Inventory Grab Alert 4/30/09!

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Quote from AMT4SWA:

Yes


The one thing which can change the game though, is a significant rally in the EU markets Sunday night/Monday morning......we will have to watch and see how the EU markets trade after the weekend. :) As I mentioned earlier, I am looking for a test of the 877's based upon the market action we had today.
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Getting our multiple tests of the 877 area and I was able to fill all my targets from 876.75 this a.m. (took fills at 877.00 after the first 876.75 touch......good enough)......we will see how the day plays out. :)
 
Quote from SoCalTrader619:

So, are we rotating higher so that sellers can load up more shorts?
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There was still a large amount of held LONG inventory from the 877 area, so they defended to this point (the 877's tests did not cause LONG held inventory to bail out and go neutral.......very clear to see). BTW, we had two HUGE Long divergence trades this a.m. off the 877 area (initiated buying conviction after pivot off 876.75 and pivot off 878.25). The failure to bust through the 877 area and then also get defended with new buying, has caused a short covering rally as those in the range above gave up any held short positions (with at least some profit).

Auction Market Theory plays out again exactly as advertised........if a support/resistance zone (resting supply/inventory) holds, then price will move to the next zone of resting supply/inventory. :)

I will put up some charts latter today.....right now I am trading like crazy.......that was a brilliant move off the second LONG divergence signal. :cool:

Also, lets just say that today's price action has created massive significance to the 876.75 to 880's delta zone! :eek: :)
 
Quote from SoCalTrader619:

My guess is the 911's-914's
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Yes that area has some inventory, and then the next primary zone at the 924-927 zone. There are some minor pockets up to the 911's but nothing that will be as important as the more significant delta zones mentioned. :)

If I do get a decent intraday signal, I may take a shot at the 904's/905's once today short. :)
 
Quote from AMT4SWA:

If I do get a decent intraday signal, I may take a shot at the 904's/905's once today short. :)
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904.25 touch......now worked in a small short position (1/2 level) at 903.25 :)
 
Quote from AMT4SWA:



Also, lets just say that today's price action has created massive significance to the 876.75 to 880's delta zone! :eek: :)
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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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