for lack of a better word, is good.
SRS traded in the narrowest range of the past 11 days (76.92-88) ADX levels on the daily,120m,60m and 30m have been downtrending and are in the teens.Ă‚Â It is set for an explosive move.Ă‚Â If SRS breaks to the downside go long IYR/URE and if to the upside obviously go long SRS. With the fed meeting today it should be a wild ride. Trade small and be aware of a false breakout.
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(29 votes, average: 3.72 out of 5)
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alrighty who gave me a single point on the voting meter- speak up explain yourself
just gave you a 5 to make up for that one.
Sorry to be too harsh, but I gave you a 1 also. You are basically not saying anything. If it breaks down, go short, if it breaks up, go long. What the !!!
Most REITs are so heavily in debt the ultimate move will be higher for IYR, but can easily trend down here over next couple of weeks until REITs refinancing and debt come due.
Shortbus- anytime a stock/market has traded in the narrowest range of the past few days it indicates that the market is set up for a large move. Just need to let the market tip it’s hand as to the direction, Check out a chart for 12/10 when the S&P500 had the tightest range of the previous 7 days. Once the low of the narrow range inside bar was broken the S&P cratered nearly 50pts over the next two days
good call oldman, a large move was made indeed…keep it up…bought a little SRS at the close…around 61…keep the posts coming
5 stars old man, twice. One from the home cpu, and one from the office.
wow… good call, oldmantrader.
That was ridiculous. You should now come out and say that at under $62, SRS is a drop dead, slam dunk 30% gain. I am. We’re talking commercial real estate with every tenth customer impacted by Bernie “Icepick” Madoff. Long Island and NYC are doomed for a decade. I thought California had more suckers per square mile, but lo’ and behold, guess what?
Hello..I am new to this site and am just starting to learn to trade… I am looking for opinions on the best trading books… I have read Robert Dorfman’s Hedge Fund Trading Secrets Revealed, which was fantastic,..I learned so much…. Jim Cramers’s Confessions of a Street Addict..(written before he got super famous) and Richard Arms’ Stop and Make Money: How To Profit in the Stock Market Using Volume and Stop Orders. All 3 are riveting and very informative and gave me info on how all this stuff works… Anyone have other recommendations?
RC, boca: What is this? have we now resorted to giving good karma comments just for the fun of it and to encourage people.
This whole thread is just absurd.
Did any of the other diETFs trade down huge yesterday as well? Amazing call old man. NOT.
Hey ShortBus and Milt- The trade was spoon fed to you and very profitable – go short on a break of the low and go long on a break of the high.Not a great deal of thinking was required which made it an ideal setup for you two Einsteins. I suggest you both google Narrow range inside bars and learn how to about the trade setup. Perhaps you should check out this link http://thepatternsite.com/nr7.html and others. Constructive criticism is appreciated but not your dribble
i dont think you meant me
Five stars from me as always, Old Man.
What happened to your hilarious avatar?
Don’t tell me… “the gravy?”
_________
Thnks Jake- miss the old avatar myself – it is not too far off my appearance but soon I shall try Cenegenics which should help me
Shortbus, I meant exactly what I said and it had nothing to do with encouragement. The only sad part for me is that I was so busy working yesterday that I didn’t have time to read it until after 9 pm and obviously it was too late for me to take the trade, not that I do that much trading of the double inverse etf’s myself. I’m in a holding pattern rather than trading because I’m too busy at work.
question for Milt – have you read any books on technical analysis or charting? If yes, how deep have you gone? I can recommend a few titles but need to know where your knowledge stands and what your trading style is. Thanks.
Oldmantrader, I could use an IV injection of new life right about now, myself. Hah, no such luck.
yes I have..Hedge Fund Trading Secrets Revealed by Robert Dorfman…. and Richard Arms’ Stop and Make Money: How To Profit in the Stock Market Using Volume and Stop Orders of course I have also read Nison and Elder..as well as too many ebooks I care too mention… I learned more from Dorfman though..his strategies are perfecty for me…I will also implement Arms ideas also…any other?
Milt Tomkins is DORFMAN! Don’t you guys get it? Google Milt Tomkins and you’ll see. He’s full of sheet.
Jay..are you a retard? why would you say that? yes I promote dorfman’s, and Arm’s and sometimes even Cramers’ (only confessions……….though) books whenever I can because to me, they are the best trading books I have read in awhile…. I AM NOT Dorfmaqn if u r a dorfman hater thats your problem