ES Journal Archive (2011)

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Quote from joneog:

Either people taking off vol positions and hedges or people assuming the bull market will continue (or at least give a sharp bounce off the lows) and trying to take advantage of this spike.

Its hard to tell what it means with respect to the market. On one hand it could mean this move in the broader market is an over-reaction to the downside or it could mean that people are too agressive selling vol/too complacent with their longs which could be problematic if we break the lows.

Like I said earlier, it can be comforting or terrifying, depending how you view it. Generally in a capitulation move you want to see high volume selling, parabolic price action, and a spike in the VIX.
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Terrifying wins.
 
Quote from klinckphilip:

Sold 97.50
stop 00.50
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Had to stop wishing I was short and just jump in. My strategy did not say to do that but it seems the sky is falling so I have to not pick the bottom and just ride it down for a small profit.
 
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