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Well 50% / mid-point 1400.5 then CLVN 1401.75..you are htreading the needle...

 

If I were shorting this, and I shorted at 1400, right at the 50%, etc., the market would in 9/10 cases give me some heat, just for trying to pick the top. I have faith that others here doing the same will receive the same treatment as me and that I'll get my 1401.. :D If not, it just proves "they" are out to get me :rofl:

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If I were shorting this, and I shorted at 1400, right at the 50%, etc., the market would in 9/10 cases give me some heat, just for trying to pick the top. I have faith that others here doing the same will receive the same treatment as me and that I'll get my 1401.. :D If not, it just proves "they" are out to get me :rofl:

 

I hope you get it..but "they" are busting your chops...

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I had to "work" for it today.. I was down on the mat on one knee... really frustrating given the range we had... Fortunately it turned into a decent day but it "should" have been a great day... It doesn't take much to get behind...

 

There is no way I anticipated we would get to the NVPOC @ 92.00... today... Just getting to the CLVN @ 94.25 was a reach imho so I went long @ 96.00 & puked and then rebought... YOu only got to drop 2 pts per car a few times and then you are trying to crawl out... I hate when that happens and you got to keep your emotions in check and not try to "get even" with the market... just go with the flow...

 

When you step in front of the train like we did - it can be gut wrenching... it's really hard to tell if it will be a brief bounce or a bottom.. NVPOC was the key..if it went through I'd be moving out :helloooo:

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When you step in front of the train like we did - it can be gut wrenching...

 

For some reason this week I am being VERY impatient. I can't speak for you, but trying to buy was just plain foolish until the 92 traded and then came back up into 96s.... I just got lucky, would have gotten as good a price, without trying to bottom pick, and taken no heat.

 

Let me rephrase--buying 95/93 was a good buy, where and when I bought it -- BUT, hope caused me to hold and all the while I saw that it was struggling too hard to get up. It should not come back to 95 even once, much less 3 or 4 times... when it did, I should have gotten out at BE or a little better, and waited. Then when 92 traded and it came back up above 95, it was a much more safe buy. I could have made profit, and gotten the same price. Hope is a dangerous thing.

 

I am holding with stop at 94, targeting 1404.75. I don't feel particularly safe here, but will give it a shot.

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I am holding with stop at 94, targeting 1404.75. I don't feel particularly safe here, but will give it a shot.

 

Well, 3 ticks from my target of 9.75 points overnight, and it reversed down, and just now taken out at 94 on news. Sometimes that's how the cookie crumbles... frustrating as hell when you're asleep and can't do a thing about it (except I could have set a trailing stop), but nothing to do now but start with a clean slate today.

 

As an aside, 94 is exactly the place I would normally be looking to buy (though don't know if I'd do it premarket today), but I can't let a 9 point in the green trade turn into more than a point loss, so I had to cut it somewhere.

Edited by joshdance

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Well, 3 ticks from my target of 9.75 points overnight, and it reversed down, and just now taken out at 94 on news. Sometimes that's how the cookie crumbles... frustrating as hell when you're asleep and can't do a thing about it (except I could have set a trailing stop), but nothing to do now but start with a clean slate today.

 

As an aside, 94 is exactly the place I would normally be looking to buy (though don't know if I'd do it premarket today), but I can't let a 9 point in the green trade turn into more than a point loss, so I had to cut it somewhere.

 

Oh well. Was this a simulated trade or live btw?

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Oh well. Was this a simulated trade or live btw?

 

These are live -- though occasionally I will throw one on the sim if I feel the need to trade but know it shouldn't be real money.

 

EDIT: in fact, I'm trying out some different ways of managing trades including how I scale in or out, so I will probably be doing a lot of side-by-side sim stuff. Problem is, NT's "advanced simulation engine" can't seem to get things like commissions right. :doh:

Edited by joshdance

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Well, 3 ticks from my target of 9.75 points overnight, and it reversed down, and just now taken out at 94 on news. Sometimes that's how the cookie crumbles... frustrating as hell when you're asleep and can't do a thing about it (except I could have set a trailing stop), but nothing to do now but start with a clean slate today.

 

As an aside, 94 is exactly the place I would normally be looking to buy (though don't know if I'd do it premarket today), but I can't let a 9 point in the green trade turn into more than a point loss, so I had to cut it somewhere.

 

Thanks for your openness and honesty. Its a rare thing!!

Cory

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Well, 3 ticks from my target of 9.75 points overnight, and it reversed down, and just now taken out at 94 on news. Sometimes that's how the cookie crumbles... frustrating as hell when you're asleep and can't do a thing about it (except I could have set a trailing stop), but nothing to do now but start with a clean slate today.

 

As an aside, 94 is exactly the place I would normally be looking to buy (though don't know if I'd do it premarket today), but I can't let a 9 point in the green trade turn into more than a point loss, so I had to cut it somewhere.

 

Well I certianly can't second-guess your trade.. as you know I stepped in @ 96.00 initially and paid for the privelage off CLVN 94.25... it was terrible trade location and my risk was below that NVPOC.. Quite frankly I didn't "think" that NVPOC would get into play... :crap:

 

As far as buying it there @ NVPOC that was "the" place IMHO.. Like you, I was not comfortable that it wasn't rejected.. One thing I had high confidene in was that if we could hang in there that eventual short covering would get us at least into where the stops were and that to me was the high probability play... My thinking was that short covering would lift us into the close - which it did... After that, I did not know if true initiative buyers would come for it - no clue..

 

I think that trade we took was a good trade... Many good trade locations will scare the crap out of you.. especially a potential Responsive one like that.. but we did hit a key number... it made sense to me...

 

The targets on the other hand are something I always fight with.. I abandoned my shorts from up near the HOD yesterday and left a substantial profit on the table... How was I supposed to know the trade potential since it doesn't go in a straight line... I do not have an answer for that - yet..and you all know that is still an open issue for me :doh:

 

Josh: You did a whole bunch right on that trade. You held it longer than I did to the next number up from my exit... Hindsight being what it is...maybe next time you just take it off the table and not carry the risk overnight since your potential for a couple points was not worth the potential risk... but this is hindsight.. and you know that's easy... :2c:

Edited by roztom

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I think that trade we took was a good trade... Many good trade locations will scare the crap out of you.. especially a potential Responsive one like that.. but we did hit a key number... it made sense to me...

 

The targets on the other hand are something I always fight with.. I abandoned my shorts from up near the HOD yesterday and left a substantial profit on the table... How was I supposed to know the trade potential since it doesn't go in a straight line... I dod not have an anser for that - yet.. :doh:

 

The buying into the close looked strong, but not the kind of strong where I expect to wake up to 1420, or even 1408, so given that, I suppose a more conservative target would have been in order. In globex, though I don't trade it really, I often observe that it will continue, as it did, to shake out any shorts (or longs as the case may be).

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It would seem like a possibilty for the market to go responsive today Tom, but then nothing is certain. I think that given the way we are trading at the moment, there's also a good chance of us taking a breather today. So long as trading remains in the bracket on the chart below, that is a possibilty. Where we finish will probably be more telling.

 

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2012-03-29.thumb.jpg.0bfdad53ba5387c620037752553f8005.jpg

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The buying into the close looked strong, but not the kind of strong where I expect to wake up to 1420, or even 1408, so given that, I suppose a more conservative target would have been in order. In globex, though I don't trade it really, I often observe that it will continue, as it did, to shake out any shorts (or longs as the case may be).

 

I did not see it as strong buying..it looked responsive to me and we didn't get back to the IBL even for a test..so I saw it as short covering only... "after the fact."

 

The sell off was Initiative and there was no rotation as N noted..the only real rotation was the short covering... once again in hindsight... I considered your hold very risky but I also considered your target above me also risky... which off course doesn't matter... I like your 1400.00 target better than mine... :roll eyes: There is no way to "know." IMHO.

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I did not see it as strong buying..it looked responsive to me and we didn't get back to the IBL even for a test..so I saw it as short covering only... "after the fact."

 

The sell off was Initiative and there was no rotation as N noted..the only real rotation was the short covering... once again in hindsight... I considered your hold very risky but I also considered your target above me also risky... which off course doesn't matter... I like your 1400.00 target better than mine... :roll eyes: There is no way to "know." IMHO.

 

Are you guys seeing us as weak then?

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It looks like we'll get a test of that theory near open if we open up here. Very often the case recently that we open up right on top of a key test area.

 

Currently I see no reason for longs...the market is showing no rejection of the selling so far...

 

I have CHVN 87.75, CLVN 80.25 and the all popular 77.00 ish SUPP..

 

GOd help us all...

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Currently I see no reason for longs...the market is showing no rejection of the selling so far...

 

I have CHVN 87.75, CLVN 80.25 and the all popular 77.00 ish SUPP..

 

GOd help us all...

 

Hmm. My view is we are still in uptrend and most of the time what I am seeing is buying come in a logical level below the first level from market. Of course this is so long as there is no liquidation to contend with.

 

If we were to get going to the downside, there are those singles from 3/23 82.50-80.50 to watch for.

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Currently I see no reason for longs...the market is showing no rejection of the selling so far...

 

I have CHVN 87.75, CLVN 80.25 and the all popular 77.00 ish SUPP..

 

GOd help us all...

 

Similar to you here Tom -- buy zone is 86-88, next is 77

 

Sell area 95-97

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I've bought 92.00 for a return back up to 95-97, but will bail and look to short if much lower

 

out 1 at 94, 2nd target 96.50 and will try to add one more here..

 

as to why this long, well, it didn't really seem to want to go down fiercely immediately, and it's a lot of selling just before the open, so at least should try to shake out some of them if it's going to seriously move down

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out 1 at 94, 2nd target 96.50 and will try to add one more here..

 

as to why this long, well, it didn't really seem to want to go down fiercely immediately, and it's a lot of selling just before the open, so at least should try to shake out some of them if it's going to seriously move down

 

out of this at breakeven on the rest.. yikes, vicious

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