Search results

Was thinking the same area, more like 41 for me, this is today's profile and there's a nice separation between balance areas around 41.

That being said, if it breaks 48 strongly and pulls back I may short looking for 43ish.

41 is much more of a reality check than 48 ... 48 breaking just means the bulls may be waiting for a better price. I don't know what volente's average is, but I think it's gotta get below 40 just for him to buy one mojito. The guy who averaged down yesterday and held because he was "right" has...

The fact that we could not even test the prior breakout point at 48.50, even after breaking the support at 49.75, is indicative of strength. The shorts have provided a lot of the fuel for this move up when they have to bail each time because they're guessing at a top.

I was one tick stopped yesterday, and while I appreciate being "almost right" I think sometimes I'd rather it blow through my stop so that I was dead wrong and can't get a case of the "coulda woulda shouldas". Yesterday I was also not filled on the low tick before the nice move up (17.75 I...

Nice trade!

If the sellers want some good movement, they'll have to work through the buyers that will buy 43, yday's high, support at 39, yday's settlement at 35, and the prior lows at 29-31. Can it happen, and will it happen? Yes, but without objective evidence of seller strength (not just "buyer...

Not necessarily. People blow accounts in one or two trades because "it will always come back" and they trade without stops, and average down. It works great until it doesn't come back and you're on the wrong side. And even when it does come back, it's a hell of a lot easier to trade with the...

Buying at 41 does not look that serious to me.. I will look to buy 39, depending on how strongly it approaches the area and what the volume looks like. I am still slightly pissed with myself for removing my buy order at 30.25 after it punched to 29 at the bottom, but I can't worry about that at...

I don't do fibs so I don't know where this falls but looks to be close to 50% -- there's a nice cluster of activity in the 39s to 40 that may also provide some nice support, even if yesterday's high fails.

A question-- a short now looks feasible; why didn't you wait to 47 to short, instead of shorting at every point you should have bought on the way up?

Maybe the guy from yesterday who fought the trend whose average is 29 and underwater since he opened the trade will decide to bail and buy from you.

No but it sure does make it more entertaining to watch.

31 held 5 times during the globex session. And it was the low number of the 31-34 range of balance found near the end of yesterday's session, if you're into profiling.

Yes but spikes aren't signs of weakness in a trending environment, they're signs of strength. Unless the other side does something and moves it the other way, it's simply adding more fuel to the fire, as those spikes in volume will cause one side to bail, and the longs are not in a position to...

Being right is causing you to be underwater $400 per contract right now, hope it's worth it. The market gave you three opportunities to get out with a profit as it was making higher lows.

What you call "weakness" is simply consolidation. A wise trader once set me straight on that. Higher highs and higher lows is not "weakness", it's giving enough time for shorts to buy into the premise that they've picked the top. Once enough are committed and have their stops above the...

What's your average price, 29.75? You haven't been in profit yet on this short because you are fighting the majority. It's a lesson I have yet to learn but I'm trying to resist the temptation to initiate positions against the strong side. I hope you do get in profit for your sake, and I...

Great trade -- nice target LF, I am a big fan of Brett's blog, and I do have tick up, but just watching it to see if it's helpful to me.

watch out shorts..