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Thanks for the input. BTW Chick's words not mine... “Of all the different bits and pieces of information I have come across during my thirty-plus years of trading, without a doubt the one that has cost me more money than any other has been the Commitment of Traders data. This simple...

Off topic: Who's the guy that drives the Bently with tag "TraderX" ?

COT data is not really helpful for trading the S & P 500 futures or financials in general. Too many confounding factors. COT data on the Ags are useful. Some people do look at the size of the orders and plot those separately from the "small lot" traders. (Top Gun) This is a fruitful...

Funds are fully invested at present. I agree. We MAY rally into 2006 but all is not rosy in my crystal ball.

Weekly pivot S2 low of week ES 1204.25 So yeah maybe works.

Is Vol. Impt? Look at the adv/declines on the NYSE. Peak 920ish. Look at the volume on the NYSE. Low. Range lowest for along time. Seems like 900+ on A/D would have fueled a better move than today but I suppose the missing ingrediant was vol. Thoughts? D.

Sunny not to hijack your thread but I do like the topic... Todays classic pivots: R2 1237.75 R1 1230.75 PP 1224.25 S1 1217.25 S2 1210.75 "My Modified Pivots" R2 1239.50 R1 1232.75 PP 1224.00 S1 1218.00 S2 1212.00 With the exception of the PP...

Thrown off the horse early in the am meandering and low volume chop. Banked $150. If I traded like this every day I might as well work at Mickie D's. Same money but they throw in 2 burgers and fries for free.:)

Because on days like today you can get chopped into little pieces if you're not careful.

The "zones" don't always end up so tight. Just happened that way today. Oh yeah and today's open = close = PP. The zones were worth illustrating today because they worked perfectly. No "trade throughs". That is not always the case. I typically widen "My Modified Pivots" to incorporate...

"Classic" pivots on the ES R2 1230.25 R1 1227.00 PP 1224.00 S1 1220.75 S2 1217.75 "My Modified Pivots" R2 1231.50 R1 1227.00 PP 1224.50 S1 1221.00 S2 1216.75 So my...

Back to "Pivot Zones." Today's calculated "classic" pivots in the ES r2 1230.25 r1 1227 pp

About time we had some volatility. I guess wall street needed to squeeze some cash out for the last summer vacation of the year.

Exactly. But you gotta be ready for the pain of an occasional trade through. That's where the scaling, scalp, and washes help during the turn.

Truth. That is volume is current, amperage, flow, contracts/sec, shares/min, whatever... If price is rising WITH volume it will continue in that direction until it doesn't. But a low volume consolidation is just that. So depending on your timeframe (you gotta know if this is a scalp...

Indeed. At about 2:30 EST (1:30 Central) on the ES @ 1220 an ask for 10,500 lots appeared. Of course it was a spoof and was meant to "confuse" algorithmic boxes. I rarely see that big a spoof. Of course the limit is 1,500 lots per trade and the 10K contracts were 2 ticks above the market...

Choppy like today. Agreed that if you can figure that out trend vs. chop you're good. But I find trading chop tiresome as you can lose all your profits for the day just by spacing or making one mistake. But trading chop is a skill well worth learning.

Isn't that the gist of trading technologies xtrader dom patent?

Watch level 2. When you see a constantly refreshing buy or sell order and a "wall" in which price doesn't penetrate more than likely you're looking at a hidden order of size. Not appreciated on level 2 except that bid/ask continually reloads just as it appears bids/asks are thinning.

Gringinho, Thanks, D.