Tag Archives: SPY

Don’t Chase – There Is Always Another Trade

It’s almost without exception: whenever I entered a trade emotionally without planning, I’d get punished.  Today I kept pondering the prospects of a double top on SPY on the daily chart.  I was away from the streamer for a while … Continue reading

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Fib Extensions Based on Yesterday’s Range

So the market had a big green gap this morning, the Fib Extension tool can be used to gauge possible extension points.  Check this out: Look at how at each (23.60, 38.20, 50.00, and 61.80) level the price either peaked … Continue reading

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Day Trades – SPY

Short 300# at the gap open at the 61.8 Fib on the 60 minute chart Quick exit for a scalp Re-enter short 300# at better price Exit at Open Range support L1 Short 300E at the 20 MA Partial profit … Continue reading

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The Price of Being Prudent – Stopped Out at HOD

Trying to be disciplined and honor the stop ordered.  Ended up getting punished by exiting at the high of the day.

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Bears Cry Uncle

And I’m one of them.  With the market been going up basically non-stop since last December, this morning we finally had a sizable red gap (.60%) and really looked like the start of a decent correction; but guess what, it … Continue reading

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What I Don’t Like About Al Brooks’ Techniques

I didn’t take Al Brooks seminars so obviously I am missing some trade secrets to his system.  But based on the basic principles as documented here, I find it doesn’t jive well with my DNA.  I am a bottom fisher … Continue reading

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52 Week High Happened to be the SPY Inverse Head & Shoulder Target

The SPY broke the multi-month wedge to the upside, and could be playing out an inverse head & shoulder pattern.  If that’s indeed the case, the target would be 137 (see 2nd blue square), coinciding with the May 2010 high … Continue reading

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