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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from storm121:
I think a lot of shorts got hit hard today.many of them blew their trading accts, never to return again.
bulls are in charge from here on out.looking for higher prices and better reports.
2 good stocks to buy now are YGE and JASO.
blackguard
LOL! You post this everyday. You're too funny, man.
Quote from Leonidas:
Wow, that's some tricky action right there. Trends down, congests, then they rip it back long, it congests again, looks like it's breaking back long and then they rip it all the way back into congestion and then rip it long again. Nasty nasty nasty.
On choppy, essentially newsless days in which traders are waiting for imminent reports, breakouts from congestion often go back into congestion. A good low risk place to get on is to wait for the breakout, and then wait for a pullback close enough to the stop.
For instance, if the market does a 1-2-3 bottom, after the three, a choppy market will often go back to the high of the 1. Buy at high of 1, and put stop at bottom of 2. It works on trendless days because traders put their stops at breakeven, and that's where the market tends to gravitate--where traders put their stops.
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