yes today the ym was much stronger than the other indexes. the s@p fell 6 off there highs and the ym's were only 37 off there highs. the ym's looked much stronger today. today i shorted the the es's around 1239 when 1240 didn't hold. i'm holding them for a few days as in out in out in achoppy market is suicide
YM Traders
- Thread starter volente_00
- Start date
well look at the underlying. YM trades the dow blue chips which are in a lot of funds portfolios. They need to look good for end of year so they're pumping in $ to support these stocks. Looking at the ER2 for a better idea of what the broader market is doing, there was profit taking today across the board. Looking at the A/D in NYSE and NASD. weak today. However the $TRAN weekly is breaking up to all time highs (unless my charts are screwy) and VIX says we have some more upwards movement left in stocks. imo we're in for a minor correction this week to deflate the overbought conditions and then we'll have a very strong up move through the first qtr of '06. We could very well see the DOW crack 11,000 again next year. I'm having some difficulty finding the underlying fundamentals that could propel stocks up further. I trade what I see, so not that it matters anyhow.
Nah, porgie's fine. Better to have porgie around than a bunch of sycophants. I figure he'll never come right out and say what his methods are but a compilation of his obscure observations may provide useful information.
The thread's starter (volente) seems to be on the up-and-up and making money. One claims to be a "with the trend" trader and the other trades counter-trend. They don't agree. Yet both can make money.
I think it's great. Long live the YM Traders thread!
The thread's starter (volente) seems to be on the up-and-up and making money. One claims to be a "with the trend" trader and the other trades counter-trend. They don't agree. Yet both can make money.
I think it's great. Long live the YM Traders thread!