Edited by NAV, 20 April 2007 - 12:08 PM.
Probing again...
Started by
NAV
, Apr 20 2007 12:05 PM
6 replies to this topic
#1
NAV
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Posted 20 April 2007 - 12:05 PM
Short NQ 1854.
Not expecting much out of this trade, given the OPEX machinations today. Waiting for a payoff next week, unless there is some spurious spike later in the day, which could take out my stops.
#2
redfoliage2
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Posted 20 April 2007 - 12:31 PM
Relax, you will see no spike in the rest of the day . Manipulators already got what they wanted.Short NQ 1854.
Not expecting much out of this trade, given the OPEX machinations today. Waiting for a payoff next week, unless there is some spurious spike later in the day, which could take out my stops.
Edited by redfoliage2, 20 April 2007 - 12:33 PM.
#3
NAV
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Posted 20 April 2007 - 12:35 PM
Relax, you will see no spike in the rest of the day . Manipulators already got what they wanted.Short NQ 1854.
Not expecting much out of this trade, given the OPEX machinations today. Waiting for a payoff next week, unless there is some spurious spike later in the day, which could take out my stops.
I am always relaxed
But thanks for the assurance though 
#4
denleo
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Posted 20 April 2007 - 12:38 PM
Hey NAV,
I don't think we are going to go anywhere today and Monday, but overall I agree that a pull back is possible. What are your expectations in terms of price projections on ES and NQ?
Thanks
Denleo
#5
fib_1618
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Posted 20 April 2007 - 12:40 PM
Never under estimate the human emotion of greed.Manipulators already got what they wanted.
Fib
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“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
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#6
NAV
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Posted 20 April 2007 - 12:49 PM
Denleo,
If there was a "week" in the last few months, where things have been funky, it's this week. Market shows price momentum exhaustion and gaps down huge yesterday. The A/D line looks horrible and they rally the market back to highs. EOD yesterday, the NYSE MCO goes below zero. Today, they gap it up again. Guess what, we have a good breadth today and they selloff. Not something that happens in the middle of the trend. Not something that happens on a non-OPEX week. I think the funkiness will resolve to the downside next week. Based on how my daily indicators look at this point, i expect a rather deep pullback to about ES 1450-52 area. Given the hype about his breakout, this is not something the bulls would agree with me at this juncture. TWT.
I am putting my money where my mouth is.
#7
redfoliage2
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Posted 20 April 2007 - 12:58 PM
But for today there is a level they want to stick to: the cash balancing point of options.Never under estimate the human emotion of greed.Manipulators already got what they wanted.
Fib
