ER2 has topped?

Quote from Mike805:

I agree. I went short into the close. My decision was based on what appeared to be artificial price inflation, i.e. the moves up today we're spiking on low volume and no follow through. My stop is tight, at 770 since this is a discretionary trade, not based on technicals or price points.

Mike
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Covered at 768 for a small loss. Trade wasn't working out...
 
Quote from dealer:

Before walking out the door, I had a quick look at intra-week patterns. Since start of the year Wednesdays have tended to be bullish. So I have just covered my short for a piddly 1 point. Prefer to sell into strength tomorrow. And if we don't see strength then I'll be looking to sell breaks.

Off to the pub to spend my one point.....
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I haven't tested these but recently I came across these biases posted (by Art Collins) in another thread you might find interesting (if you haven't already)....


http://www.elitetrader.com/vb/showthread.php?s=&threadid=61477&perpage=6&pagenumber=23
 
Now that I look at the 5 min, it maybe we have some good upside today - possibly towards yesterday's high. Going to wait and see what happens, 77000 seems like a key number to break.

Also, the NQ is looking fairly bullish this morning...
 
Quote from lolo24ca:

WOW , WHAT A NICE BOUNCE FROM THE DAILY S1.....:)
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Jeeezz what a day so far,

Testing 770 right now. Just made back my morning losses and then some...

Just goes to show that anything can happen at anytime....

Mike
 
Quote from Mike805:

Jeeezz what a day so far,

Testing 770 right now. Just made back my morning losses and then some...

Just goes to show that anything can happen at anytime....

Mike
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I am somewhat impressed by this market particularly since the beginning of the year. Seems all intraday selloffs are shrugged off and then the churn begins to raise it to a new level. There were so many days similar to today that I now have come to expect it; however I have a hard time buying into any dip with bearish divergences and signals abound. At the same time, the markets don't seem to go anywhere too fast either, in any direction. I think this is a shorts' nightmare. Only consolation for the bears is that higher the prices go, better levels to get short for the coming selloff. So I wait to sell tops with a pre-defined risk level. :D
 
i'm gonna go off subject here for a little bit here...I've been on ET for a while now, and there's a lot of crap here. But honest to God, this has to be one of the best threads on ET. It's informative , and everybody gives their opinions on the market in very respectful way, and most importanly no ASSHOLES (yet) . Let's keep it up :D
 
Quote from EqtTrdr:

and as usual.. we go back up on 1/2 the volume we went down...
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congrats to all who play new lod on index = super duper buy signal$$

amazing price action.. really weird
 
Well,,,,,that was a nice flurry of activity (ES, NQ especially) between 14:17 and 14:21cst.

I have a sell order in at 774. 25mins to go. Today I actually WANT to see a ramp-up into the close :D
 
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