33 replies to this topic

[arbman]

I started to buy around 1223 and on I was fully long around 1226 with a tight stop, but it took off about 10 points from my average price. I was expecting 1230s to be tagged only, I am not sure it will make a trend day with so much speculative weight already on its back. I am looking for 3-4 points discount from the opening, then probably it tests the highs for the day or higher.

[NAV]

What happened to the S-E-E-E-L-L call ?

[arbman]

Z, do you still think 1235-1240 is coming anytime soon today?

Edited by arbman, 07 December 2010 - 10:29 AM.

[tommyt]

Was this only a stop run?! no, its called a manipulated mkt of enormous proportions. Its December, relax and hope you get a shakedown to buy it, instead of focusing on top tick without more evidence (like a key reversal, new divergence triggers).

[zoropb]

Z, do you still think 1235-1240 is coming anytime soon today?

Arbs about 1238 +- in the afternoon.

[arbman]

Z, do you still think 1235-1240 is coming anytime soon today?

Arbs about 1238 +- in the afternoon.

I will keep my fingers crossed for you, best of luck! I will just scalp here and there...

Tommy, I agree, the seasonality is on bulls side at the moment.

Edited by arbman, 07 December 2010 - 11:34 AM.

[arbman]

btw, RUT is still leading the way up, the next pull back will be very sharp though, now the crowd is REALLY loaded up. In any case, exxceeding 1232 for ES will be really difficult today.

Edited by arbman, 07 December 2010 - 11:52 AM.

[tommyt]

btw, RUT is still leading the way up, the next pull back will be very sharp though, now the crowd is REALLY loaded up.

In any case, exxceeding 1232 for ES will be really difficult today.

it looks and feels like a candle day is today, after the gap at the highs...no shorts here yet. Additionally, GLD may candle ST also, which may cause all to stall ST:

gld

[arbman]

The problem is Euro, it really lost all of its initial steam and gave its rally back. The grinch = Euro. The entire rally is almost given back now, Euro needs to reverse, but it seems to be breaking down again from a rising flag.

Edited by arbman, 07 December 2010 - 11:59 AM.

[dcengr]

for a break out.. it's testing 1228 for quite a bit of time...