Tuesday, November 27, 2012

Keeping it simple

This is the way we did things a couple of years ago, it was a much simpler time, we weren't hitting opportunities that could be intraday or even day trading, but the outlines were perfect for understanding the situation in front of us.

Since I had to reboot a program I went back to the old school charts, simple, clean, effective.

Here's what we are going to end up with near the close, I'm actually considering lightening up on some of the leveraged long even though most were bought at pretty good prices, what started as a decent pullback last week is getting uglier.

 DIA 5 min-LEADING negative

 DIA 10 min LEADING negative

 DIA 15 min, leading negative.

 IWM 1 min leading negative

 IWM 5 min leading negative

 IWM 10 min, leading negative-badly

 IWM 15 min leading negative

 QQQ 5 min leading negative

 QQQ 10 min Leading negative

 QQQ 15 min relative negative

 SPY 5 min leading negative

 SPY 10 min leading negative

SPY 15 min leading negative

These 15 min charts weren't part of the deal late last week-Friday, this has me a bit concerned for leveraged long positions.

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