Friday, October 23, 2009

Here is a 60' spy chart

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Notice the MACD line. Its on a steady downturn. I think I'll be buying the 3x shorts (bgz, faz, tza, etc) on their dips.

Thursday, October 15, 2009

Gann Angles can indicate reversals

Here is a recent (just now) hourly Wilshire 5000 chart:

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Notice that low I circled in green. It was a huge dip! I profitted well by being in FAZ.
By reviewing Price, we can see a double bottom. This is also referred to as a W. Its a huge buy point (obviously). Also notice that I have added in some Gann Angles. The primary line is the major trendline. When the second line was breached, it indicates bullishness. Then there was a bit of fearful retracement. The next morning, the third line was breached and Price never looked back.

We have to start watching for this setup... it is not rare, it is fairly reliable. With this chart in mind, I can confidently place long trades.

For extra bonus points, see how the gann angles react to this 10' SPY chart:


Click for larger... yada yada.

Now, go try it on your own charts.

On another note:
I have accepted a part-time job. I find myself now conversing with lots of cool people in emails and on-line meetings. At the end of the day, I am talked out! That is the reason I have not blogged as much lately.

I do plan to keep recording my finds here (like the post above), but it probably not be as regular or frequent.

Tuesday, October 6, 2009

The SPY could fall

"This is one of the juciest shorts I've ever seen in my life." DSeven commenting on the monthly Spy chart.... Video here.

In other news... "The fiscal year-to-date deficit is at $1.378 trillion versus $500.5 billion a year ago."

Thursday, October 1, 2009

Downtrend confirmed

I could post some charts and discuss them here but it has already been done in this video. In fact, my mentor has done a much better job of it than I could. (The video is highly recommended.)

If, after watching, you have questions, you are welcome to ask here, in the chat room, or in the FTV forums at FreeTradingVideos.com

I enjoyed making 11.74% on my FAZ investment today. I hope you also benefited.



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As you can tell from the SPY daily chart above, it is too early to totally commit to short positions, but after tomorrow, the support line I drew in should be broken. From there, large shorts will be less risky.