ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

notice how sentiment shift... was done in just 1 day.. now people are looking to get long.. the market.. the MM's can distribute at the highs the quantities used to push the market up...through the stops..

the MM's have no choice but to play games like this. When the market is heavily short/on retail end. The MM's are the bagholders. So they had little choice but to propel the market higher, forcing retail to cover at BE or loss on short positions. Now retail is looking to get long, and MM's can freely distribute with minimal slippage.

essentially forcing retail to buy the highs and sell lows. We aren't even in the grips of winter yet. The economy and bond market signaling... slow growth...sure.. excellent conditions for profit growth, the underlying basis of the equity market(sarcasm).

fucking talking heads..telling public to buy this dogshit. How do trading divisions of investment banks make money?...by stealing your money.

so they basically act like specialists, privy to information.
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That's why studying Wyckoff and other old timers is critical for success in this business.

It wasn't until I understood the concepts of accumulation, distribution, strong hands and weak hands, marking up and marking down, and so forth, that I became consistently profitable.
 
Quote from smilingsynic:

That's why studying Wyckoff and other old timers is critical for success in this business.

It wasn't until I understood the concepts of accumulation, distribution, strong hands and weak hands, marking up and marking down, and so forth, that I became consistently profitable.
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Hey Vertigo, that's the chess analogy, great post SS
 
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