ES Journal Archive (2009 - 2010)

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Quote from austinp:

Monday's +45pt gap-up open wiped out the same shorts. Who is left to buy? No one in ES today... TF ran straight up the ladder, ES looked like Ron Jeremy without viagara for two days straight.

Or limp, as it were

Time will tell which way next. Any breaking news shock to these tapes sends it right back down to 1100 handle. Absence of malice in breaking news fashion? Chop-spurt-bleed to 1200s again.
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In complete agreement with you, but I think the gap above is the real magnet. The market could have easily sold off on the MS news and the fact that financials traded like crap today. I'll sound like Art Cashin and say tomorrow will tell the tale

Lastly, the fact that TF (small caps) were rolling on steroids today showed that this is simply liquidity coming into the market again. We all know how that plays out; We painfully grind higher.
 
Quote from volente_00:

I'd be willing to bet 90% of those who were long got stopped/forced/panicked out of the market on the 6 th.

After than panic spike, who is left to sell ?
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The panic was way too fast to be sold into, in fact most people didn't even see the panic, thats the issue lol.

Panics need to stay at the lows, and hurt for most people for a long time till they puke it out.
 
dont know about the negativity that came i n to the journal,flipper and the new recycled guy,but every time we see it,the market reverses,whenever they feel like talking clothesline aunt bea, they should get short or flat.......,technically we should have hit 74,there may have been a crowd up there sharing the buy orders....we'll see tommorrow
 
I think we are close to the top on equities, bottom for EURUSD, I don't think the 2 can operate in the same direction.

Heres how its going to play out tomorrow morning and afterhours:

1. ES will rally up a bit more afterhours
2. ES will open with a gap up , and spike up a little
3. ES should reverse. And start coming down a bit


** edit no shorting tomorrow, would be too soon, recycling patterns in my head, realized that would be too soon .
 
Quote from Eko_Trader:

In complete agreement with you, but I think the gap above is the real magnet. The market could have easily sold off on the MS news and the fact that financials traded like crap today. I'll sound like Art Cashin and say tomorrow will tell the tale

Lastly, the fact that TF (small caps) were rolling on steroids today showed that this is simply liquidity coming into the market again. We all know how that plays out; We painfully grind higher.
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stocks will chop and grind higher on nil volume as usual, unless someone burps something more about Greece, Euro nations risk, etc and then the markets come down hard on heavy volume.

absence of bearish news = upwards drift and plenty of HFT chop
breaking bearish news = smashed tapes and heavy selling

our job is to babysit the screens and see which way the news will push :)
 
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