The Traders Network

For Friday October 10, 2008 – posted Thursday October 9, 2008 Because these comments are general in nature, I hope you will use them only as a starting point in deciding the direction of the markets discussed as well as support- resistance levels, targets and risk parameters. Be sure to call for specifics because these comments are not detailed enough to be trading recommendations. Remember that target prices are simply price levels that I expect a market to reach if it continues in the sa… Continue
Posted on October 10th, 2008 at 2:01pm —
© 2008 Created by Michael Yorba
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Yes, I was looking specifically at the big reversal bars for the previous Gold and Silver charts that you put on the show. These bars represent the current high. Your upper most bollinger band is currently below these highs. I was looking to short on the top bollinger band, and place a stop above the high day which is one day prior to the actual high which was a big reversal day down on both markets.
That's what I meant.
Thanks
Pete

This is a weekly chart of the september Dollar Index showing the sideways pattern that I mention in my blog almost every day. As you can see, it has been in this mode since March of this year. When the market clearly breaks out of this pattern i would expect a dynamic move to follow. DisclaimerThere is a risk of loss in trading futures and options. Past performance is not indicative of future results. Stops become market orders once the price is touched or violated; therefore, stops do not guarantee a fill at the price on the ticket. The information and data on this site was obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed on this site will be the full responsibility of the person authorizing such transaction.
How do you obtain a copy of your book mentioned today on the show?(Monday June 23)
Regards,
Ozzie Pete