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What a struggle today. Keeps going back and forth. I've been stopped out and got back in several times. Pretty rough. If the bulls can repel the bears and close green, that would give a lot of people confidence to join in. I imagine if we're close in the last hour we may see a big run...

Not sure we need PPT today. People think the bottom is in.

There's got to be a lot of people who missed out yesterday and are waint for the pullback. A 50% retractment is around 863 and 38% is at 872..

I got out earlier, just got back in with 1/2 position. Started out looking like a trend day but I've still got hope we'll close higher..

We're talking 610 million here. I'm not sure any normal trader would take that risk when he could wait and buy at 775..

I agree with Rich. This is a bear rally up to 1200 for S&P. After that, we will take out the oct lows. The public will be suckered into the rally towards the top. It will get ugly. But hey, that's not until next year so enjoy the rally up while we can!

This isn't the first time they've been accused of it, so multiply your 30 billion by 3. Now it's 90 billion. Out of a bailout package of 700 billion. I seriously doubt they'll use up 90/700 to prevent a crash. The sellers were running out of energy for the past month. That is visible in...

So has the world. Technology, internet, globalization. 2008 is not the same world as 1988. Everything has changed. India & China are on their way to becoming world powers. The US is leading in innovation and services and technology. I don't think we can make the valuation comparison.

This makes a lot of sense. In the past I had tried to enter positions in the morning and if it was a trend day stay until the end. But ESR's technique is more of a scalping technique and what you say makes sense. I didn't think much about trading earlier but I agree that it can be done...

Trading Es until 10 pm is taking its toll on my family life. I trade ES because of the techniques and analysts that I follow also follow the S&P. But I'm hoping to learn to do everything myself and apply it to european markets. The problem is I don't have access to the same breadth...

This is cool that you want to trade the stoxx because I'm interested in trading that one too. Are you in Europe? I'm in France. For now I'm practicing with ES because that's what most others are trading. But I've also been practicing with oil & gold & euro. For me the red line was...

I don't think hedge funds fail to be the S&P at all. It's the mutual funds that fail to beat it. Hedge funds do quite well. If not they wouldn't exit, the hedge fund clients are millionaires and they're not dumb (like the mutual fund clients).

Does this still qualify as a hammer? I'm not that great with candlesticks so I don't know what the name of it is, anyone know?

I think we already broke out of the triangle and this is the pullback back to the broken trendline (down) which now acts as support. The volume over the past few weeks has been really weak, and now and a big volume day the price goes up. I'm seeing lots of positives here. Did anyone...

This makes a lot of sense. At first I was thinking the close would make more sense since that's where price ended up but on a timeframe that is artificial (minute, hour, etc. as opposed to a day or week) the close can vary but the spike doesn't. The spike is the same whether you have 60 minute...

The downside push was getting weaker and weaker. That was seen by the decreasing volume and all the positive divergences in the indicators. So buyers were just lying and waiting. Stalking. Once it hit the lows the buyers started scooping up the bottom. If only I had put in a buy limit...

I think so. There are major positive divergences. Just about all the indicators show positive divergences. I'm back long from 866. PS: This is a temporary bottom. I still think we'll revisit the 2002 lows but not until next year.

This is easy to do with a strategy in ninjatrader.

I'm only using Ninjatrader for backtesting at this time. I hope to run some automated systems soon. I was assuming you could automate the calculation of your target. If so then Ninjatrader can do it. If you have to calculate it by hand yourself, then I'm not sure but i don't see why not.

This would be really simple to automate with Ninjatrader and it'd work with your broker. To make it even more interesting, if you have an algorithm for determining your buy stop price then you could backtest it and see if you can optimize it. Just a thought!