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ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Mutual funds lowest cash levels since 2007. I think the Fed just wired goldman 100b to keep the party going.
It's feels risky sometimes but you can't help but buy the dips if you want to make money in this kind of market.
Quote from [Proximo]:
Shorts have been castrated who can blame them :}
No one wants to get short ::::::::}
A bunch of them tried to get short just ahead of the low today - see my earlier post. This is why we have been squeezed up again.
Always happens at the beginning and end of a bull market...early shorts.
You and I can read the turns fast enough to get away with small shorts; people who lose tend not to read where to get out, even if their initial trade was "right".
Quote from ksonsinc:
Does any one see a head and shoulder right here
In es ?
Looks like it is voided.
We are extended and close to a r10 area intraday
but until we get a greater than 2 point pullback, the 9/18 still says up similiar to april 8
Plus we are sitting near previous resistance that will probably now act as support.
Of course earnings can change all of this after the close.
Quote from ksonsinc:
Does any one see a head and shoulder right here
What I see is that the large interests have intervened in this market long enough to support it and throw out eager bears. We've run the stops at the high and participation on both sides of the market is now extremely low. This is not a condition I would be wanting to trade in, simply because the likelihood of decent opportunities appearing is very low. (and much less would I be wanting to short just yet, seeing how the market was supported today)
The only opportunities at the moment seem to be quick buys, if you can time them.
Whether I see something which may or may not look like a chart pattern does not factor in. Think about who is in the market, more importantly today who is not in the market, and how this effects future likely direction, magnitude, and volume levels.
The market has been squeezed back up to just below 52 week highs before post-market news...I'm not standing in front of that.
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