ES Journal Archive (2009 - 2010)

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Quote from flipflopper:

I wonder what happened to that bull?
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Yeah, what happened, tell me about it! :)

I was as usual correct:

Quote from Pekelo:

I have a feeling that we are done with the gapclosing efforts. I wouldn't be surprized if we leave that 3 pts cashgap behind....
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The logic behind that feeling was:

1. The 1st gap was the Fr-Mo gap, and as we go farer and farer in time the probability of the 2nd gapclose decreases. We were already 4 days away.
2. We already had another 2nd gap that played out as expected, even if premarket.
3. We actually made a decent try at closing, and only 3 points left on the cash.

Now of course, today's gap should be looked at as a new 1st gap, so tonight every upmove should be shorted...
 
Quote from Pekelo:

Yeah, what happened, tell me about it! :)

I was as usual correct:



The logic behind that feeling was:

1. The 1st gap was the Fr-Mo gap, and as we go farer and farer in time the probability of the 2nd gapclose decreases. We were already 4 days away.
2. We already had another 2nd gap that played out as expected, even if premarket.
3. We actually made a decent try at closing, and only 3 points left on the cash.

Now of course, today's gap should be looked at as a new 1st gap, so tonight every upmove should be shorted...
More...

Triple gap up within 5 days is a classic exhaustion pattern across all commodities, an uptrend killer.

Does that works on S&P given government micro-management on it almost every day?

I don't know. =)
 
Quote from Lawrence Chan:

Triple gap up within 5 days is a classic exhaustion pattern across all commodities, an uptrend killer.

Does that works on S&P given government micro-management on it almost every day?

I don't know. =)
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Certainly I've seen up to quadrupies before, but not back to back triple whammy. This is unheard of. But you made a salient point. Why should all this even matter in this environment when there is so much in-your-face manipulation?
 
Quote from ammo:

covering a few here at 63
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Damn, I was about to say ya should hold on since I feel the trannies are about to shake their ass. I hear them moaning and groaning. Well, peace. :D
 
There is a dragon in AH that failed at 64 (the gap fill). H=7 so target would be 57. If we fill gap perfectly/barely and turn down this may be a good target to cover.
 
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