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#1 maineman

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Posted 06 February 2007 - 10:18 AM

The trading action of the past two days, and especially this morning, reminds me of actual fighting. If this wasn't a day and age where we do most of our trading on-line, I could almost picture traders beating the stuffing out of each other on the trading floor. There is an enormous amount of "tension" built in. Be nimble.... mm
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#2 OEXCHAOS

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Posted 06 February 2007 - 10:33 AM

That's what I've been saying. Very funky stuff. Mark

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#3 arbman

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Posted 06 February 2007 - 10:44 AM

All consolidations resolve to the upside, so even if it is about to decline, it will spike higher one more time, me thinks...

#4 eminimee

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Posted 06 February 2007 - 12:00 PM

Consolidation or distribution?

#5 fib_1618

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Posted 06 February 2007 - 01:07 PM

Consolidation or distribution?

There's actually an indicator that can help in deciphering between the two...On Balance Volume.

What does it say?

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#6 arbman

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Posted 06 February 2007 - 01:18 PM

Consolidation or distribution?


Whether it is an accumulation or distribution can be somewhat concluded with the volume and implied volatility patterns and it is not an accumulation. However, my observation is the purpose of every consolidation is to see whether there is any demand at a certain price, especially in an uptrend, this always ends first trying the upside before a reversal lower. The only clear pattern of failure for me is a broken rising wedge which implies higher prices to begin with, it probably fails almost all the time since they usually have also a parabolic structure, the problem then becomes how high it will go... :)

#7 eminimee

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Posted 06 February 2007 - 01:33 PM

my hourly es ..both moneyflow and obv suggest distribution

#8 fib_1618

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Posted 06 February 2007 - 01:49 PM

my hourly es ..both moneyflow and obv suggest distribution

And the daily?

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#9 eminimee

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Posted 06 February 2007 - 02:14 PM

money flow says distribution on the daily...obv....jury out...it's taking a dip for sure.

#10 maineman

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Posted 06 February 2007 - 02:21 PM

1440+ to 1450 (SPX) and it's all just quibbling. A break above or below and then we're talking about a nice trade. In this chop, I'm a chicken (except for the little intra-day nickel and dime trades) for the big position trade. mm
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