LC Long Term Ideas
- This topic has 256 replies, 6 voices, and was last updated 10 years, 9 months ago by Lawrence.
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- December 4, 2011 at 1:48 pm #205739LawrenceKeymaster
Just a place to collect my long term trading ideas
December 4, 2011 at 1:51 pm #206048LawrenceKeymasterFrom my weekly comment on dollar yen back on Nov 26, 2011.
https://www.daytradingbias.com/?p=27700Going bullish.
December 4, 2011 at 1:53 pm #206049LawrenceKeymasterFrom my weekly comment on S&P500 Nov 26, 2011.
https://www.daytradingbias.com/?p=27687Looking for a tradable swing bottom.
December 5, 2011 at 1:21 pm #206040geosingParticipantObviously the swing bottom you spoke of in the weekly comment was made. I am guessing, however, it is not a tradable bottom because of the ensuing gaps which basically locked out longs with reasonable risk. So, should the expectation be a quick flush down to some level and immediate recovery to signal another bottom?
By the way, thank you for this discussion thread.
December 6, 2011 at 8:52 am #206041LawrenceKeymasterOnce a trend is establish, we can always go for pullback area to go long.
Bottom picking can be dangerous. =)
December 6, 2011 at 7:08 pm #206042geosingParticipantLawrence Chan
Once a trend is establish, we can always go for pullback area to go long.Bottom picking can be dangerous. =)
Isn’t the trend resumption of the one that started in October and is established now (nearly 11% move)? November had the pullback from which it just exploded upwards. Looking at the SPY chart, the way it is hanging around the 2010 Close, 200ma and just below the trend line connecting the highs of July and October, it looks like the plan is to gap over this line clearing multiple resistance areas. Probably in overnight hours.
December 6, 2011 at 11:45 pm #206031LawrenceKeymasterIt can happen. So far PA is less than spectacular in strength.
December 6, 2011 at 11:46 pm #206032LawrenceKeymasterThis week looking for a pullback of 30 pts or more, measuring close to close, before another leg up on daily.
December 6, 2011 at 11:54 pm #206033LawrenceKeymasteron ES
December 10, 2011 at 5:40 pm #206034LawrenceKeymasterGot pullback. =P
December 11, 2011 at 3:26 pm #206035geosingParticipantLawrence Chan
Got pullback. =PIndeed. Do you now have swing long position? I recall that you were looking for even lower prices (lower gap level) before you can initiate a swing long. There are two scenes of crime below still.
December 11, 2011 at 4:21 pm #206036LawrenceKeymasterI wrap up my trading for the year mostly. Bullish – yes. Open position – no.
I do not carry any open position thru year end for many years already. It is a long story
related to my accountant many years ago did not know how to file tax return for me. Being a pro trader in Canada since many years ago was odd enough a career I guess.December 11, 2011 at 4:22 pm #206037LawrenceKeymasterA year end melt up on the indices in the making –
key is that this week ES does not trade below 1200. Preferred that it does not drop below 1210 on March contract.December 12, 2011 at 8:06 am #206038LawrenceKeymasterWhy that low price level? Op ex this week. Midpoint down there.
December 13, 2011 at 1:29 pm #206039PerryMemberLC you spoke yesterday of a Reuters rpt on Canadian banks having authority to use client deposits in their investment shennanigans. I haven’t been able to find a thing. Do you have a reference?
I know that once you deposit your money it’s theirs – you only own a claim on the money, but I thought their investment activities were pretty limited by regulation.
I must find out more on this as they have a bit of mine and I’m not comfortable if they can put it at risk as they see fit – Carney today is spouting off about Canadians investing aggressively at this stage because of our excellent financial position (relatively) – the banks are likely to see this as a go ahead.
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