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flip the chart over... I see a bearish, inverted cup & handle. Handle is forming now, nearing breakdown completion

... except the final hour might be a lot more like Tuesday afternoon :cool:

Shorted ES 1405 at 6:18:26 and covered at 1397 at 7:11:00 Can it really be this easy making the big cash? There is absolutely zero risk shorting all resistance with impunity! <b>eqttrdr</b> was right... there is zero risk trading the S&Ps!!!

<i>"The markets will go higher soon unless there is a compelling reason to sell."</i> Markets may very well flutter higher for a bit over the near term, but selling to new recent lows is not complete. You'll know it when you see the near-term bottom put in, rest assured. Everyone will. Not...

I guess the first question is, why did you fund a trading account with real money if you aren't rock-solid sure what to trade and exactly how to go about that? If you intend to learn from square one using real money in the process, your account balance ain't big enough to avoid hitting zero.

<i>"my broker told me that during this Tuesday many accounts was blown out and many positions were closed 'cause of margin calls."</i> Those are the reversal traders who play fiscally suicidal games like using -2 / +1 risk-reward ratios, and especially the gang who average down when markets...

<i>"I froze after missing the initial short trade -..."</i> <b>sponger</b>, this one is simple. By your own words, you fear those certain, specific setups. Why? What is the worst outcome that can result from taking those trades? Bankruptcy? Hair loss? Impotence? Banned from ET? (laugh)...

<b>"Safe" Leverage</b> Today I began trading a small account ($4,300) using two contracts risking -$200 per stop total. That's roughly -4% of account balance per trade risked on initial stops. The first trade worked for +6pts ES, the second one +2pts, the third one +8pts... all from 6:30am...

<b>mymini</b>, get used to this. We'll be seeing much more volatility in 2007 = beyond than most traders have handled in their career. It's coming. There is most probably more selling to come... similar to Tuesday afternoon. They haven't bottomed for keeps just yet, that will come in very...

<i>"Hey Austin P... you still mocking Michael Steinhardts call for a correction last week and calling him an idiot like u did ??"</i> <b>aspen</b>, my sincere apology for missing the sarcasm relayed in that post. I absolutely agreed with him 100%... that was totally sarcastic humor on my...

In all seriousness, this morning was like trading thru one entire week's worth of normal market action. I left about the same amount of unrealized gains on the table as what got taken. Exited way too soon on everything, entered a bit late on some. For example, I just closed ES short 1407 at...

#1: Tick charts, not time charts #2: Prior experience helps. We've been saying for months now this type of action is coming... extreme low volatility IS ALWAYS resolved by extreme high volatility. Shades of 2000 - 2002 Currently one of my biggest profit days ever... one hour into the cash...

We're alive at the posts here today! Is it 2002 again? Viva La Volatility!!!

<i>"That's right ALL 400 points back By Friday. Impossible?"</i> Yes. Definitely. Much more probable to cough up another -400 by the weekend, instead. Roll up some Durban Poison to settle the nerves a bit, <b>Stoned</b>... were about to see some old school volatility rattling around here...

Gonna be a wild morning when the bell rings, for sure :eek:

I don't watch CNBC... just looking to trade the EC, and ES - ER rolled over in unison giving perfect sell signals. At first figured it was BOE decision, but not this. Clearly news driven, I'm just going with the momentum. Long now from 1393 and holding into a bounce... this is insane...

short 1400 = out 1392... +14pts ES in the pre-market "free" market! Implosion time is here... buy bye, bias bulls :cool:

Shorted ES 1410.50 = covered 1404.50 premarket. Short again from 1400 on the break, now printing 1397 Absolutely no risk shorting into resistance during this budding market breakdown. Test of Tuesday lows coming today... could be a continued meltdown into the weekend. No risk on the sell...

<i>"Any of em still in business? They've been wrong so long in so many reportables it's not funny anymore."</i> Commercials are seldom wrong... they are "the market". They scale into and out of huge positions, with much longer timeframes and pain threshholds than anyone else.

... and welcome back, <b>Shack</b>! This place is not the same without ya :p