ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Curious why people are shorting when the market is so near a breakout at 930? You know the market will at least test 930 so why not wait for that test before shorting?this is exactly why the mkt won't stay down as so many people trying to short tops
Thats not the same.14k was just one of many prices in the long line of new highs. buying at 666 was just a lucky guess as there were no indicators that said it was a low. 930 ish a huge 200 ma target and will act like a magnet. I guess i'm biased as i bought 20 es contracts at 913 on the ramp friday. looking for 935-950 this week.
LOLQuote from saliva:
I thought of the same thing when the Dow was trading at 14,000. I also pondered the same ambiguous question when the S&P came crashing down to the devil's den at 666. Why the hell didn't they just buy at 14,000 and sell like made at 666?
(or maybe
??)
You don't need to call your contracts, and there is a set protocol for calling a trade on he thread.
Everyone has their methodology (and their bias) when trading. I don't know if you've noticed, but most of the traders on this thread love to short the uptrends and buy the downtrends.
That's because 66% of the time they will be correct using that methodology ... and the other 33% of the time they'll get hosed ... at least for a little while.
But the market moves in cycles, both Bull & Bear, and this bull run has pretty much gut checked a lot of Bears (especially Friday's action), so we're going to catch another Bear cycle soon, trust me on that one, but I have no idea how far or how fast it will run.
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