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<i>"All I wanted to point out was that 30 day moves in equities, especially 10%/30 days ones have nothing and absolutely zero to do with "people suddenly and overnight becoming aware..."</i> For sure, agreed :>) Market sentiment takes weeks and months to shift. People are in shock right...

<i>"I wonder when people will stop rationalizing price action with PE and BS arguments. The markets go whereever they need to,"</i> Makloda, that's a question you need to ask about yourself. With all due respect, you've been posting about how fair-valued the market is for months now. It's...

"<i>I was long..."</i> Why? What made you ignore dozens of verbal and visual warnings? The only surprise about this first step (of many) lower in the market is how long it took to finally arrive. No one was surprised, everyone was properly and repeatedly warned.

<i>"Ah very interesting, so basically stocks have been overvalued for the last five years..."</i> Absolutely. Highly over-valued per their true PE ratios. Remove the buybacks, cutbacks, layoffs, debt-shift, options rewrites and other accounting gimmicks from that equation. Base PE ratios...

<i>"Explain why it won't be like 98 and will instead be a long bear market."</i> Wrong request. Explain why this time will be the same as 1998. Where is the quick fix = instant solution to rampant true inflation, debt-market drain, real estate drain, rising oil ahead of heating season and...

<i>"The only thing that can save the market (if it needs saving as you say) is a govt program to start buying mortgagebacks and/or guaranteeing lesser quality debt."</i> Who pays for that? Does it come off the top of our next war budget for Irag/Afghan fiasco? <i>Otherwise, this is a...

<i>"Nothing has changed at all."</i> That's very true. Not much has changed... except that reality has finally hit the market square on. Inflation is rampant. Unless you back out food & energy from your actual budget, inflation is crippling lower and middle class. There's your answer to...

<i>"Austin, why did you stop trading the ER2? I still find it to be more trendy than the ES although trading more than 5 to 10 cts begs for slippage"</i> The only advantage ER had over ES for me was $$ range of swings. Today that relationship is evident, with ES in a 10pt range ($500 per...

<i>"Without a doubt this is is the best time 2 buy ever. The market is stronger thasn ever."</i> On its face that statement is widely viewed as asnine and ignorant, to be blunt. The market obviously isn't stronger than ever or volume wouldn't be crushing to the downside. Looking at a...

First let me reiterate that there's nothing wrong with trading the YM. I would do it, if necessary. My view is it's the kid brother of ES in every way. As for "capturing" the bid/ask spread in YM versus ES, that is a pure fallacy. In order to realize $$ benefit from entering limit orders at...

<i>"Miles and miles and miles of NO RISKTM!!!"</i> Is there any risk yet? :eek: *bump*

<i>"every dingdong retail trader (who overwhelmingly are losing traders) fails to do the basic research, the basic back (and forward testing) etc. that is more likely to result in positive expectancy."</i> I guess that pretty much sums it up then. +15pt ($75 per trade?) YM scalps must be what...

<i>"the ES and YM are VERY closely correlated. thus, there is no advantage in trading ES vs. YM yet several advantages trading YM (better spread)"</i> Commonly flawed logic. The spread means zilch, unless a trader always exits at the extreme end of every move. Otherwise, the spread is...

<i>"imo, unless you trade some pretty big size, the ES is an inferior instrument for intraday trading - a subject i have gone over endlessly"</i> Off topic: you begun the statement with "imo" which everyone has right to. That said, I don't see where any $$ advantage lies in YM versus ES...

<i>"i have never (literally) seen a better day for trading index futures"</i> Well, I've seen at least ten sessions easier than today to trade eminis since July 1st. It was an ok day, but not stellar. The difference between this one and others was backing & filling. Every swing was a...

<i>"Here's my life. How about yours???"</i> How much hi-test does $10 buy for your winter car there? The way markets are flying all around lately, a serious trader wouldn't walk across the street to pick up $10 during active trading hours. I admire you for working so long & hard to...

07-28-07 06:03 PM (clip) <i>... Within two - three sessions, that entire squeeze was erased and lower lows result. That's how bear markets unfold... violence and volatility going both ways. We have no idea if this is merely another quick correction or an extended decline into year's end...

<i>"so, any words of wisdom, from those who are making the most of the volatility, would be most appreciated."</i> Unless I'm reading wrong, the OP asked anyone who has success to share some advice. OP stated they currently trade the ER... where does it ask for advice specific to trading the...

<i>"Conclusion, if you can't hang with ER2, go to the sideline or find something else."</i> Mark, I'm not disparaging the ER at all. It's been very good to me for a long while. That said, there is no advantage of trading ER over ES any more. The only edge ER used to have is 2x $$ range...

<i>"clearly, i am doing something wrong- hopefully some of those managing this environment well will chime in (not looking for someone's edge, just how they're managing risk in a way that isn't killing gains)."</i> A few things... #1: From mid-2004 thru middle of last month, I was an ER...