Kudos to MMs

nitro · Nov 16, 2010

FV 1187.00. SPX 1175.95.

Closing in on swing trade edge.

nitro · Nov 16, 2010

"The old ones say that we Spartans are descended from Hercules himself..."

http://www.youtube.com/watch?v=2kuna7sC5ek&feature=related

nitro · Nov 16, 2010

FV 1179.93. SPX 1,175.50

Complete collapse of FV.

nitro · Nov 16, 2010

FV 1179.79. SPX 1,176.69.

Convergence happening. I have an offer at 1178.75 ES, which would lock in a loss of 5.25 on this trade.

nltro · Nov 16, 2010

--------------------------------------------------------------------------------
Quote from nltro:

nLtro says short the market now. abcFVxyz has more or less thrown in the towel. If nothing else, that should be the tell of the century.
--------------------------------------------------------------------------------

SPX was 1223 at that post....

ZERO heat was suffered from my call. Covering now. 46 handle winner.

nitro · Nov 16, 2010

FV 1178.25. SPX 1,177.96

Forced to exit on convergence. Out ES 1176, -8. Essentially even on the day. Unlucky.

nitro · Nov 16, 2010

FV 1179.32. SPX 1,179.33.

Eerie when I see them that close. Too bad FV followed SPX down. I was hoping it would lead it.

tradingjournals · Nov 16, 2010

Nitro: my models said a possible bounce in EUR/USD starting at 1.3460. So far it rose to 1.3480 (see shortie's thread). I think a bounce is around the corner. 117 in spy would be good to go long? I see the downside limited to around 117, less than 1% from where I last checked the market.

What do you think?

nitro · Nov 16, 2010

Quote from tradingjournals:

Nitro: my models said a possible bounce in EUR/USD starting at 1.3460. So far it rose to 1.3480 (see shortie's thread). I think a bounce is around the corner. 117 in spy would be good to go long? I see the downside limited to around 117, less than 1% from where I last checked the market.

What do you think?

Depends on your time frame, but there is no edge here. Unless something strange happens from here to close, the rest of the day is noise trading, imo.

If you are asking for my instinct, I think the dollar strengthening is a short term phenomena. Euro probably retests high 1.30s in the next few weeks.

shortie · Nov 16, 2010

Quote from nitro:

It just isn't system, so I need to keep those seperate from FV trades. 1205 SPX is an automatic sell, and 1172 - 1182 is probably 85% odds on now. Timing is everything though. I would work like mad this week. Stay up all night tonight, and get off a short either today/tomorrow, into Opts ex. Note this is my opinion, I can't take these trades because they are not system.

target achieved