7 replies to this topic

[NAV]

Not many are seeing what i am seeing at this point. I like that. That means i am either spectacularly wrong here or spectacularly right. It's a complex pattern. I need some confirmation which i should get either by the EOD or EOD tommorow, when i will post some charts and indicators to support my view. Right now, it's too early and top picking (which i am guilty at this point - OEX puts from ES 1547 level ).

[relax]

days after www should mix between big up and big down

and ppi/cpi date next week - we have big moves in store both ways

Not many are seeing what i am seeing at this point. I like that. That means i am either spectacularly wrong here or spectacularly right.

It's a complex pattern. I need some confirmation which i should get either by the EOD or EOD tommorow, when i will post some charts and indicators to support my view. Right now, it's too early and top picking (which i am guilty at this point - OEX puts from ES 1547 level ).

[denleo]

NAV, I think we are looking at different things, but seeing the same conclusion. Good trading as always! Today's average NYSE Tick is almost at zero = no institutional buying. That is on a day when DOW is up 200. Denleo

[NAV]

Today's average NYSE Tick is almost at zero = no institutional buying. That is on a day when DOW is up 200.

Denleo

Denleo,

I made a similar observation yesterday on one of da_cheif's thread. Not a single 1000+ tick yesterday - Not a single buy program, while we saw a cluster of -1000 ticks yesterday !.

And just one program trade today ! Let's see if the boyz can wake up the institutions or get clobbered badly.

[rkd80]

So who triggered this massive short squeeze? Just sort of happened by itself...?

[NAV]

The point that denleo is trying to make is that the move happened in the derivative pits and not from the instituitional desks. You can always count on the arbitrageurs to move the cash markets once the futures guys engineer a move.

Edited by NAV, 12 July 2007 - 01:51 PM.

[denleo]

What do you mean who triggered it? Futures traders. ETF traders. I am scalping spooz on the long side too today. It has nothing to do with internals and longer-term view. Denleo

[NAV]

Ok that's it. Closed OEX puts that i took near ES 1547 and ES 1552 around ES 1554.50. I just use ES as a reference, cuz that's the market i watch most of the time. Now that 1554.50 is taken out, this whole sideways market theory is questionable and we are now just 2 points on ES from making new recovery highs. Back to the drawing board now .

Edited by NAV, 12 July 2007 - 02:46 PM.