Week of 1-9-11

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Week of 1-9-11

Unread postby Richard Carlisle » Mon Jan 10, 2011 8:57 pm

The Stock Markets and their Indices are very quiet. We are keeping ES short positions established last week with tight stops and waiting for the Markets to reveal their true direction.
2sp_1-10.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Re: Week of 1-9-11

Unread postby Richard Carlisle » Tue Jan 11, 2011 11:57 pm

We took enough profits from our stop in ES to cover the commissions in overnight trading but we did not initiate new long positions. The short-term technical indicators show the broad indices still overbought and in terms of price are still at their Ro7 up side projection lines.

We have played the waiting game before and it looks like we will have to wait again for a meaningful move that we can trade.
1sp_1-11.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Richard Carlisle
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Re: Week of 1-9-11

Unread postby Richard Carlisle » Wed Jan 12, 2011 5:49 pm

We went with this morning's ES up trend already in progress when the market opened. The next best target for taking profits on long ES positions is the 1290 to 1292 levels.
1sp_1-12.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
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Richard Carlisle
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Posts: 1047
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Location: Springfield, Mo. 65807 - USA

Re: Week of 1-9-11

Unread postby Richard Carlisle » Fri Jan 14, 2011 5:59 pm

Ho Hum, We are still waiting. The 1292 targets still look good but we are looking for the first sign of weakness to get short again. Meanwhile, our short Silver position is working out just fine. 3>"
1sp_1-14.GIF
INX and ES 30 minutes
Charts created with www.Aspenres.com
Richard Carlisle
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Richard Carlisle
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Posts: 1047
Joined: Wed Dec 09, 2009 7:21 am
Location: Springfield, Mo. 65807 - USA

Re: Week of 1-9-11

Unread postby Richard Carlisle » Fri Jan 14, 2011 8:06 pm

Well, we're here! I'de be taking some profits now! 8>"
2sp_1-14.GIF
INX and ES 30 minute bars
Charts created with http://www.Aspenres.com
Richard Carlisle
User avatar
Richard Carlisle
Site Admin
Site Admin
 
Posts: 1047
Joined: Wed Dec 09, 2009 7:21 am
Location: Springfield, Mo. 65807 - USA


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