ES Journal - 2019/2020

Laissez Faire · Nov 13, 2019

This market has had every chance to sell off for the last week or two - yet it won't. It won't even retrace.

Does that tell us anything? Or not?

wave · Nov 13, 2019

Laissez Faire said:
This market has had every chance to sell off for the last week or two - yet it won't. It won't even retrace.

Does that tell us anything? Or not?

Yes, there's some Wyckoffian distribution in play...

Buy1Sell2 · Nov 13, 2019

Laissez Faire said:
This market has had every chance to sell off for the last week or two - yet it won't. It won't even retrace.

Does that tell us anything? Or not?

Buy1Sell2 said:
Massive bull market that began Nov 1 rages on here. We had a little resistance at 3100. I expect that to be broken through and a new floor established there soon. ---Ish

Laissez Faire · Nov 13, 2019

wave said:
Yes, there's some Wyckoffian distribution in play...

I don't know much about that. And I start fearing I'll gain a reputation as a perma-bull now, which I'm not.

But this market is going higher for now. We're up 365 % bottom to top. What's another 100 points? Just a measly 3,2 % or so.

I'll rather risk missing the exact top and enter a short a litte late, instead of selling into strength on a rising market.

Was there ever a top these years worth selling that didn't offer a second chance to enter short? I think not.

syswizard · Nov 13, 2019

Laissez Faire said:
This market has had every chance to sell off for the last week or two - yet it won't. It won't even retrace.
Does that tell us anything? Or not?

Yes. Both Trump trade wars put and Fed put are in-the-money. Market won't go down until these expire.

NQurious · Nov 13, 2019

wave said:
Wyckoffian distribution

Wyckoff just rolled in his grave.

schizo · Nov 13, 2019

Laissez Faire said:
I don't know much about that. And I start fearing I'll gain a reputation as a perma-bull now, which I'm not.

But this market is going higher for now. We're up 365 % bottom to top. What's another 100 points? Just a measly 3,2 % or so.

I'll rather risk missing the exact top and enter a short a litte late, instead of selling into strength on a rising market.

Was there ever a top these years worth selling that didn't offer a second chance to enter short? I think not.

As I've always said, do whatever that will make you money. If you believe the market will head higher, then buy. Otherwise, sell. Why over-analyze? Why makes it so difficult?

NQurious · Nov 13, 2019

Laissez Faire said:
We're up 365 % bottom to top.

The Obama Bull has been a wonder to behold.

Laissez Faire · Nov 14, 2019

schizo said:
As I've always said, do whatever that will make you money. If you believe the market will head higher, then buy. Otherwise, sell. Why over-analyze? Why makes it so difficult?

Actually, I was not seeking advice. If anything, I was giving it.

Handle123 · Nov 14, 2019

Am not fundamentalist, don't have opinions they seldom ever correct, automation went short/hedged Indexes on Wednesday and stocks open profits got hedged. All cause of topping pattern of small breaks on dailies and H&S on 60 minute bars. I have lost count how many times this has been done in last 2.5 years, one reason it hedged cause have terrible profitable percentages of underlying, but overall it is just ok while waiting. Have lost excitement and despair so long ago, don't even remember decade when I gave a poop about direction, that's when you know you happy with one's method.