Inventory Grab Alert 4/30/09!

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Quote from AMT4SWA:

904.25 touch......now worked in a small short position (1/2 level) at 903.25 :)
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Another 1/2 level filled at the 903.75 level (just missed 904.24 fill attempt). :)

898.50 will be the first profit targets level.
 
Quote from tradingbug:

Can you elaborate on the significance when you have time. It seems like the 867-870 zone is not as important anymore and the 876.75-880 zone is more important for the bulls to hold.
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Yes the 876.75 to 880's zone is fresh new multiday back inventory, so this is the KEY support zone below current price now.
 
AMT,

Many thanks for your analysis. I marked the net longs area on a multi-day chart here.

While the net long zone from the 877's makes sense, what really confuses me is how we made new highs 2 weeks ago on lower CDV readings consistently for a week (904.75, 912.50, 929.50) . (Implying that net shorts were not neutralized, but we went a lot higher anyways)

Any thoughts on that one? I marked the confusing zone on the chart.

All the best,

Stone
 

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That is a byproduct of price trading back up to levels from which a previous contract was the current month contract (as we traded down through the lower 900's to our 665.75 low of year run). This deals with the more complex multi-contract tracking, and the fact the market made very dramatic price range moves in a few month period of time.

BTW, I was a seller in most of those rallies into previous zones (from previous contracts) and the divergence was as aspect I took into account.
 
Quote from AMT4SWA:

Another 1/2 level filled at the 903.75 level (just missed 904.24 fill attempt). :)

898.50 will be the first profit targets level.
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Filled another 1/2 position at the 904.75 level. :) First targets now moved to 899.00
 
Looks like another trend day so far. No?.

Maybe the whole world wants to invest in USA after that nuke went off over the weekend in Asia?. Who knows really. Interesting times.

JW
 
Quote from AMT4SWA:

That is a byproduct of price trading back up to levels from which a previous contract was the current month contract (as we traded down through the lower 900's to our 665.75 low of year run). This deals with the more complex multi-contract tracking, and the fact the market made very dramatic price range moves in a few month period of time.

BTW, I was a seller in most of those rallies into previous zones (from previous contracts) and the divergence was as aspect I took into account.
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I know you are a great trader because your posts repeatedly say so.
But what on earth is this latest post of yours all about.
At first glance it did not make sense and so I re read it, which only confirmed my first impression.
But as I say, you are a great trader so keep up the terrific work.

sosueme
 
Quote from AMT4SWA:

Filled another 1/2 position at the 904.75 level. :) First targets now moved to 899.00
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Filled one more 1/2 level at 904.75 and will cover all 903.25 positions at 903.00 :) Target at 899.00 remains as first primary target.
 
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