Inventory Grab Alert 4/30/09!

[stoneface]

Quote from AMT4SWA:

Sounds good......I can't pick tops (or bottoms), but I do know how to get in the market (gotta be IN to WIN....LOL!) and mix it up to see if I can catch one!

Outstanding trading... thank you for the thorough explanations!

 

[AMT4SWA]

Quote from ammo:

Nice chart ammo......what are all those SQUIGGLY lines in the bottom half???


JK....LOL!

 

[jjf]

Quote from AMT4SWA:

I don't think most are critizing what I do (well maybe a few.....:eek: ), I just think that most traders are lead into more convential "inside the box" methods (from books, courses, other traders, etc). I decided years ago "TO DECIDE" for myself what was going to be a method that I can trade and work with.....not contained within conventional thoughts/mentalities......this is what works for me.

Well you are certainly well outside the box as far as I am concerned.
This morning you sold an obviously rising market and when it rolled (rotated) you sold it back down again (apart from one trade when you flattened just as the trend changed to short)
Keep up the good work. This is a learning thread.
jjf

 

[AMT4SWA]

Quote from jjf:

Why did you close out your short when there was a trend change in your favor around 10:44 ish
jjf

Properly thinning out position for any retest of the HOD or 924-927 zone......price will many times retest highs so that needs to be kept in mind on a hard rally.

 

[SoCalTrader619]

AMT, was a new layer of short inventory added today at 920.50-923.50, or should we only concentrate on the previous zone of 924-927?

 

[AMT4SWA]

Quote from tradingbug:

I recall AMT saying that there were net short holders who may defend there position 924 and up. I will have to back further in the thread to find it...... i suspect he is looking to swing the bat at a high prob area looking for another move down to the 875s if the previous net holders defend their positions successfully.

BINGO sir.......UNTIL the Delta Zone at 924-927 is busted out it still remains as an area of significant resistance to this point. Also, Auction Market Theory states that a FAILURE to bust this type of zone (resting supply), will cause price to have a high probability of trading back to the next significant zone (resting supply) at the other end of the current range.

 

[manlycure]

The CD, as anyone using a tool that tracks it (I/RT, Ninja/GomCD, etc.) can judge for herself, IMHO is NOT a reliable indicator, at least not by itself, or should I say, at least not in its simplified form when you try to detect divergence with price action. Now someone needs to write a book about how to make money with CD and that will seal the deal on the self-destruction of this indicator. Who said the market is not efficient?

D.

BTW I'm still using CD... just not trusting it wholesale.

 

[jjf]

Quote from AMT4SWA:

Properly thinning out position for any retest of the HOD or 924-927 zone......price will many times retest highs so that needs to be kept in mind on a hard rally.

thanks for that AMT I knew there would be a reason
jjf

 

[AMT4SWA]

Quote from SoCalTrader619:

AMT, was a new layer of short inventory added today at 920.50-923.50, or should we only concentrate on the previous zone of 924-927?

Yes we do have "layered" zones now......this is common at areas that do not breakdown (inventory accumulation taking place). I will still focus primarily on 924-927 on any price return to that area.

 

[AMT4SWA]

Quote from ivanbaj:

I am out at 917.25.

This is day trading. It has nothing to do with AMT style. But I am puzzled by the lack of respect to the short term trend by AMT.

The trend was "relative" to me.