LC Long Term Ideas

Forums Trading Journals LC Long Term Ideas

Viewing 15 posts - 1 through 15 (of 257 total)
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  • #205739
    Lawrence
    Keymaster

    Just a place to collect my long term trading ideas

    #206048
    Lawrence
    Keymaster

    From my weekly comment on dollar yen back on Nov 26, 2011.
    https://www.daytradingbias.com/?p=27700

    Going bullish.

    #206049
    Lawrence
    Keymaster

    From my weekly comment on S&P500 Nov 26, 2011.
    https://www.daytradingbias.com/?p=27687

    Looking for a tradable swing bottom.

    #206040
    geosing
    Participant

    Obviously 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.

    #206041
    Lawrence
    Keymaster

    Once a trend is establish, we can always go for pullback area to go long.

    Bottom picking can be dangerous. =)

    #206042
    geosing
    Participant

    Lawrence 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. :-)

    #206031
    Lawrence
    Keymaster

    It can happen. So far PA is less than spectacular in strength.

    #206032
    Lawrence
    Keymaster

    This week looking for a pullback of 30 pts or more, measuring close to close, before another leg up on daily.

    #206033
    Lawrence
    Keymaster

    on ES

    #206034
    Lawrence
    Keymaster

    Got pullback. =P

    #206035
    geosing
    Participant

    Lawrence Chan
    Got pullback. =P

    Indeed. 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.

    #206036
    Lawrence
    Keymaster

    I 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.

    #206037
    Lawrence
    Keymaster

    A 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.

    #206038
    Lawrence
    Keymaster

    Why that low price level? Op ex this week. Midpoint down there.

    #206039
    Perry
    Member

    LC 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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