Chart Update

Posted on June 10, 2011 by alphahorn

Here’s the chart I posted on Saturday, and the odds are playing out.  1261 target 1, 1250 if that pivot doesn’t hold.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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4 Responses to Chart Update

  1. layor says:
    June 10, 2011 at 12:59 pm

    Not to be a wise ass but you should have looked at your chart from last Saturday before posting your trade # 4 on June 9th. If your chart bwas good then why would you go long?? Referring to something after the fact is absolutely useless.

    Reply
    • alphahorn says:
      June 10, 2011 at 1:47 pm

      Yesterday I had to leave, as I mentioned in Trade update #4, and I was anticipating things continuing in the direction they had started. BUT, IF read the post you noted, and PAID ATTENTION TO WHAT I WROTE, then you would have seen that I gave specific instructions to pull up a chart and trade only on a certain trigger, that trigger was only met for the DOW and Energy., but the DOW quickly reversed and you should have too, only ENERGY closed in an appropriate position to maintain the trade.

      Reply
  2. Mac says:
    June 10, 2011 at 3:24 pm

    I don’t understand as to why you have been trying to catch a falling knife all week trying to get long and seeing a bottom,( to play the long side). All your models are short, you should follow them and we / you should be in inverse funds, SDS,BGZ,TZA, I don’t get it? You keep getting stopped out daily trying – thinking we have a bottom. Why not wait for a good bottom to get long, (when your models turn Long). We missed a good short this week.

    Reply
  3. alphahorn says:
    June 10, 2011 at 8:02 pm

    You’re absolutely right! The secret to successful trading over the long haul is having the discipline to trade your proven and backtested system. I post it so you guys can elect to stay on the secure path when I diverge

    Reply

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