ES Journal - 2013

Seeing some decent volume these past couple bars, but not enough to turn it green.

We are up against an upward sloping tl and a strong res band. We'll see if demboyz can pull a rabbit and get this green before a dozen point roll-off.
 
Quote from mastacoli71:

absolutely nothing. i agree with you 110%. unlimited printing does not work, Japan proved that. not sure why Bernanke thinks it will be diff for the US. deleveraging is a painful process. you can either peel it off slowly (alla Bernanke) or you can rip it off; either way it gets one to the same place, the wound is still.

what u see in the media is all fluff, continued grind higher has very low volume. will we wake up one day from an unexpected geopolitical event where the mkt is down double digit %'s, nobody knows but it is possible.

very strange that mkt is so calm with sequesters due to kick in within a few weeks. sure they may kick can down the road again.
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Yea the can will be kicked down the road again, its almost a certainty. Investors have become so desensitized by the drama at Washington that they simply dont care about it and dont want to panic over it anymore. Traders cant induce a correction by shorting stocks because shorts have to cover their positions, the market will only tank when investors become fearful and sell their stocks.

This low volatility grind will most probably continue for quite a while...
 
Quote from gmst:

got long at 1512 and bidding 1 more car at 1508.

I think if we see 1505ish level, it will be a great level to go long for 15-20 pt.
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closed at 1518. Thinking of getting short.

EDIT: Short at 1518.25
 
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