ES Journal Archive (2011)

[Blotto]

Quote from Blotto:

Plenty of buyers above the market then. I wonder which way it will now go? If I were a betting man I'd put money on a close above 1240. (last 1233 - nice price for a long? at time 15.22 EST)

Obligatory "what news made the market go up at the end of the day on high volume" post in 3...2...1....

 

[gmst]

Quote from gmst:

flurry of trades

covered above 35, entered long 35, covered 36.

short 36, covered 38.75

entered long 38, open trade

covered lasat one 38, and now short 38, covered it at 36.5

flat now.

 

[Picaso]

Just a congestion stop-run, in my opinion

I would expect more shakeouts, though

 

[Picaso]

Quote from gmst:

covered lasat one 38, and now short 38, covered it at 36.5

flat now.

I found out GMST's true identity...

 

[PushPull]

Quote from Blotto:

Obligatory "what news made the market go up at the end of the day on high volume" post in 3...2...1....

I am deeply and genuinely sorry for your loss.

 

[Blotto]

Quote from Picaso:

Just a congestion stop-run, in my opinion

I would expect more shakeouts, though

Are there really shakeouts or just inept trading? Are proficient traders "shaken out" of moves? If not why not?

If we finish above 1240 is that a "just a congestion stop run" or something else? What is congestion?

Is anyone still selling, and if not where is the market going to go?

 

[Laissez Faire]

Quote from Laissez Faire:

Further, don`t forget the head and shoulders formation which is a classic distribution pattern.

That was what formed yesterday, but I`m sure you all saw that in advance.

The thing with those patterns is that quite often price will rally strongly and people are salivating about new highs for the day and what not, only to be surprised when price breaks and trades 20 points lower instead.

Not saying we will see it today, just saying.

Right shoulder forming now, although it is a little rough formation and not very beautiful. Too bad it`s too late now for it to play out successfully by the close.

Overnight or tomorrow perhaps?

 

[ammo]

Quote from ammo:

sh 33 , 27 bid add 35.5 add 37.5 add 38...39

avg 36.5, flat 35.5, todays nip 35-37,still may get a sell off into close

 

[GordonTheGekko]

Quote from ammo:

avg 36.5, flat 35.5, todays nip 35-37,still may get a sell off into close

It seems as though today is a down day for you... is this so?
--



We're due for a rise, most likely after hours

 

[ammo]

Quote from GordonTheGekko:

It seems as though today is a down day for you... is this so?
--



We're due for a rise, most likely after hours

for me ,profitable,for the market its an inside bar ,they don't count or are neutral,still looking for a low around 08 in spx for the week,that's why i was looking for a selloff into the close