ES Journal Archive (2006 - 2008)

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Quote from tommymoose:

No probs :) All the noobs jump in front of the size thinking it will hold, then when it doesn't they're scrambling to cover their positions driving the price.

My discretionary trading has been going so much better recently just by understanding what suckers would do, and figuring out how to exploit it. Quite a good feeling.... although most of the time when I get this feeling I end up getting too brave and taking dumb trades. Actually recognizing that fact has done a good job of keeping me in check though haha.
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Good logic. I used to see this on the floor all the time. Large order to buy. All the locals sell to it. Someone offers lower after the large order is gone. The pit gets quiet all of a sudden, and everyone realizes the entire pit is short. LOL.

OldTrader
 
from oct to 6/22 that trendline came in at 23 ,it was support this morn, now res,there is a small whole on mp chart at 25 that could fill on close
 
there is some big kimosabi oil meeting this weekend with plenty of caviar,fine wine and belly dancers, when they are done patting each other on the back for having screwed us so well, they may raise the price of oil, why quit when you are having such a good time
 
Amazing how that 1324-26 level didn't hold. Thought it would bounce strongly off there... Got aggressively long there and fortunately got out for a tiny profit before the big drop.

You'd have to think the Dow has to touch it's March lows next week.
 
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