A lower low than the previous day (early). Market could not break 880 even after several attempts. Signs of weakness?? Perhaps some suckers were drawn in today? Could break 900 but for how long? And how hard will she fall?
All the dips are getting bought. There is a lot of money to be made in trading the bounce as I see it. I like Hershey's idea of just looking at a chart and adding up all the money that is there for the taking by looking at all the zigs and zags.
I'll only take another car if it jumps back up today. Letting my YM trade run (short at 12879). Short the ES also at 1483.25 & letting that run.
Watching a July corn trade I have running right now. Short there at 381.75
BK
a.k.a. "Mr. Short," "shorty," lozzer" (you get the idea)
Maybe not a bad move. This down move tonight was on such light volume. Day shift may buy that and run right thru it for easy money. Kind of like what happened today. I've seen that a lot with corn. Night shift will run the price up or down on light volume then day shift takes it the other...
Many times I would see lots of movement in the first 15 minutes then it would just sit stuck in one spot most of the night. Like watching the paint dry. Much like the ES at night. ZZZZZZZZZ
I used to. Get out before the day shift takes over. Volume is too thin for me. It will be interesting to see what the day shift does with the runaway buying going on in the July contract tonight. Highs are for shorting, bottoms are for buying.
Hang on and give that car a good test ride tomorrow.
Are you -2 now?
I am still holding my -1 at 879.
We're pretty small potatoes but I imagine there have to be some heavy hitters out their licking their chops waiting to hit this on the short side. That's what highs are for.
low volume is a sure fire way to lose money :)
This is true. When I started trading I had the mistaken notion I could trade at night. $2500 later I found out that was not such a good idea.