No one disputes that there was higher volume on 10/10, what is at issue is whether we built cause to test lower in March, per your posts, your chart confirms that we tested the November lows on lighter volume... and we had a spring off that lower volume test...
What I talk about when I talk about Volume
Started by
unosuke
, Mar 15 2009 02:09 AM
13 replies to this topic
#11
SemiBizz
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- Traders-Talk User
- 23,208 posts
Volume Dynamics Specialist
Posted 15 March 2009 - 02:54 PM
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#12
tommyt
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- Traders-Talk User
- 5,136 posts
Member
Posted 15 March 2009 - 03:02 PM
great work Uno. I guess my question is, when do you close out a short position? I'm trying to understand 3 different scenarios. If a low is made on volume, it sounds like you wait for the potential retest if on lower volume, then cover? If a low is made on relatively low volume, no cover? If a rebound takes out a previous swing point on bigger volume, cover?
#13
unosuke
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- Traders-Talk User
- 417 posts
Member
Posted 15 March 2009 - 03:08 PM
great work Uno. I guess my question is, when do you close out a short position? I'm trying to understand 3 different scenarios. If a low is made on volume, it sounds like you wait for the potential retest if on lower volume, then cover? If a low is made on relatively low volume, no cover? If a rebound takes out a previous swing point on bigger volume, cover?
By my own stated trading plan, I should have sold half my ultrashorts (and all EEV) at Thursday's close, but I couldn't bring myself to do that and created a thread I am furious (yellow) to vent. I'll be placing hard stops soon. (Btw, my EEV position is heavily negative, QID is modestly underwater, and the rest are still positive)
Edited by unosuke, 15 March 2009 - 03:11 PM.
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#14
inamosa
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- Traders-Talk User
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Patterns-based Trader and Investor in ETFs and Futures
Posted 15 March 2009 - 09:13 PM
You explain your work very clearly, unosuke
Nice of you to share your analysis...now we shall wait and see how things work out (the most exciting part, perhaps)
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
