Good Morning Everyone. I thought I would share my Fibo limits intraday of the SPX for 6/3/2010. I watch other Fibo indicators thru out the day…but this is my basic levels, if the Market level leaves those levels intraday it’s a sign of panic or greed. This is what I call Daily Fibo ala Nymph System.
1117.55 685%
1110.32
1105.79 261%
1103.01 161%
1101.29 100%
1100.60 78.8%
1100.23 61.8%
1099.90 50%
1099.57 38.2%
1099.20 23.6%
1098.51 0%
1097.82
1097.45
1097.12
1096.79
1096.42
1095.73 100%
1094.01 161%
1091.23 261%
1086.70
1079.47
Tradingnympho,
Congatulations on your appointment as Peanut Princess. I can see that you put alot of effort into your posts. I read all posts on IBC but I must say when reading some of yours, my eyes glaze over. Seriously, wtf do you do with all this information you gather each day/week? How do you apply it to trading? What instruments do you trade. Time frame? Maybe I keep things too simple trading stocks and options based on price, support /resistance levels. If its moving I’ll trade it. It might be 1 hr. 1 day , week or month. Watching fibro retracements between 1 %2 point moves seems pretty anal to me. I do not mean this a a criticism. Everyone is different. I understand the importance of being aware of whats taking place in the world but daily analysis of global market minutiae would fry my brain. I just wonder what you do with all of it and how it benefits your trading.
I am able to impress Jim Rogers….who btw gave me a lifetime invitation to see him speak.
Also, As I said in my past post when Asked…In the past I day traded x3 etfs. But now I am trying to train myself to take a longer view and learn to ride a longterm time frame….right now I am Long SMN, FXP, DRR,VXX for a hedge AUY (all house money at this point), GIVN for future FDA longterm story since seeing CEO at JPMorgan Healthcare Conf in January.
Also, I am learning the market, remember this is only my 3 year Anniv, I still have a lot more to learn.
Also, I follow all the companies on a Micro…..For me this is beyond total fun…..If you ask a Painter why they can paint 24/7 and spend days fixated on a inch of canvas….you will understand my focus….this is my passion.
Nymph: Nice work so far. Aces. Congrats, Princess. I appreciate your passion.
One thing though–
It seems like you have an armageddon trade going on right now (which may not be a bad thing).
Short Euro, BM, China and VXX and gold, with only one long to counter all that and it’s a biotech stock.
Going with Dr. Fly’s strategy of a balanced attack, might I suggest a high beta stock to go with that just in case the market takes off?
Zombie….I had some, but closed them out…even though this could cause me some pain, I want to go thru the pain to learn why the market would rally….actually my Gold has been acting as hedge too. And my biotech stock is a pending Pill camera for Colonoscopy…they are already using it in Europe this year…I think even in a Armageddon people will pay up not to have something shoved up….you get it. For myself, I have been watching this huge bubble build…and I have to learn how it acts when it pops. An old Copper Trader said the supply/demand is so off balanced that Copper would have to come down to about 1.00 to have some sense of balance…..money comes and goes, but this is a once in a lifetime education for me.
Understood, Nymph. PillCam, eh? Sounds interesting and could have a huge payoff.
Continued success, Your Highness.
Actually Zombie, One of the reasons why I joined PPT was to understand those short term plays better, beyond the t/a/trend following that everyone uses….but still trying to get my head around it. For GIVN, Yes, but if Devil Dog is right the pill cam could be fighting the trend down….still I had to have something……………Oh Oh on the magic of the Fib….did you notice….low of the day was about the 261% level on the down side…..High of the Day was the 261% to the high side…..and we ended so close to the 161% level…..yes it’s a bit “ish”, but close enough to make it M…A…G…I…C…. lol.
Indeed.
Impressive.
Nymph Magic.
Thanks nymph– I’m looking forward to learning more about the world of fibonacci. Since you started posting I’ve been paying a lot more attention to China, ore, etc. Very helpful.
Thank you Lindsay and Zombie…
Fibonacci never looked so god damn sexy…nice work, 4 Stars
GetGroup…Just trying to make science fun.