ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Hey, this was Romy's last post to date on ET(05/04). What's going on?--Vacation?
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I am trying to live by my new years resolution of trying to be more of a lurker.
 
Quote from romik:

I am trying to live by my new years resolution of trying to be more of a lurker.
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Going from over 10 posts a day to 0, now thats what I call going cold turkey.



:D
 
I don't believe that we have come this far only to stop short of the all time SP/ES high in the 1570's. 1574.12 I think, but I would have to look back
 
Quote from Spectre2007:

only 4 points or so left, for all time high.
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Could be on the cash market, but I think continuation futures was in the 1570's. I'd have to look back at a chart------can't do that just now.
 
I show a high for the S&P 500 index of 1552.87 on 3/24/2000 (but the high close was 1527.46) vs Friday's close of 1522.75.

That must have been some day, a record close but 25 points off the high of the day! So they do wave a big red flag to signal a market top after all :eek:
 
Quote from Buy1Sell2:

Selling tails and Buying Tails are an important part of my analysis. Some folks call them needles. It's just another part of the picture that I like the market to paint for me. --An important part and they are more significant and powerful the longer the timeframe. :)
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Yes agreed. What may also interest you is that gaps and single prints (MP terminology) are also powerful signals. Gaps up or down are characterized as "invisible tails".. In terms of "what do I do with that info?", I think of it like this;

Gaps up for instance indicate a significant supported move by participants with an agenda (mark it up). Obviously they have the size to influence the market at least on a temporary basis. To the extent that this movement attracts "other" timeframe participants (follow-through) you have "responsive" buying and that could mean a significant move.

If one the other hand a gap doesn't attract responsive buying from other timeframe particpants, you (I know) know that the big boys are not in the market and I can safely fade that move, ONCE I SEE EVIDENCE OF A REVERSAL.....

There are a couple of ways to know when a market is rolling over on you, MP is just one...I use volume (block volume, bid/ask volume, and $ADD as well) and other data, but my message is wait to see it first (you have plenty of time) THEN react.

The reason I say you have plenty of time is that price acts "funny" in these areas. What Apex calls areas of confluence, are areas where in the past price has consolidated. If you want to trade consistently and with some confidence, you have to learn to identify these consolidations and one of the ways to do so is to learn to identify areas where price "slows down". When I see these areas, I look to get favorable entry position. When I am filled I look for acceration to signal that I am on the right side. Once you "get this" you can know early on whether you are right or wrong and cut losers quickly.

My good deed for the day.
Steve
 
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