ES Journal - 2019/2020

NQurious · Apr 16, 2019

I wish I had posted it here last night but I just had a feeling that I'd awake and see 2919 ESM this morning. No technical reason, just a feeling I had. Probably because why not let Europe enjoy the other ten points of what should have been yesterday's 20 point rally off the lows, right?

I'm wondering if Notre Dame wasn't the work of a disgruntled ES Day Trader ... :sneaky:

In all seriousness, however, I too find the loss yesterday very sad. I am happy that I had a chance to visit Notre Dame and experience it before this fire.

Rickshaw Man · Apr 16, 2019

The ole gap up on the cash open...Half of the YTD gains come from gaps at the open. Thanks to the magic futures.

Rickshaw Man · Apr 16, 2019

New headlines will read.....Stock surpass there old highs from 2018 and make fresh highs for 2019. Many on wall street are calling for a melt up in stocks...DON'T GET LEFT BEHIND.

speedo · Apr 16, 2019

"Bear market" keeps rolling along...

vanzandt · Apr 16, 2019

Buy1Sell2 said:
Staying short on this trade.

Well Izzy... even though IYT (the $DJT ETF) does not appear to want to gap up this morning as I mentioned it wouldn't yesterday, the market doesn't seem to care at the moment so you're getting no macro help. As Rickshaw pointed out, "melt-up" seems to be the new catch-phrase being bandied about by the various financial media outlets today. Melt up. I love it.
One must wonder... is it time for you to adjust the outra-day stop in the big account or is the downtrend still intact?

NQurious · Apr 16, 2019

49 up days 26 down days since 12/24 low ... of the down days, only 7 made a new 3 day low ... meaning down days are not liquidations but pauses in demand, and three of those occurred during the early March pullback. The other 21 "down" days were mere consolidations of the previous days up trend.

There has been accumulation with nary a sign of distribution.

volente_00 · Apr 16, 2019

Who is ready to STFT with me ?

volente_00 · Apr 16, 2019

I'll be going gap to gap

NQurious · Apr 16, 2019

volente_00 said:
Who is ready to STFT with me ?

B1 beat you to it ... he has sold the previous 4 or four tops, as a matter of fact.

None of which were tops, surprisingly

. But he sold 'em.

speedo · Apr 16, 2019

vanzandt said:
Well Izzy... even though IYT (the $DJT ETF) does not appear to want to gap up this morning as I mentioned it wouldn't yesterday, the market doesn't seem to care at the moment so you're getting no macro help. As Rickshaw pointed out, "melt-up" seems to be the new catch-phrase being bandied about by the various financial media outlets today. Melt up. I love it.
One must wonder... is it time for you to adjust the outra-day stop in the big account or is the downtrend still intact?

First heard the term used by Gartman about 4 or 5 years ago.