Inventory Grab Alert 4/30/09!
- Thread starter AMT4SWA
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Yes....I wanted to make sure we were not going to blast right through that stop zone and take out what little divergence remained. I would have still wanted to sell the move, but if the divergence was taken out then I would have handled the trade set-up differently......I would have let the rally run a bit more before starting to take my shots. If the delta divergence would have been totally taken out I would have waited to see if maybe price could have traded to at least the 931/932 area....before looking for order flow transitions to sell the move (about 5 points beyond the previous 926.25 high).Quote from manlycure:
I can only imagine how monumental this pivotal event is to make you feel like xmas during an Austin summer
I'm curious about the logic here. Did you really need to confirm this was a "stops" run move prior to the initiated sell reaction (which you require anyways to qualify an entry signal)?
Live calls and a living example of excellence by giving (and not just being here for the taking...), once again, kudos!
Seeing order flow transitions finally forming as we traded 927's/928's gave me the green light to start taking shots. I had to watch the delta close on that one though as we only had that minimal divergence holding at the time.....the second small rotation that touched 928.25 in that "stops" zone I was ready to react if needed. The good thing was a second order flow bias shift from the sellers hit just after we had the 928.25 touch, so I was adding at that point. The trade looked better at that point and then sellers pulled us right down out of those upper pricing levels.....it was all good from that point on.
You call that "an attempt"?. I call it complete murder.
You, yourself, ridicule yourself with your own ridicule claims and words.
I only exploit it (for fun and for ego), much like I approach the markets: Wait for a shot at the weak, and pounce. Abort (lose quickly and small) if I don't succeed inmediately. For the good "catches" (like this one), I hold on as much as I can (or pile in) till the profits are huge. Then I wait for the weak to exhale their last breath (or I exit when it gets slow) or the day ends.
I also go to the toilet without my laptop. I don't expect you to understand that either.
JW
Quote from AMT4SWA:
Yes....I wanted to make sure we were not going to blast right through that stop zone and take out what little divergence remained. I would have still wanted to sell the move, but if the divergence was taken out then I would have handled the trade set-up differently......I would have let the rally run a bit more before starting to take my shots. If the delta divergence would have been totally taken out I would have waited to see if maybe price could have traded to at least the 931/932 area....before looking for order flow transitions to sell the move (about 5 points beyond the previous 926.25 high).
Seeing order flow transitions finally forming as we traded 927's/928's gave me the green light to start taking shots. I had to watch the delta close on that one though as we only had that minimal divergence holding at the time.....the second small rotation that touched 928.25 in that "stops" zone I was ready to react if needed. The good thing was a second order flow bias shift from the sellers hit just after we had the 928.25 touch, so I was adding at that point. The trade looked better at that point and then sellers pulled us right down out of those upper pricing levels.....it was all good from that point on.
Is it correct to assume that your remaining (not scaled out) previous short positions taken on days prior were covered or stopped (+0.25) on the runup to 928.25 ?
Did you hit it again with 1/6 th or 1/12 th or more at the 928.25 flow transition?
Thanks
JW
I held ALL previous not-yet-scaled-out entries and added two entry levels on the 928.25 run (still holding positions from 950's from before also......next target for those is sitting at the 882's). I was able to get fairly loaded back up with these recent runs, first to the 926.25 level and then the last run to the 928.25 level. With my entries from the trading up to 928.25 I was back to 5/6'ths of a full clip.......since then of course I have scaled out some on targets during the sell-off. If I can get fills at 882's I will then be holding a remaining 66% of my overall position. I want to be heavy for any potential bust through the 876's-872.75 Delta Zone in the week ahead.
Since the 950's run I see enough in the volume distribution to kind of "go-for-it" on these SHORT position trades.......I am making a "bet" that we will have a breakdown through the lower end of the multi-week price range 876's to 872.75 Delta Zone of support. I want to be loaded up to take advantage of the potential downside move we could get from that significant support zone getting taken out.....FINALLY (after several attempts these past weeks).
Quote from AMT4SWA:
I held ALL previous not-yet-scaled-out entries and added two entry levels on the 928.25 run (still holding positions from 950's from before also......next target for those is sitting at the 882's). I was able to get fairly loaded back up with these recent runs, first to the 926.25 level and then the last run to the 928.25 level. With my entries from the trading up to 928.25 I was back to 5/6'ths of a full clip.......since then of course I have scaled out some on targets during the sell-off. If I can get fills at 882's I will then be holding a remaining 66% of my overall position. I want to be heavy for any potential bust through the 876's-872.75 Delta Zone in the week ahead.
Since the 950's run I see enough in the volume distribution to kind of "go-for-it" on these SHORT position trades.......I am making a "bet" that we will have a breakdown through the lower end of the multi-week price range 876's to 872.75 Delta Zone of support. I want to be loaded up to take advantage of the potential downside move we could get from that significant support zone getting taken out.....FINALLY (after several attempts these past weeks).
So really at the 928.25 transition you had very little or no "defense" left?.
I don't know how you can handle those 20+ point rallies against your open profits!. Hats off to you and your strong stomach.
I only believe you because you have made many realtime calls and have been spot on.
You must admit that what you do seems really unbelievable to most. I have not seen you taking a loss in months. Since I'm a recovering loser on a 12-step programme, you can understand my skepticism.
I can see how you can handle that type of trading with a large account, but since you had to build your account to begin with, by using another method, why switch methods?. Did you get to be too large to scalp?. Amazing.
Take care and thanks again for the discussion. Happy 4th.
JW
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