ES Journal Archive (2009 - 2010)

Panama · Jul 28, 2010

Quote from volente_00:

expected quicker follow thru on downside after blowing stops

I'm feelin a wave. Hope it's not a TDsunami, but the short bus is filled with freeloaders who won't hang on as the boat flips and rights itself again

half back= 10.5, the bears grab the railing; 12.5 they give up; 14.25 they get a sex change.

oraclewizard77 · Jul 28, 2010

Advances to Declines are pretty bearish so shorts not feeling any pain. Too much technical damage to long positions, no reports coming out to justify a reversal.

Quote from volente_00:

expected quicker follow thru on downside after blowing stops

shorts now trapped

tripper22 · Jul 28, 2010

Quote from volente_00:

expected quicker follow thru on downside after blowing stops

shorts now trapped

I am really enjoying this thread and learning a lot. Go easy on me guys if I have a dumb question or two.

Eko_Trader · Jul 28, 2010

Quote from volente_00:

shorts now trapped

This is funny. What exactly did you base that statement on?

volente_00 · Jul 28, 2010

Quote from oraclewizard77:

Advances to Declines are pretty bearish so shorts not feeling any pain. Too much technical damage to long positions, no reports coming out to justify a reversal.

no follow thru even after blowing stops indicates shorts lack conviction. long stops are blown, those who shorted breakdown are in, who is now left to bring new selling ?

Volume needs to confirm the down move, usually on a breakdown you will get a big bar triggering lots of program selling.

If volume does not confirm we are going to trade 08-09 again today.

oraclewizard77 · Jul 28, 2010

Vol will confirm after the fact. If we close negative today especially closer to the bottom, I expect fear selling on Wed. I am not expecting a major sell off today.

Quote from volente_00:

no follow thru even after blowing stops indicates shorts lack conviction. long stops are blown, those who shorted breakdown are in, who is now left to bring new selling ?

Volume needs to confirm the down move, usually on a breakdown you will get a big bar triggering lots of program selling.

If volume does not confirm we are going to trade 08-09 again today.

volente_00 · Jul 28, 2010

see if we get a breakdown with volume spike here

Michael.jstocks · Jul 28, 2010

long 1103

startraitor · Jul 28, 2010

Need to overcome the high volume accumulation area from Monday 10:00 am post news now. May not happen today the way they are pussyfooting around there.

volente_00 · Jul 28, 2010

Quote from oraclewizard77:

Vol will confirm after the fact. If we close negative today especially closer to the bottom, I expect fear selling on Wed. I am not expecting a major sell off today.

day has been low volume

If you want follow thru then volume has to confirm

I suspect we close higher than 03 today

edit

Descending triangle looks like we breakdown here on volume spike