Another huge intraday range today

Restricted · May 7, 2007

Quote from saxon22:

Afternoon session should be interesting. Looks like time for a minor correction.

Hahaha. You are funny, bro.

saxon22 · May 7, 2007

Quote from Restricted:

Hahaha. You are funny, bro.

So far the market cannot go through 1516 and has been struggling since the morning. We will see. One way or another come 3:30 the market will move.

Arnie · May 7, 2007

More likley we get a slow afternoon grind higher

Restricted · May 7, 2007

Quote from Arnie:

More likley we get a slow afternoon grind higher

Yep, same as every other day that ends in "y".

saxon22 · May 7, 2007

Well the ES has not broken 1515.25 since 12 noon. That is more than 150 minutes of hitting it but not penetrating it. Therefore, some profit taking should occur. Something big???? I doubt it, but like a stated before, a minor correction should hit the market before 4:00. TIME WILL TELL!

Ezekiel · May 7, 2007

It's the British and their 'Bank' Holiday

Charly · May 7, 2007

Quote from whitster:

as a trader, i don't care, nor should you, whether its "exciting" or not

the point is to make money

if your methodology cannot make $$$ on days like today, you need to study the markets more.

opportunity is opportunity

Let them know how YOU do it unless you
have been joking?

makloda · May 7, 2007

I did my homework and now found an excellent strategy that works well in the current market environment of steady small daily gains in the indexes.

Every day, I just keep short selling ES puts with a strike 5 points OTM. Actually zero risk for the seller since we go up around 0.5-1.0% every week like clockwork. Easy money and there are plenty of morons that still have bids out there that I just keep hitting, thanks for the free $$$.

Lucrum · May 7, 2007

Quote from saxon22:

... That is more than 150 minutes of hitting it but not penetrating it...

Damn, that sounds like some really "tight" resistance. Try hitting it harder.

S2007S · May 7, 2007

this is extremely boring, amazing how a few key words at 2:15pm on wednesday can move a market. Why is the market waiting 2 days before making its move, everyone knows its upon wednesday at 2:16pm. Its going to be an even bigger up day than the last fed meeting when the dow surged over 150 points. I think the dow is good for a 200-300 point gain on wednesday afternoon.