Volente's Bar and Grill

Quote from chaykapwr:

Mean no disrespect here...for this to happen the market will need to close very close to the open, do you honestly see the market closing -8 points from here on those employment numbers? I think we will see 39 very shortly, but NO way will this market close anything less than 1.5%.
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Close means nothing for intraday targets. Longer term I think we top between here and 1360 max before a retrace to 1250-60. The long trade is crowded up here. I'm wrong 20% of the time so trade what you see and don't follow a lone wolf who eats well.
 
Volente, no one will ever accuse you of having weak hands! You are a fine trader. You handled exactly correctly, in my opinion, that situation that arose because of the Fed the other day when you got caught on the wrong side, got out on a dip and reversed. I don't know how you ended up whether plus or minus net, but you traded it exactly right in my view. Nice going.
 
Quote from volente_00:

Close means nothing for intraday targets. Longer term I think we top between here and 1360 max before a retrace to 1250-60. The long trade is crowded up here. I'm wrong 20% of the time so trade what you see and don't follow a lone wolf who eats well.
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In the grand scheme of things I agree with you, if we break 40, then we hit 52-60 which is where I will short with a big target.
 
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