant.

Turn up your sound and once past the thunderstorm, be amazed.

A

16 comments:

Scott and Fran said...

thanks for sharing.

Anonymous said...

Looks like your call on shorting below 878 or whatever it was is wrong wrong wrong. You can't beat the US gov't's agenda.

Anonymous said...

I shorted at the close on Friday because it was below the trigger, now I am hosed ...

I hate this stupid market

Anonymous said...

Look at the daily stoch, this market is oversold (short term), but look at the weekly (different story). Better entries just down the yellow brick road! More for the buck they say! I'll be in!

Anonymous said...

you mean longer term, it is going down even short term we are bouncing a little bit ...

Anonymous said...

Mr. Alan, Reading the free stuff from EWI over the weekend I saw where Jeffery Kennedy, an analyst at EWI was calling the March low a completion of a 5 wave down in a primary wave 1 and that we have now entered into a primary wave 2 formation. What is your take on that, if any? TIA

Anonymous said...

Anonymous, I don't know what you mean by longer term? For me: short term = 1 to 2 weeks at best
long term = 8 to 10 weeks at most, after that I'll be looking for a sweet spot to reverse my positions.

Anonymous said...

Anon:

are you long or short ???

Anonymous said...

do yourself a favor and pick up some XLF sept. puts.

Anonymous said...

Imagine how much Allan must've lost. He wanted to be very short well before all the stars lined up. Wonder if he got caught with his hand in the cookie jar.

Anonymous said...

Anonymous, I'm a short timer sitting in neutral waiting for the ESU09 e-mini to complete a 40.5 point reaction from the July 8 intra day low @ 865.25 then I'll make my move into 5 seperate short ETF'S along with 4 sell contracts. Reasoning: look at a ESU09 3 month chart with a (perfect storm) down channel formation with a intra-day low on 6/1 @ 912.25 and a i-d high on 6/11 @ 952.75 = 40.5, then a i-d low on 6/22 @ 887.75 and a i-d high on 7/1 @ 928.25 = 40.5, then the i-d low on 7/8 @ 865.25 + 40.5 = 905.75 I'm looking forward to riding it dwn for a good 6 to 8 weeks or more!

Allan said...

Imagine how much Allan must've lost.

This is what I mean when I lament that some of you don't get it. Today was a trending UP day, my models got me short-term LONG about an hour after the Open and I just closed everything out for about a 4% gain on the day. Please understand that I day-trade my models, each day is dependent on price action at the moment, not in the past, not in the future, in the moment.

One more time: I DON'T TRADE MY FORECASTS, I TRADE MY RULE-BASED TREND FOLLOWING MODELS.

A

Anonymous said...

Allan:

didn't we flip to short at the close on Friday based on the weekly, hence I put on my shorts
at Friday's close ...

what should I do wiht my shorts ???

Mike said...

A great day for 60 min BW trend following...especially for ETFs.

Thanks Allan.

btw...nice thunderstorm.

-Mike

Allan said...

didn't we flip to short at the close on Friday based on the weekly, hence I put on my shorts
at Friday's close ...
what should I do wiht my shorts ???


First and foremost, I DO NOT GIVE INDIVIDUALIZED TRADING ADVICE ON THIS BLOG (by my choice and by law.)

Second, if I were basing trading decisions on WEEKLY CHARTS, then I would do whatever the weekly chart suggested I should do. Same goes for Daily chart, 60-minute charts (see Mike's comment) or 1 minute chart.

Third, if I were trading a longer time frame, like weekly charts, I would understand that there will be drawdowns and have a contingency plan for dealing with them, i.e. stops - but then I need a plan to get back in if my stop is hit.

Anonymous said...

Since you don't want to take credit for bad calls, then why don't you stop harping about how great the charts look with respect to flipping short. Thanks to your spineless rantings, people lost their shirts today. Yeah yeah, I know. Its not your fault they listened to your call about the short flipping signals.