covered nq's at 1893..lost 5 points

not going to get slaughtered calling an audible ...just going to stick to buying pullbacks and being patient and waiting for my spot

Edited by atlasshrugged, 09 March 2010 - 10:08 AM.

I didn't want to say this yesterday, but the first gap down after such a rally always gets bought. I thought you would cover early in the morning. I went long around 1133 and just dumped for 5 points, although I think there is potential up to 1141... But I trade ES, not NQs... Best of luck...

I didn't want to say this yesterday, but the first gap down after such a rally always gets bought. I thought you would cover early in the morning. I went long around 1133 and just dumped for 5 points, although I think there is potential up to 1141... But I trade ES, not NQs... Best of luck...

i had a buy in at 1875....didnt wake up to see it filled....by the time i got my computer on..i was already losing money.....

I didn't want to say this yesterday, but the first gap down after such a rally always gets bought. I thought you would cover early in the morning. I went long around 1133 and just dumped for 5 points, although I think there is potential up to 1141... But I trade ES, not NQs... Best of luck...

i had a buy in at 1875....didnt wake up to see it filled....by the time i got my computer on..i was already losing money.....

i should have shorted the es yesterday...it got down to 1131 last night which was my target...dang

It happens, I keep exiting too early too. The daily range is now 8 points, obviously something has to give, a few more days of patience... The chances are the market rallies into the close today with 1 points down, 2 points up fashion and tomorrow will be down, but the week should close up... I think early next week is where you will see up to 20-25 points volatility... If they are looking to land over 1120-1125, we should see 1145 this week...

Edited by arbman, 09 March 2010 - 10:50 AM.

Just to re-state ..... (mostly because I think the second half (QE reference) has gone unnoticed by people,..).

The boys should have plenty of money to play with tomorrow:

Operation Type: Outright Agency Coupon Purchase
Operation Date: March 9, 2010
Release Time: 10:30 a.m.
Close Time: 11:00 a.m.
Settlement Date: March 10, 2010

http://www.newyorkfe...p;opertype=agny


Did anyone catch the following statement on the NYFED POMO page:

"Following the conclusion of this outright, the Open Market Trading Desk (“the Desk”) will adopt a practice of conducting outright agency coupon purchases once every two weeks. The Desk may alter this practice as market conditions warrant."

So QE does not end in march it continues every two weeks till the end of time (or as market conditions warrant).

BTW: Wed: 10-Yr Note Auction 1:00 PM ET Thur: 30-Yr Bond Auction 1:00 PM ET

Thanks for the info Jim, I think tomorrow should be down though, the number of days within a 20 day winning streak has just gone crazy now. We had one of the most up days within a 20 day interval now...

BTW:

Wed:
10-Yr Note Auction
1:00 PM ET

Thur:
30-Yr Bond Auction
1:00 PM ET

the obvious resistance on the es is 1147....i could see i sell off from there that would fullfill the nr7 wr7 pattern from yesterday thus satisfying the theory that selling the close on a nr7 day after an wr7 day is profitable... this tape is strong

Thanks for the info Jim, I think tomorrow should be down though, the number of days within a 20 day winning streak has just gone crazy now. We had one of the most up days within a 20 day interval now...

BTW:

Wed:
10-Yr Note Auction
1:00 PM ET

Thur:
30-Yr Bond Auction
1:00 PM ET

I think we may be down the rest of the week... in a slow bleed.