ES Journal Archive (2009 - 2010)

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Pekelo

Why do you still feel the pattern has triggered even if it didn't meet your rules?

I know you have lots of experience with this pattern so I'd like to hear why you still feel as if it had touched the SMA.
 
unreal. Hard to imagine that we could make new highs today. market is insatiable. I'm running for the hills to fight another day once the hype is gone!!

This market is truly a marvel. I hope we hurry up and fill that Oct 08 gap.

It is so hard to go long at the highs on a day like today. They just kept it up there trapping shorts for another of countless squeezes.

I make money buying the lows then lose it every day shorting the highs.

One thing that makes me happy about this is knowing the markets will never change. Greed and fear will always reign supreme. Once you "figure out" the markets you never have to worry about your knowledge becoming obsolete!!

Good luck to everyone.
 
Quote from Lawrence Chan:

Or, finish what you think should have been done in the first place. =)

Huge gap below dragging NQ down.
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LC,

this is one of the most ridiculous market developments in the last 20 years. Internet bubble was one of them, but what's happening every day in ES and underlying is brazen, unscrupulous rip-off.
 
Quote from Pekelo:

Here it is. Height is exactly 60 points, the Failure should have been at the SMA 1052-54 (had we gona down, it would have been lower than on this chart). So add 60 points to that. I say 1111 because that is a funny number, and close to 1052+60... If we make it up to 1115, still good in my book...

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Good analysis. We just hit 91.


The Risk Free Return is less than 2%, so money manager are pileing back into stock.

In a normal year, I think that we would have seen a pull back by now, fill some of those gaps, but with the general skittishness and bear sentiment out there very high, I think most of the big houses that can pound down the market are afraid of doing so very much right now less they start a an avalanche that will bury them along with everyone else.
 
Quote from ASusilovic:

LC,

this is one of the most ridiculous market developments in the last 20 years. Internet bubble was one of them, but what's happening every day in ES and underlying is brazen, unscrupulous rip-off.
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Internet bubble was caused by momo traders without proper real-time margin monitoring.

Now is similar - some newly "converted" big banks use bots to push mkt higher for profit with no position size restriction.

It is going to end soon. Maybe as soon as tomorrow. =)
 
Quote from Lawrence Chan:

Internet bubble was caused by momo traders without proper real-time margin monitoring.

It is going to end soon. Maybe as soon as tomorrow. =)
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Do you really think this can end before we fill the 10/08 gap?
 
Quote from fseitun:

Why do you still feel the pattern has triggered even if it didn't meet your rules?
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1. Experience. If you check in the dragon thread, there are 2-3 examples like this, when the math doesn't add up but the target was reached according to the classic pattern.(counted from where the Failure should have been, not where it was)

2. I also recognize a BB breakout pattern and that gives app. the same target area before another pullback....(similar what happened today on the 5 mins chart between 12-12:30)
 
Quote from flipflopper:

Do you really think this can end before we fill the 10/08 gap?
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There is a reason why that may not get filled for now.

Remember this,

1100 or 900 first?

The key word is "first" =)
 
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