yep lower later on most likely. just dumped another 20% at same spot 1095.75Interesting 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.
Buy or Sell ?
#11
Posted 17 December 2009 - 10:34 AM
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#12
Posted 17 December 2009 - 10:42 AM
#13
Posted 17 December 2009 - 10:50 AM
#14
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
Posted 17 December 2009 - 10:54 AM
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
#16
Posted 17 December 2009 - 10:57 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.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.
le dump the rest 1097.50 Do not care what it does from here. I think it goes lower later.
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#17
Posted 17 December 2009 - 10:59 AM
#18
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
Posted 17 December 2009 - 11:01 AM
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...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.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.
le dump the rest 1097.50 Do not care what it does from here. I think it goes lower later.
#20
Posted 17 December 2009 - 11:06 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.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.
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.