ES Journal Archive (2009 - 2010)

[pocketmoney]

Quote from pocketmoney:



Will get long again at 1174

and we're in

 

[Pholeuon]

He likes to trade against somebody whom he really loves.

Quote from NoDoji:

Why are you trading against yourself?

 

[volente_00]

Quote from ammo:

see cash testing and breaking 68 and testing 58 , or...exp so they can cause max pain and collect their monthly tithes and wait to dump monday,exp always a trip to the dentist

to much put interest open. 116-117


fwiw the high/low for week of OE often is made on weds.

 

[ammo]

Quote from tortoise:

i'm quite certain these olde timey contrarian rules no longer apply when you're betting against the fed ...

,this comment is not aimed at you tortoise......market never changes,just new or refeshed lies,the fed is rumoring about qe2,the mrkt is running up on the rumor, whether or not they waste another trillion and cxl soc sec,pensions,and healthcare,cook all the old people and start serving soylent green at welfare lines,is still up in the air,it's possible they won't do qe2,right now its just kool aid...they kickstarted a rally with that rumor..whats the other one..oh ya..the repubs will take over the house and senate and things will get miraculously better...and last but not least , the crop report,...buy mortimer, buy

 

[JSSPMK]

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[W4rl0ck]

A new round of flying monkey operations has already been scheduled by Kommissar Benny into US elections.

Just FYI.

 

[JSSPMK]

Tommymouse,

Hope you managed Ok with that trade, just wanted to post a couple of pictures. I mentioned Weekly at the time, I am sure you will be able to decypher without my assistance. First is NDX weekly & followed by also Weekly TICK.

 

[ammo]

Quote from W4rl0ck:

A new round of flying monkey operations has already been scheduled by Kommissar Benny into US elections.

Just FYI.

sceduled or implemented,they've left themselves an out with hoenig,they had the option to ask him to be silent and didn't http://www.bloomberg.com/news/2010-...burgh-doesn-t-comment-on-monetary-policy.html 3rd paragraph "may act before long"

 

[ammo]

Quote from ammo:

add 79,offer 81 avg 73 bid 72 for reduce

lower reduce bid to 67

 

[tortoise]

Quote from ammo:

,this comment is not aimed at you tortoise......market never changes,just new or refeshed lies,the fed is rumoring about qe2,the mrkt is running up on the rumor, whether or not they waste another trillion and cxl soc sec,pensions,and healthcare,cook all the old people and start serving soylent green at welfare lines,is still up in the air,it's possible they won't do qe2,right now its just kool aid...they kickstarted a rally with that rumor..whats the other one..oh ya..the repubs will take over the house and senate and things will get miraculously better...and last but not least , the crop report,...buy mortimer, buy

I agree. BUT ...

This market is different: It is a tool of the Fed and Treasury to an unprecedented degree. That's why this market will go where D.C. wants it to go, when it wants it there.

Wave's arguments about the 1200 level, Volente's theories about the impact of market makers during opex week, yada-yada ... charming, quaint, utterly irrelevent. The Fed is oblivious to some "trader effect" as it applies to the 1200 level, or any other level. The Fed couldn't give a shit about some SPY option market maker's need to unwind his front-month puts.

This market can be traded, but first you'll need to forget everything you've learned about price discovery, the auction process, gaps, price patterns, max pain, etc., etc.

No, you gotta read the price action, go with the flow, enjoy the ride.

'Til it's over.