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<i>"volume as an indicator = tea leaves"</i> Low volume = lack of market participants. Pause in prevailing trend. High volume = accumulation or distribution is the trend. Low volume periods following high volume periods are usually a pause or correction before high volume trend continues.

<i>"For the most part, I have found that the "low volume" comment is usually a newbie comment. From my 10+ years of trading, I have learned that volume of the overall market is one of the least reliable indicators. And by the way, it's freakin' August!"</i> Well, a lot of newbies back in...

<i>"The mere fact that this thread exists explains the action late today. Too many bears in the den today."</i> Lack of bears today... total absence of sellers. That's why it drifted upward on nil volume, no squeezing. Day traders should have been on the long side since morning. Everyone...

<i>""If the markets are weak today I would like to see how much the dow rises when it is is actually 'strong' "</i> The Dow is a token index inside the S&P 500. Same with NDX... which makes S&P 500 "the market" all encompassing. Up nicely today, an August Friday. What's the current...

<i>"Did the Fed react to commercial paper market and interbank lending dislocations or did they react to the SP500 being down 10% from it's intraday high and being flat YTD?"</i> The worst of that news was released prior to Friday's option expiry session, a day widely known for high volume...

<i>"But historically you don't see the Fed panic on every 10% drop in the SP500."</i> We saw that last week, now didn't we?

<i>"I don't think this Fed will be too concerned with the stock market performance."</i> Why a token rate-cut on option expiry Friday, hours ahead of the bell? The Fed is clearly and blatantly fixated on stock-market performance, they have been since Gspan's beginning reign. Don't...

<i>"I read "history tells us we will have to retest the lows" all the time. Why is that? What rulebook says there must be another turn down before we test new highs?"</i> The markets can do anything they wish, we all know that. From a probability standpoint, stock markets crushed lower on...

<i>"Their is range but you must trade the index futures 24 hours a day to catch it. "</i> Oh really now? Who is humanly capable of accomplishing that? One thing is for sure: if I were a young stock investor who only bought dips and never sold, I'd be out there earning another income...

<i>"no legs on a bounce?"</i> Correct... no legs on this bounce. The +100 S&P points were accrued thru Thursday afternoon PPT squeeze, Friday's Fed-driven gap and opening gaps this week. Intraday, absolutely nothing bullish has happened. No accumulation on high volume to base a floor...

<i>"... if you don't understand what that leverage is all about."</i> Leverage is having a case of beer in your refrigerator, and having the self-control to drink one at dinner instead of all 24 in one hour. Leverage is having $30k in an account with ability to trade 60 contracts on...

<i>"over the last year when I have been looking at the YM, it's been down like 3 times I've never had such issues with other markets..."</i> Back in Jan 2004 I was running money in 30yr bonds. Had +/- 40 contracts on along with my own. Had a short trade working +'8 ticks in favor with stop...

In my time of trading, the CME has been down once. During that period of years, the CBOT has been down at least six - seven times. One major reason why I don't trade anything on the CBOT... too bush league for me.

<i>"I hope you are not insinuating that my 1/4 method and my scaling in countertrend method are both in the same trading lala land? While I do contend that 1/4 way is not viable in its original form, I think my countertrend scaling in way is viable."</i> Not at all... I am wondering why you...

mjoe, ksonsinc... the topic of this thread has nothing to do with how I or anyone else trades. I'm not a scalper, the only reason I opened dialog was to discern how 90+ to 150 pts intraday ES gains were accounted for. Keeping threads on topic is one continual challenge in this forum. I have...

<i>"austinp it would be informative to know what educational materials you have found useful in your career? how much of your trading is mechanical rule based and how much discretionary?"</i> I personally have no use for volume or sentiment indicators of any kind. I'm sure they offer value to...

<i>"I am focusing my time and $$$ on learning as much as I can about the way I think about trading and studying trading psychology. This is a mind game, trading that is. It is designed by the pros to slowly bleed the sheep dry."</i> There many stages between newbie and consistently profitable...

<b>kiwiroo</b>, I greatly appreciate the effort you went thru to answer my question. Thank you for that. First of all, 90+% of all emini traders lose money. With that in mind, any way someone books consistent profits is outperformance on its face. Let's establish that part right now. I...

<i>"I guess scalping for 3 to 4 ticks CAN pay off handsomely and made my original quest for the holy grail a little bit more validated..."</i> How do you figure that? Your original thread had nothing to do with scalping for 3 - 4 ticks... it was specific to 1/4 (0.25pt) ES or one single tick...

Since 7am est, I've traded long 1451.50 = out 56, short 55 out 51 and short 52 out 50. How many points is that? One contract = +10pts, three contracts = +10pts or +30pts? The answer is literally that simple to explain. Like I said, no need for further response. The manner in which it was...