exit 12.50, little concerned about the old lady here.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Below is a ES 405 minute RTH daily with a 2 period cumulative histogram average of $NYAD going back 103 periods from yesterday's close.; plus 1 standard deviation error bars of price.
Bears finally found value a whopping 14% below the value area low to start the rally. The signal was a continuation buy of the entire index on positive convergence, paired into the rally with 2 signals apiece as of close yesterday but today's open confirmed a continuation buy.
This last sell signal you'll note was a self-fulfilled prophecy caused by panic selling and/or a test of support of a legless area. Very few took their money out of the market from 950 initially. It was dumb money retail freaking out.
What do value investors like to do with dumb money? Right.
We were only 4% above value before the breakdown, and that's not value at all. All things being equal, reversion to the mean doesn't begin until, at least, 1035.
I still contend 980 is the next stop after this shake out.
I didn't trade it; timing with clueless retail trader freaks sucks. I'm still long from the bottom. I did however double up with BSDs at the bell this morning, though.
Two services I watch aim for 979 for a confirmed bottom. I know better.
But by all means, get those pikes!
Bears finally found value a whopping 14% below the value area low to start the rally. The signal was a continuation buy of the entire index on positive convergence, paired into the rally with 2 signals apiece as of close yesterday but today's open confirmed a continuation buy.
This last sell signal you'll note was a self-fulfilled prophecy caused by panic selling and/or a test of support of a legless area. Very few took their money out of the market from 950 initially. It was dumb money retail freaking out.
What do value investors like to do with dumb money? Right.
We were only 4% above value before the breakdown, and that's not value at all. All things being equal, reversion to the mean doesn't begin until, at least, 1035.
I still contend 980 is the next stop after this shake out.
I didn't trade it; timing with clueless retail trader freaks sucks. I'm still long from the bottom. I did however double up with BSDs at the bell this morning, though.
Two services I watch aim for 979 for a confirmed bottom. I know better.
But by all means, get those pikes!
small short 14, stop over 18,
STPPD 91475......that's it for the day...good trading all., if you are awake.
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