What the hell is causing this extreme constant bullish move in the Dow??!

Key levels are like magnets. Today, SP500 just breached 1500 level. Russell 2000 pushed through 900 level.

In addition, after Dow and SP500 breached their 52 week high this past week, traders should have been wary that what was resistance has now become support.

Hmmm, this TA stuff might have some validity after all. :D



Quote from spanish89:

Yes, i had meant does anyone have any guesses on what the specific factors are taht are casuing this extreme strength in the dow TODAY though??
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Quote from kashirin:

so how exactly did you profit as a trader?
it's 6% move in 3 weeks without any pullbacks

you can't profit as a trader here .

6 % is insane in3 weeks for any day trader
you can just buy and hold but it's impossible to beat the index now
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Any price dependent day trader who is not a fade monkey would be doing quite nicely I would imagine.

Alot of folks have trouble accepting reality. Again, the market is what the market is. Arguing against the market is a tough way to be a profitable trader.

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Quote from bone:

Any price dependent day trader who is not a fade monkey would be doing quite nicely I would imagine.

Alot of folks have trouble accepting reality. Again, the market is what the market is. Arguing against the market is a tough way to be a profitable trader.
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I'd also add that if you try to argue against the market, you're in the wrong camp - not just because you're always wrong (if the market is always right) but because the market is designed to go against you and cause the maximum amount of pain possible.
 
Quote from bone:

Any price dependent day trader who is not a fade monkey would be doing quite nicely I would imagine.

Alot of folks have trouble accepting reality. Again, the market is what the market is. Arguing against the market is a tough way to be a profitable trader.
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what you say a BS.
Accepting reality is one thing, beating the index the other
No day trader with proper risk management would make 6% in this environment in 3 weeks
 
Quote from kashirin:

what you say a BS.
Accepting reality is one thing, beating the index the other
No day trader with proper risk management would make 6% in this environment in 3 weeks
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Day traders can beat the index any day, baby!

We pikers get to latch onto the INSTITUTIONAL MONEY that DRIVES PRICE and get a ride to the bank every day.

I made $200/contract buying the new high of the day in crude oil following a "bearish" news report.

Who knows more, me or the institutional traders who interpret the report and drive price?

Price action rules when you follow price action rules!

Al Brooks, I love you! I wanna have your baby, baby!

(No, I'm not drinking.)

:D :D
 
Quote from kashirin:

what you say a BS.
Accepting reality is one thing, beating the index the other
No day trader with proper risk management would make 6% in this environment in 3 weeks
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No BS - you are being selective in your criticism and dismissing what else you said in your same post.

You also said in that post:

Quote from kashirin:

so how exactly did you profit as a trader?
it's 6% move in 3 weeks without any pullbacks

you can't profit as a trader here .
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Well, you could profit as a daytrader if you did the obvious and bought the thing. Seems obvious to any clear thinking rational person IMHO. You might have to buy an offer and rely upon a trend continuation. Every trader on ET proclaims that he or she trades along with the trend and the trend has been obvious in the timeframe you refer to in your post.
 
Quote from spanish89:

Dow risen up over 1,000 points in 3weeks with barely a 35points pullback along that upmove!!! :eek: :eek:

What the hell is behind this move?? :confused:
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Waiting for your lil rubber band to snap? You still have not learned a godamn thing about markets have you son?
 
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