I am just watching this... crazy.
What happened?
Fell apart
Started by
arbman
, Mar 16 2011 10:01 AM
7 replies to this topic
#2
orange
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Posted 16 March 2011 - 10:04 AM
I am just watching this... crazy.
What happened?
Stops at 1269 were hit. Pisses me off, closed a short scalp just before that happened.
I'm looking to buy the next pullback here... I hope I'm not catching a knife
Edited by orange, 16 March 2011 - 10:05 AM.
"When your position is underwater, average down" - Professional Trader
#3
spielchekr
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Posted 16 March 2011 - 10:06 AM
Downtrend reasserting itself?
#4
orange
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Posted 16 March 2011 - 10:09 AM
I swear this thing is a short term buy here at 1260ES june.... We are in a crash mode, but statistically, we should close above 1255ES
Edited by orange, 16 March 2011 - 10:11 AM.
"When your position is underwater, average down" - Professional Trader
#5
IndexTrader
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Posted 16 March 2011 - 10:11 AM
An energy expert from the EU said the Japanese situation is out of control.
IT
#6
Mr Dev
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Posted 16 March 2011 - 10:19 AM
I swear this thing is a short term buy here at 1260ES june.... We are in a crash mode, but statistically, we should close above 1255ES
hi O,
can you further explain your mixed emotions on how ...'we are in crash mode' equates to... 'i swear this thing is a short term.....buy.'
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
orange
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Posted 16 March 2011 - 11:48 AM
can you further explain your mixed emotions on how ...'we are in crash mode' equates to... 'i swear this thing is a short term.....buy.'
Please see post last night from here - http://www.traders-t...?...st&p=567882
The risk being long or short here is very high, but the probability favors a rally in the short term. We are declining at about the maximum rate for which declines in the SPX occur. If we decline any faster, we are basically crashing (this is per my scripts I run each night). There is only a 1% chance we close below 1255ES today, and that tells me the downside is VERY risky here.
Some people remain swing short here, and there is nothing wrong with that if it is aligned with their system or methods. For me, the risk and probability to the upside FAR outweigh any further decline we might see in the short term.
This is why I took a 1259ES long basis in the last hour which I will scale out as we head higher. I scalped 1260ES earlier so I should be able to hold onto this position without losing any $$$. I have stops under 1260ES...
Respect.
Edited by orange, 16 March 2011 - 11:56 AM.
"When your position is underwater, average down" - Professional Trader
#8
dasein
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Posted 16 March 2011 - 11:54 AM
An energy expert from the EU said the Japanese situation is out of control. IT
a political appointee head of the EU energy ministry, formerly a german tax lawyer said that - he is no energy expert, not is he politic, and like zu Gutenberg, he might be gone soon...
best,
klh
klh
