ES Journal Archive (2006 - 2008)

[volente_00]

Quote from Specterx:

Hmm... almost a 100 point rally in 45 minutes...

no short covering there at all. The problem with bear markets is the rallies are so brutal that neither the shorts or the longs win in the end.

Ask yourself what has changed in the last 45 minutes to justify a 10% move in 40 minutes other than shorts locking in profits ?

Who is left to buy after the shorts cover ?

 

[volente_00]

Quote from wave:

10-10-08 01:47 AM
FYI,

The same system that flashed a crash coming back in July 07 just flashed a buy when we hit the 880s.

Major bounce coming for sure over the next week.

Was this the same system that less than a month ago said we would go from 1150/1200 to 1500 ?

 

[BoyBrutus]

Quote from volente_00:

no short covering there at all. The problem with bear markets is the rallies are so brutal that neither the shorts or the longs win in the end.

Ask yourself what has changed in the last 45 minutes to justify a 10% move in 40 minutes other than shorts locking in profits ?

Who is left to buy after the shorts cover ?

I guess they were asking the same question in 98, and every other low. How is anyone to know, just follow the big boys.

 

[Pholeuon]

Do you see how perfectly we sit in channel even in this mess? The blue line I made on Monday.
Until we stay bellow yellow line we are still in channel. and there is one red above it - that was top of the channel in begin.

 

[volente_00]

Quote from BoyBrutus:

I guess they were asking the same question in 98, and every other low. How is anyone to know, just follow the big boys.

Ask yourself why were the big boys selling into a 80 point parabolic spike this morning ?

The squeezes are used to distribute.

 

[Pholeuon]

1 tick chart - we want go lower fo today.

But the trend was not broken. I am afraid that there we will continue down next week.

 

[newguy05]

well at least we closed above the 870 level....

 

[BoyBrutus]

Quote from volente_00:

Ask yourself why were the big boys selling into a 80 point parabolic spike this morning ?

The squeezes are used to distribute.

We all draw our own conclusions on volume analysis, no point debating it.

My point was more that the start of every 'bull leg' climbs an enormous wall of worry, there is no perceivable logic at that point.

ie after 911 coming down of the dot com bubble who would have thought the market would rally so strongly for 5 months?

 

[pulsescan]

The dow has another 200 - 800 points lower to go before we bounce. We could see Dow 7000 or 6000!
Strong support at those levels.

 

[kamek]

next week if ur a real trader ur going to be broke or rich...i already have a job lined up just in case, lol. i think we will "potentially" rally hard on friday morning cause thats when the big boys have more bang for they buck (opt ex) we will see tho.