ES Journal Archive (2009 - 2010)

[optionsnoob7]

Quote from Panama:

The trouble with the market right here is that damn short bus trying to get on the boat. They're on, and trying to swamp the damn thing but they don't know that bus riders are not allowed on the voyage. Do they think it's a ferry!

The short bus is parked on the dock and the loaded ship has undocked. The only way in is to jump on the water and swim. That would be funny, since the water is full of sharks.

 

[volente_00]

Quote from Pholeuon:

On my charts ES broke the bottom of uptrend channel but SPY is on the bottom. I do not see bulls case definitely lost if we will not go down. Problem is that we can not close gap and stay in channel.
There will be another possible bottom of practically horizontal channel at 109.50 SPY. If we break it we go down, I guess to 1050 approximately. If we can end today above 1114 I think bulls are saved.

down to 1050-70 sets up a sweet IHS

 

[Speciaul_K]

Look for a close below 8012 per chart attached

 

[FirstDegree]

http://www.youtube.com/watch?v=B0G1fg-vNxs

Top Step:

Best information I got out of this:

They are doubtful that price will break through the 1112.50 area. If price breaks through the low of the day, they are seeing 1099 as the next area, with some stops below 1098.

They recommend selling in the 1111 area.

 

[optionsnoob7]

Stupid question: Do you REALLY think the people selling half a million contracts plus on the number and the bounce are content with a few points profit or maybe they have more to sell?.

 

[Picaso]

Quote from optionsnoob7:

Stupid question: Do you REALLY think the people selling half a million contracts plus on the number and the bounce are content with a few points profit or maybe they have more to sell?.

Additional stupid question: what about the people who bought that half a million cars?

 

[optionsnoob7]

Quote from Picaso:

Additional stupid question: what about the people who bought that half a million cars?

Exactly. Who bought those?. Sitting ducks, and stupid algos, of course.

 

[Eko_Trader]

Quote from Eko_Trader:


Holding the 05.50

Pulled an "Airwave". Out at 08.50, waiting for the next move.

 

[Picaso]

Quote from optionsnoob7:

Exactly. Who bought those?. Sitting ducks, and stupid algos, of course.

Maybe, but isn't that roughly the same song we've been listening to since the S&P was trading in the 600's?

Have we not gone up about 500 points on <i>rising</i>, not falling, unemployment?

I don't particularly care whether we go up or down and I'm happy for all the people making money, either long or short.

I just fail to understand how come that every time somebody takes a view opposite to the flavor of the day, he is a moron, and yet, when the market does precisely that, then either absolute silence (never, "hey, I got that one wrong, nice trade bulls/bears") or "the market is manipulated, I can't believe this", blah, blah, blah.

(Not meaning you or anyone in particular)

 

[Panama]

Quote from Picaso:

Additional stupid question: what about the people who bought that half a million cars?

You know, the 800 lb. gorillas play more then one hand, and only one hand has to win. When you're the gorilla you'll have the answers to stupid questions. Until then, don't let the gorilla play your hand.

Have you been played on wheat lately?