Wednesday, April 13, 2011

4/13 pre-open

I bought another 1% NQ at 2301 but sold it at 2313.  Currently I'm long 8% SSO at average 53.12 and 1% NQ at 2301.  Wave (v) started yesterday, making Tuesday the high-probability I1 peak date, capping a 5 day rally.  Wave (iv) went the maximum that it could go under my trading system, coming down to within 7 DJI points of the critical M/A envelope.

The next hurdles are selling 2% SSO at the blue line below.   A 30-minute close .5% above the green line below will confirm this rally.
Posted by at

4 comments:

  1. AnonymousApril 13, 2011 at 6:10 AM

    Steve

    Might be wise to sell the longs at spx 1322 cash this morning. I think we have some more down side coming.

    Jack C

    ReplyDelete
  2. SteveKotelesApril 13, 2011 at 7:46 AM

    Jack, what good is my system unless I follow it? I'm looking forward to next Tuesday.

    ReplyDelete
  3. AnonymousApril 13, 2011 at 8:24 AM

    Steve

    True

    I'm just thinking we get a lower low 1300 before moving up to 1332 or so. That would be a beter spot to get out. Good luck

    Jack C

    ReplyDelete
  4. SteveKotelesApril 13, 2011 at 8:34 AM

    Any lower low gets me out. It looks like commodities have bottomed completing a 4th wave.

    ReplyDelete

Subscribe to: Post Comments (Atom)