Stupid S&P

Nasdaq5048 · Aug 2, 2006

Dont island reverse if you are not going to go trend day up. Who the hell cause the island? idiot!

chewbacca · Aug 2, 2006

actually if we get a trend day today i bet a lot of guys will lose a lot of money.

Pabst · Aug 2, 2006

Quote from Nasdaq5048:

Dont island reverse if you are not going to go trend day up. Who the hell cause the island? idiot!

How hasn't this been (so far) a trend day up? ES never traded lower on the day. I wouldn't call the earlier 3.75 rotation off the highs (82.75 down to 79.00) a reversal.

chewbacca · Aug 2, 2006

i bet a lot of guys are betting on chop before august 8 - that's why we have all these low volume low trading range days.

chewbacca · Aug 2, 2006

btw don't call my market stupid!!!

5Pillars · Aug 2, 2006

Quote from Pabst:

How hasn't this been (so far) a trend day up? ES never traded lower on the day. I wouldn't call the earlier 3.75 rotation off the highs (82.75 down to 79.00) a reversal.

Yes the "delta" stayed positive that whole rotation and then gave two good opportunities to get LONG for the run up above the previous highs.....so the pullback was a second chance to get on the LONG train.

Nasdaq5048 · Aug 2, 2006

Quote from Pabst:

How hasn't this been (so far) a trend day up? ES never traded lower on the day. I wouldn't call the earlier 3.75 rotation off the highs (82.75 down to 79.00) a reversal.

A trend day shouldnt test the opening low, should it? I guess the buyers didnt show their hands until the last second (europe's close). More power to them!

Steelhead · Aug 2, 2006

1280 cash.... look out

chewbacca · Aug 2, 2006

the gap fade is the most popular strategy out there because it is essentially a countertrend strategy and people love to fight the trend...i bet max pain on gap days for most traders

Nasdaq5048 · Aug 2, 2006

Quote from Nasdaq5048:

A trend day shouldnt test the opening low, should it? I guess the buyers didnt show their hands until the last second (europe's close). More power to them!

By reversal, i mean the island reversal. The down gap from monday's low to Tue's high, and tue's high to today's low. No trades (gap) from 1278 to 1279.