ES Journal Archive (2009 - 2010)

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Interesting day continues. Attached is 3Mo Daily ES bars overlay with EURUSD "squiggly line". Pattern is interesting. Neither leads the other as I can tell, but then again I don't know squat about trading, but how to lose money. I see opportunities to play one in juxtaposition with the other as setups appear. The setups in one can assist in trading the other. Anyway, I thought the three month chart pattern was interesting. I still see EURUSD can either take off north or fail strong from here so no direction. Quick one hour lunch EURUSD failure and partial recovery doesn't tell me much, other than stop run.
 

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Quote from Lawrence Chan:

That is their inventories. What they are going to do with the inventory is the key to the next move.

With enough underlying on hand, you can then "lend" them to the proprietary arms for daytrading (oops, market making) purpose. The inventory will earn the lending fees. The proprietary arm will earn the hustle (oops, market making) fees.

Most MM firms can only hold enough inventory for 1 to several stocks for market making purpose. From what you posted, GS is making market on all index components.
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If you need proof of the manipulative nature of "their" inventory, take a look at the latest upswing from 1105 to 1111.00. Absolutely insane.
 
Quote from flatron:

gotta try a long here at 1107.5 Pullback in a relentless bull market! stop at 1100
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out here +3.

Quote from Kovacs:

Where are all the regulars? Have they formed their own subcult in IRC?
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Not sure which regulars you mean, but I was told that all of the good traders who posted here a few months back with actual calls like saliva, lurefo, pocketmoney,lexcorp,ilveoptions (cant think of anymore at the moment, i tihnk im right on them tho) all trade in a skype room together.
 
Daytrading has become real boring lately...I dont like to trade when eminis only go one direction...this market is so strongly skewed to the upside that it's getting ridiculous...

We are trying to fix an old bubble by means of a new bubble...great strategy...

I bear no interest in the markets undergoing a big correction other than making daytrading more fun. It's tough to daytrade when markets are so biased on one direction.
 
Quote from ASusilovic:

If you need proof of the manipulative nature of "their" inventory, take a look at the latest upswing from 1105 to 1111.00. Absolutely insane.
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EURUSD does not go back up like ES.

A mkt that they do not have control ... yet.
 
Quote from Lawrence Chan:

EURUSD does not go back up like ES.

A mkt that they do not have control ... yet.
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Maybe because other central banks - unlike Bernanke and Obama - are really worried about dollar weakness and try to slow down its fall.
 
Quote from Lawrence Chan:

EURUSD does not go back up like ES.

A mkt that they do not have control ... yet.
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Tricky one, sure is a patience tester.

Weekly looks very extended. Daily chart points to a possible breakout, perhaps a headfake.

ImPO one can short all Daily bearish hammers & have stops few pips above bar's Hi. Reward will offset losses.
 
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