I just play with Elliot waves, and want to show people what I'm looking at. I honestly think it's .... Sketchy.... Which is why I refer to my TA as Chart-astrology
The way I trade is more to watch the moves, and try and catch as much of the 3rd wave as I can... and that way I don't' actually have to know where the overall market is going. I am just betting the reversals.
Within that construct I can make long term bets.
In the Bull Market the Mantra is to Buy the Dips, and in the Bear.... Sell the strength. In the early parts it should be safer to hold overnight(and long term) on the short side.
Another note: Say I was a big market mover..... What I would do is buy up the futures, hope to make a short covering rally... or even just some strength, which would give me a chance to get out of my positions higher than the current value.
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2 comments:
Hey Eric,
Thanks for your comments on my blog. I turned off moderation so they get posted immediately.
I've only been posting intermittently, as my trading takes up most of my time. But when I have something I want to clarify, I will put it up there.
Out of curiosity, what kind of trading do you do?
- Pete
Sorry... my regular blog is
and you don't realize I'm Eric Davis.
buyingthetop.blogspot.com
that is my crazy stock blog...
I try to swing trade... But day trading is what seems to be working.... but I just like to be mellow and play swings in stocks... then I can do other work... but unfortunately that is not working as well these days.
I just hate day-trading..
other note, if your worried about comments, there is a way that you can have any comments to your blog emailed to you. it's in the settings.
Great comments on Big Picture BTW.
more specificly I use EWT..
but discussing technicals, would be fun.. as you get a chance.
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