Jump to content



Photo

Pain Inc. Short ES


  • Please log in to reply
45 replies to this topic

#31 zoropb

zoropb

    Member

  • Traders-Talk User
  • 8,392 posts

Posted 07 May 2009 - 09:37 AM

Z, I dont know if I necessarily agree with you about the idea that we cannot just reverse and plunge. There have been quite a few examples of bear market rallies ending in an extremely sharp reversals. Most tops are generally prolonged affairs due to the dip buys and short covering, bear market rally tops have the potential of a mega drop because they are built on sand.

This morning bounce is going to be important to watch, every day someone stepped in and tomorrow's continuation.

Obviously this is just theoretical mumbo jumbo, you are in and you are out and that is your style. I am mostly an IT kinda guy, but if we do not fail by tomorrow I am hedging.


That would be one of those maybe it is different this time kind of things. You know what usually happens to those statements rk. Take the odds there will be a wonderful short besides this one down the road.

IT :lol: next 3er pop it

Z

Edited by zoropb, 07 May 2009 - 09:38 AM.

Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.


#32 MoneyFriend

MoneyFriend

    Member

  • Traders-Talk User
  • 917 posts

Posted 07 May 2009 - 09:52 AM

80% rule in effect that we go to close yesterday's value low at 905.

Edited by MoneyFriend, 07 May 2009 - 09:53 AM.


#33 imhotep

imhotep

    Member

  • Traders-Talk User
  • 85 posts

Posted 07 May 2009 - 10:05 AM

80% rule in effect that we go to close yesterday's value low at 905.


If you want to watch a number, I suggest you watch 908 to see if
there is gonna be an overlap.

#34 MoneyFriend

MoneyFriend

    Member

  • Traders-Talk User
  • 917 posts

Posted 07 May 2009 - 10:08 AM

If you want to watch a number, I suggest you watch 908 to see if
there is gonna be an overlap.


Posted Image

#35 rkd80

rkd80

    Member

  • Traders-Talk User
  • 2,385 posts

Posted 07 May 2009 - 10:19 AM

What is hte 80% rule? Overlap is important as it will be another confirmation that this is nothing more than a bear market rally, not like anyone really doubted that.
“be right and sit tight”

#36 MoneyFriend

MoneyFriend

    Member

  • Traders-Talk User
  • 917 posts

Posted 07 May 2009 - 10:24 AM

What is hte 80% rule?


Overlap is important as it will be another confirmation that this is nothing more than a bear market rally, not like anyone really doubted that.


It's a market profile concept. This sums it up: www.marketdelta.com/xm_client/client_documents/80%20Percent%20Rule%20Strategy.pdf

#37 rkd80

rkd80

    Member

  • Traders-Talk User
  • 2,385 posts

Posted 07 May 2009 - 10:39 AM

oh very nice! This can go a long way in determining gap activity..i am just having trouble understanding how to accurately pinpoint the value area.
“be right and sit tight”

#38 MoneyFriend

MoneyFriend

    Member

  • Traders-Talk User
  • 917 posts

Posted 07 May 2009 - 10:45 AM

oh very nice! This can go a long way in determining gap activity..i am just having trouble understanding how to accurately pinpoint the value area.


what platform are you charting intraday on?

#39 rkd80

rkd80

    Member

  • Traders-Talk User
  • 2,385 posts

Posted 07 May 2009 - 10:51 AM

oh very nice! This can go a long way in determining gap activity..i am just having trouble understanding how to accurately pinpoint the value area.


what platform are you charting intraday on?


IB
“be right and sit tight”

#40 rkd80

rkd80

    Member

  • Traders-Talk User
  • 2,385 posts

Posted 07 May 2009 - 11:03 AM

Based on what you sent me, I can tell that Nasdaq has now satisified the criteria, but that is because we are still lower than all of yesterday's range.
“be right and sit tight”