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Buy or Sell ?


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#11 zoropb

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Posted 17 December 2009 - 10:34 AM

Interesting day....gold stocks acting very poorly (GDX) but the KRE is acting well. WFC also doing fine with XLE outperforming. It's a tough call right here IMO. The 1100 +/- level seem important to me and given today's terrible breadth we can see things sell off more later. I felt like a break and ST run was all but certain yesterday and know things don't look so hot so far. Let's see what we get today from lunch time on.

yep lower later on most likely. just dumped another 20% at same spot 1095.75
I run a traders Blog with high probability targeting on ES , YM, and will put up 3 others if asked. I mainly trade es and YM. http://ztradingintro.blogspot.com/ YM targeting is closed to any new members for good. Thanks for your interest. Good trades to you.

#12 steve

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Posted 17 December 2009 - 10:42 AM

1100 SPX should be a magnet until 8:30 am (CST) Friday SPX option expiration. Huge open interest at the 1100 level.

#13 Jnavin

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Posted 17 December 2009 - 10:50 AM

http://chart.ly/5v2a8e
ES "volume profile gradient"

#14 Venatici

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Posted 17 December 2009 - 10:53 AM

http://chart.ly/5v2a8e
ES "volume profile gradient"


What a fancy chart you have there! :-) With plenty of doppler effect...

#15 SemiBizz

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Posted 17 December 2009 - 10:54 AM

Reality Check: TIME: Quarter to Options Close on the precipice of the Christmas Holiday Swoon...
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#16 zoropb

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Posted 17 December 2009 - 10:57 AM

fed game says today is the trend day...so should be down good all day. Since no quad unwind took place earlier, its gotta unwind today and tomorrow's open. Could be a large gap tomorrow. IMO, most have been put to sleep by the last 5 weeks, and won't have anything for the real move. Many have been trained to trade for 2,3,4 ES points, nothing wrong with that, just a sign of whats its done to the crowd. To add, Bol Bands are pinched almost to extreme and ADX on SPY is in the 10's now = unreal.

Tommy what is wrong about racking up 1-2 points over and over in the day and say if you can pile up 8 day after day. Every 10 days is 80 points every 30 =240 while one sits and waits and risk capital for the homer of 40 or so. Sounds like the pointer trader dude is not doing to bad.




le dump the rest 1097.50 Do not care what it does from here. I think it goes lower later.
I run a traders Blog with high probability targeting on ES , YM, and will put up 3 others if asked. I mainly trade es and YM. http://ztradingintro.blogspot.com/ YM targeting is closed to any new members for good. Thanks for your interest. Good trades to you.

#17 tommyt

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Posted 17 December 2009 - 10:59 AM

Tommy what is wrong about racking up 1-2 points over and over in the day and say if you can pile up 8 day after day. Every 10 days is 80 points every 30 =240 while one sits and waits and risk capital for the homer of 40 or so. Sounds like the pointer trader dude is not doing to bad. nothing at all, and good trading...cause thats what the mkt is giving you...I just see extremes in here and positioned for that...like I have been saying, I have been wrong, do the opposite.

#18 jjc

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Posted 17 December 2009 - 10:59 AM

http://chart.ly/5v2a8e
ES "volume profile gradient"



We seem to have bounced strongly against a low volume area. What am I missing?
(cum tick hit a 3stdev boundry at bounce bottom but still).

#19 porsche911sg

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Posted 17 December 2009 - 11:01 AM

fed game says today is the trend day...so should be down good all day. Since no quad unwind took place earlier, its gotta unwind today and tomorrow's open. Could be a large gap tomorrow. IMO, most have been put to sleep by the last 5 weeks, and won't have anything for the real move. Many have been trained to trade for 2,3,4 ES points, nothing wrong with that, just a sign of whats its done to the crowd. To add, Bol Bands are pinched almost to extreme and ADX on SPY is in the 10's now = unreal.

Tommy what is wrong about racking up 1-2 points over and over in the day and say if you can pile up 8 day after day. Every 10 days is 80 points every 30 =240 while one sits and waits and risk capital for the homer of 40 or so. Sounds like the pointer trader dude is not doing to bad.




le dump the rest 1097.50 Do not care what it does from here. I think it goes lower later.

Z, you trading system is perfect... I do that somethings but something these two three point trades i can't be bothered to postcause i do it in asian time.... cause leaverage is higher...
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!

#20 NAV

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Posted 17 December 2009 - 11:06 AM

fed game says today is the trend day...so should be down good all day. Since no quad unwind took place earlier, its gotta unwind today and tomorrow's open. Could be a large gap tomorrow. IMO, most have been put to sleep by the last 5 weeks, and won't have anything for the real move. Many have been trained to trade for 2,3,4 ES points, nothing wrong with that, just a sign of whats its done to the crowd. To add, Bol Bands are pinched almost to extreme and ADX on SPY is in the 10's now = unreal.

Tommy what is wrong about racking up 1-2 points over and over in the day and say if you can pile up 8 day after day. Every 10 days is 80 points every 30 =240 while one sits and waits and risk capital for the homer of 40 or so. Sounds like the pointer trader dude is not doing to bad.




le dump the rest 1097.50 Do not care what it does from here. I think it goes lower later.


Z,

Absolutely nothing wrong about it. You can actually trade much higher leverage with less exposure (like overnight exposure which is required for non-leveraged overnight trades). I used to do it a few years back with very heavy leverage. It actually requires more talent and presence of mind. The rewards are also higher. But i gotta say it's a tough job. Not for everyone. You seem to do very well in that style of trading.



P.S - Correction - My scalps were never 2-3 points. It was always 4-10 points types.

Edited by NAV, 17 December 2009 - 11:09 AM.

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