Had one of my best trading runs the last 14 weeks or so up to June 1, 2012, consistent profits, bagging each of 2 accounts. A Bag is a 100% gain. Then went on a trip with some large put positions on, knowing that where I was going I had land line internet and a nice wireless setup too, but on a brand new MacBook that I was just getting familiar with, so I kept my positions open, salivating at my recent success and wanting more. Monday came and the market played exactly into my hands although all internet was unavailable and I spent time checking MY systems, assuming that it couldn't be the reliable paid for land line internet. Missed Monday completely.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Jesterx, one of the sharpest traders on the Slope, was kind enough to send me this video he put together. In light of the wild volatility we have been facing as intrepid traders in this treacherous market of late, I felt it was imperative that all Dopes should see it. It's a MUST watch!
Jail Bird……I hope you don't mind that I shared this with all Slope-a-Dopes as a header post. Thanks again, very well done, and a valuable lesson indeed!
Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of June 2012.
The Weekly charts below of YM, ES, NQ & TF show that they all closed higher than the prior week (the ES, NQ & TF formed a bullish engulfing candle, while the YM came within a few ticks of forming one as it opened slightly higher than the prior candle's close)…all four on slightly lower volumes than the prior week. They've popped up and closed above the downtrending channel at their middle Bollinger Band and above the current month's Volume Profile POC (yellow horizontal line). The YM closed at its 1-Year Volume Profile POC (red horizontal dotted line along the right edge of the charts), the ES closed slightly above, the NQ closed well above, and the TF closed just below.