Re: This market is smelling bad... Chippy you still with us?

On Jun 9, 1:01 am, -=DirtBag© <D...@xxxxxxxxx> wrote:
Awaken21 wrote:
On Jun 8, 8:27 pm, -=DirtBag© <D...@xxxxxxxxx> wrote:
d. wrote:
=?ISO-8859-1?Q?-=3DDirtBag=A9?= <D...@xxxxxxxxx> wrote:
Call me a old lady or whatever.. But I have been getting a tiny whiff
that smells bad.
Chippy's proprietary software was giving off some reading that worried
him enough to put his reputation out there and so did another tech type
trader I forget their handle..
snip
This guy maybe:
dj30 <thegreedytra...@xxxxxxxxx> wrote:
The S&P 500 index has an Uptrend Exhaustion alert. The next resistance
level is near 1044. The support is near 470.
http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?p=211
I guess he meant 740 support if you look at his chart.  Maybe he is
dyslexic.  Does that make him a guru?
Fu*k if I know d.  I just felt that what he said make sense to me.. He
had nothing to sell and felt confident.. I will look where ever for
information and keep an open mind to other's ideas and work.  I thought
Chippy was a good dude. Too bad some unnamed poster felt the need to get
  Chippy to defend rather than teach..  Not what I consider adult
behavior.. Very disruptive and childish of Mr Reid who seldom discusses
stocks. Obviously he is mainly here to show off.

What are you trading d.?

I am holding:

AAPL,
BAC
BX
CSCO
EJ
FIG
GS

I have one finger on the sell button too.. so little conviction and lots
of fear..

-Dirt

I don't see it yet. Japan (EWJ) is a little soft, trending towards my
stop for profit, but that's about it. Hong Kong (EWH) is as far away
from my stop  as it's ever been.  Asia's been outperforming on this
run up so that may be the difference.

ScottTrade sent me a notification that they were going to close my
short position in Homebuilders (XHB), but at the last minute they
decided they had enough inventory so the position stayed open. A
position which so far I'm down 6% on as the trend continues sideways.
Which is another reason I don't see it. When the market starts
turning, the shorts start working right.

Doesn't matter anyway, my stops are in place and for profit. The run
up has been an unexpectedly pleasant surprise.  I'm ready to reverse
my positions whenever the market says so...which it hasn't yet.

How are you setting your stops?  Which ones on Scottrade?

Over at Scottrade I use normal stops set to expire at the end of the
trading day. I put them on again in the morning after trading starts.

Over at OptionsXpress I use conditional stops which require that an
actual sale be made at my stop price before my own trade is sent to
the market maker. Those I leave on over the course of days until I'm
ready to adjust the stop price again. I love the OptionsXpress trading
platform, if I had a choice all of my trading stake would be in an
OptionsXpress account.

I was using 1
percent and got creamed.. not a tool I use that well.. any suggestions
appreciated.  I think I loose back a lot profits.. doing lame stuff like
not setting a stop. I get stopped out a few times, and that gets old..
Like here.. Take my money. <grin>

I use moving averages to decide my stop prices. Working with
percentages and trailing stops never worked in a way that I liked. 1%
is so very close, I never even tried that small. At 5% I was like -
forget it, too much getting thrown out at the wrong moment. If I
remember correctly I liked somewhere 18%-25% better than most numbers.
But ultimately I've taken a different path.
.