Who is still short? Be honest now.

ivanbaj · Jul 15, 2009

This will be a confession place for traders that are against the trend, because of:

1. The fundamentals are not supporting it
2. The volume data is not supporting it
3. The news are not supporting it
4. ........

Don't be shy step up and confess.

dealmaker · Jul 15, 2009

Volume data is not supporting anything. Volume is so low any conclusion would inevitably be based on personal convictions not reality.

MandelbrotSet · Jul 15, 2009

Quote from dealmaker:

Volume data is not supporting anything. Volume is so low any conclusion would inevitably be based on personal convictions not reality.

Thanks for your post!

I personally don't use volume in my trading, but hey, thanks again.

Landis82 · Jul 15, 2009

Quote from dealmaker:

Volume data is not supporting anything. Volume is so low any conclusion would inevitably be based on personal convictions not reality.

Using VOLUME as a basis for any kind of trading decision is pure foolhardy. Watching volume is a total waste of time.

Clearing firms pay you in PRICE.
Price RULES.

Not volume.

P.S. The SPX traded above the July 1st highs.

Dr. Zhivodka · Jul 15, 2009

I agree 100% The only time I ever look at Volume is to see if something has enough liquidity to trade it.

Quote from Landis82:

Using VOLUME as a basis for any kind of trading decision is pure foolhardy. Watching volume is a total waste of time.

Clearing firms pay you in PRICE.
Price RULES.

Not volume.

P.S. The SPX traded above the July 1st highs.

chrismontez · Jul 15, 2009

I took loses on the puts I recently bought on the oex and GE. I'll I'll buy them back if/when the downturn is more confirmed. Meanwhile my portfolio is going up.

HiddenAgenda · Jul 15, 2009

I've just taken a short position in COF. I think it's overbought :eek:

Landis82 · Jul 15, 2009

Quote from Dr. Zhivodka:

I agree 100% The only time I ever look at Volume is to see if something has enough liquidity to trade it.

Exactly.
The A/D line sent out a strong bullish message on Monday of this week. Today's action continues to confirm at nearly 9:1 A/D's. - - - Volume is meaningless.

bronks · Jul 15, 2009

I am.

But then again I like stabbing a sharpened pencil in my ear hole whilst getting knee'ed in the nuts.

Fuck.

Ivanovich · Jul 15, 2009

Quote from bronks:

I am.

But then again I like stabbing a sharpened pencil in my ear hole whilst getting knee'ed in the nuts.

Fuck.

Reminds me of that SNL skit. Heh...sorry mate. I'm holding some ugly EDZ right now too. I did drop my SSO at close today, though.