cowpip

Very nice, Wasp. I've taken two whip-saw losses because my trend-lines were too tight. I've noticed you seem to give price just a wee bit of breathing room on your TL's, lately. If you adjust them real-time, you would have noticed price opening on the other side of them at least once during the last 24 hours. But you held, whereas I stopped and reversed. Hmmm... It's paying off nicely for you. You should be over your 4-digit pip profit level by now, huh? Congrats!

LOL... yeah - but an energizer bunny if ever I saw one. Feed it cherry coke and hamburgers and it lives forever!

Thanks. It's been a wicked day with that Buffet-induced spike mid-day. Stupid brilliant billionaire (I respect his brain, but otherwise think he's an idiot) can't keep his hands off of other companies. Now he's bought a good sum of GE shares - which, combined with the other GE holdings, oddly enough adds up very closely to the amount that GE would need to roll over their debt. I think GE is in trouble like the rest of them and couldn't get enough cash to roll over their debt without selling shares. Anyway, his little stunt today just about threw this trade out the window. I hate those news-induced spikes with a passion.

I'm short GJ from 188.65.

Anyone have a NoDoz ? See what happens when you let politicians into the fray? We lose the pulse entirely!

Decided to close for -7. I'm not seeing a good signal anymore. In fact, I can't see a signal at all now. Decided to take the risk off the table until I can see something more solid. Wasp, what are you seeing?

Short GJ @ 189.14... one more try? Can't seem to get a decent price. It rockets down just a few seconds before my candle closes. Sigh...

Never mind this question, Wasp. I figured it out from your chart.

Here's how I saw the last trade, Wasp. Did you see it that way as well? And if not, why?

You said you SAR'd on the next candle lower? You waited for the next candle to completely form before you SAR'd? Yeah, and when you don't pay enough attention (as I did this morning), you end up taking crappy entries. Ah well. I'm still up +170 for the day, despite this last loss.

Man, that was quick. Out for -80 (had to increase my stop size to account for the slippage). I'm flat for now. I have no clue if this is safe to SAR.

Short GJ @ 189.50 Was slipped 15 pips. Didn't realize news was out at the open of that hour. Duh!

I saw it, Wasp. The only thing that held me back was the fact that they were holding the vote on the Bill within the little bit after the candle closed that gave me (and you) the signal. I decided to hold and see what the vote would be. If they would have voted the Bill in, I would have ended up with 400 pips (as that is where my stop had been moved). But when I saw that the vote was failing, I had a feeling the negative sentiment would push GJ lower. And when it did, I held it until I received another signal. Had they not had the vote, I definitely would have reversed. The signal was pretty clear.

Closed during my night for +254. Was too tired to post. Flat for now.

Closed short on GJ for +728. Long GJ @ 187.40

Sorry bout that, Wasp. The failure of Congress to pass the bill has maintained a negative bias, it appears.

This has been one heck of a good run. I agree whole-heartedly with you Wasp. I'm of the opinion if 190.20 breaks, the direction will have reversed. It looks like it's trying to form a base now. But there's still no signal for me to long it. I too have moved my stop lower. Don't want to give up any of these juicy profits.

Moo, guys. I was able to enter at 194.70, seeing the picture just slightly differently than you, Wasp. Nice entry, BTW. Moved my stop just above 192 as well, locking in about +233 pips. This thing hasn't bounced yet, and I suspect it's getting ready now. It's a nice way to start the week off.

We can only hope! I'm ready and raring to go.

Well - for me, it's been a waste of a week. Should have gone on holidays this week instead. Sigh... Ranges were so narrow that even milking the cow would have yielded fairly miniscule profits. Oh well... there's always next week. Have a good one, everyone!

I should have listened to my gut. Out for -60. And done for now.

Ok, I found it on the net now. He had 3.23 million shares and was required (along with his wife) to divest all of the shares prior to taking office. BUT, he was allowed to reinvest the proceeds into government approved mutual funds or treasuries to avoid a tax hit. Given the market turmoil, if he would have invested there, is it possible he may still be feeling a pinch? PS: I don't know if he reinvested in mutuals or other government-allowed entities.

That's what I figured he should have had to do. Thanks for that. However, does he have any stock or options left in the company (or did he build any up after having left)? I would assume conflict of interest rules would forbid that, but do the rules permit the ownership of a minimum number of shares? Hopefully he had to divest them all.

Changed my mind. Regardless of what may happen, the signal is there for me, so I'm taking it. Long GJ @ 195.71.

Decided to close at b/e after hearing that there is some sort of wonky activity associated with this Bill they're trying to pass. I don't know where price may go, or whether it will follow another erratic path. It may be best to lay low right now. I'll reassess after I know more.