ES Journal Archive (2011)

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Quote from sosueme:

Very perceptive, but how do you know the Sellers are Hedge/mutual/pension liquidators.

Can you tell me why it matters who the Sellers are.
Why is one Seller any different than any other.

I am only trying to learn.
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It doesn't matter who the seller is, but they, and prop desks, money managers, et al, can move the market like that. It's just important to recognize the disparate price action, know that it's probably liquidation, and typically ends with a flush/spike. Then like clockwork, the buy programs kick back in and smart money buys the dip. Just like us!
 
Could it not be possible that the seller was also the buyer but at lower prices, and the hapless got caught in the middle?. I didn't see any news about the rally after. Apparently bloggers and journalists are biased.
 
TIGHT trading range between 1281-1282. TICK is sloping downwards and we`re currently seeing lower highs (although not by much).

I don`t see too much upside potential for the day, since we`ve already covered some ground for the day, but everything is possible :)

I sold the low at 1310 when I thought the stutterer was selling :) Stop currently placed @ 1283 (would have been more comfortable @1284, but 2 pts stop is max).
 
Quote from gkramer:

It doesn't matter who the seller is, but they, and prop desks, money managers, et al, can move the market like that. It's just important to recognize the disparate price action, know that it's probably liquidation, and typically ends with a flush/spike. Then like clockwork, the buy programs kick back in and smart money buys the dip. Just like us!
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Very clear thank you.
What triggers the Buy/Sell programs to "kick in"

Also, when you buy the dips, what exactly are you looking for to tell you that it is near /bottom of the dip

thank you
 
Quote from eudaemon:

Could it not be possible that the seller was also the buyer but at lower prices, and the hapless got caught in the middle?. I didn't see any news about the rally after. Apparently bloggers and journalists are biased.
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Yep
 
Quote from Laissez Faire:

TIGHT trading range between 1281-1282. TICK is sloping downwards and we`re currently seeing lower highs (although not by much).

I don`t see too much upside potential for the day, since we`ve already covered some ground for the day, but everything is possible :)

I sold the low at 1310 when I thought the stutterer was selling :) Stop currently placed @ 1283 (would have been more comfortable @1284, but 2 pts stop is max).
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Trailed my stop and got out prematurely @ 1280.
 
My hat is off to you guys who are buying this thing without fear.

I entered a long position in the midday and had to take some heat. Given how far this rally is extended... that was some seriously HOT heat. LOL.

In the clear now.. but man o' man... you bulls are fearless.
 
Quote from Laissez Faire:

Trailed my stop and got out prematurely @ 1280.
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Or maybe not :) Missed the last hour of the trading day.

I reinforced an important lesson today and that is to wait for bars to close before taking a signal.

An open bar that shows powerful momentum and seemingly agressive buyers/sellers, may close on the opposite end leaving
a huge tail. Very easy to get trapped on such fake breakouts.

I was tempted to go long on the first breakout of 1283, but waiting for the close of the 5-min bar, saved my ass.

+1,25 points.
 

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