roztom

Agree.. 62.00 HVN looks like a drop dead dividing line...

If you took APPL out of the NQ the actuall gain would be about 5% for last qtr.. It is distorting the Inx..not sure if it is relevant.. but it sure looks like the public is chasing a comet..

agree: The short side while waving a flag to jump on the wagon is IMHO where many could get the shaft..why? It is an obvious play.On the other side...yesterday was the obvious day to fry the late shorts so today "might" continue down no clue. I have been on sell signals today coming out of GBX but unless we rotate up I don't have a "SET UP." (Josh) and will have to wait... We might just consolidate ahead of earnings...I am going to be trading 2/3 of usual package today unless there is evidence of signifigent OTF activity...

BTW: 67.00, & 62.00 - 63.00 down below are good numbers imho to keep an eye on for downside targets at some point..

Greetings: Hope everyone had a good holiday. I was traveling yesterday... Loking at yesterdays action was not suprising though trading it I can't say... hindsight and all. One hting that was high probability was that the late sellers would get stuffed since the obviously play is almost always obviously wrong easy $ - sure.. SO after absorboing selling on the open the long side was the way to play as the shorts got squeezed... the was a lot of room above us to rotate without changing the bearish structure... the sell-offin the close was evidence that we only had responsive buying yesterday. Looking at this it appears we will either continue on the downside or at lerast test that important low made Friday morning GBX & probably take it out... When? Otherwise chop... ACH right... Just

My favorite "tool" is Volume Profile with Cumulative Volume based.nodes. Price based indicators only can tell you where you've been other than divergence whose "predictive" value is random at best. Trading is not red light, green light which many look to achieve with indicators but only shades of gray off to the right side of the screen.. IMHO..

I really can't answer your questions using this medium..it just requires too much.. but I can recommend you read the book Mind Over Markets by Dalton. Also there is tons of information about basic Market Profile out on the web... That would be just a primer on it in the most general terms so you would understand auction theory if that is not something conceptually you are familiar with.. I really must stress that you can't approach this as a rigid rule-based system or process... The volume areas are not fixed locations for stops or anything of the sort.. It is a way to read market structure... I personally do use the low volume areas for support and resistance but this expands out from the current interday timeframe to daily weekly annual, multi-year... etc.. It may sound complicated but it is just a grahical representation where certain activity took place over long time periods and based on how participants behaved in the past the more probability they will be active at these specific levels again... We call these participants the OTF (Other Time Frame) these are the big guns who move the market.. It is a way to identify the areas where they were active and where we might anticipate them coming in again... As far as VPOC's and Naked VPOCS.. NVPOC's get tested... Often like support and resistance get tested... Low volume nodes are Support and Resistance... High Volume Nodes are areas where there was/is agreement on price... Markets come back to areas to test..NVPOC's are price magnets... This is a complex topic and VP is not a rigid system but a fluid one depending on how you apply it and the timeframe you are deploying it in... It is a terrific tool but for many it is too complex and there is a lot of conflicting information on how to use it. Many fail with it since much of hte literature and the vendors represent it for something it is not. Like many of the tools we use, most do not use them identically the same... This is not an easy topic and there is a very steep learning curve... While you may need to understand the whole enchilata, you do not need to actually use all of it..just identify the parts that are an asset and then throw out the rest... IMHO.. N, Josh & I use it and while we share a common language we also use the tool differently and at times interpret it differently - yet it is an indispensible part of what we do... of course they can give more insight for their personal points of view. Success in trading is not a simple endeavor, imho. One of the things to consider is where can you get an edge or advantage... If you are using redundent price based lagging indicators and are dependent exclusively on them, you will always be at a disadvantage... (subject to your timeframe). I do use them but only to help keep me aligned..I do not wait for any indicator.. The VP helps me see where to take action..often to within a tick or two... the rest is up to me, my experience and how I read the current market condition, etc... It is an amazing tool...but since it can really give you an edge you must commit to learn it... and understand it's strengths & weaknesses... Trading is not a short term undertaking and neither is learning VP... I have spent years at it and still wish I understood it better but it does work for me and I would not step into the market without it... I hope I can encourage you to pursue it... but very mindful that vendors will gladly take your $ and most likely not deliver anything more than a rudimentary understanding. YOu would do better studying on your own initially from the web.

BTW: I've IRT running from this morning about 2.5 hrs.. using apx 195K Memory..how does that sound??

Well: Never look a gift trade in the mouth...dumped my long gave a few $ back for the privelege... but that is ok... this market looks nasty...

I took a small long against 72.00 area plating with markets $..

Here's the interesting question... Is it a buy down here or will it make new lows..assuming we had an RTH session? Or is 72.00 next? Thoughts? BTW: Look how often we come up with these numbers and they don't get realized during RTH sessions...

OMG!! I hate to say this but I sold 92.00 covered 80.75, 78.25... Mindblowing... and LUCKY... I targeted a single down there from GBX and a NVPOC... & CHVN @ 77.00 .. That was violant... Hate to be on the wrong side of that .. I had a very small position on... still it made up for yesterdays Dung Heap... Still the technicals said sell but it was a crap-shoot...

Actually my face has melted on to the screen and I'm stuck... :missy:

I'll be curious to hear once we are back to full sessions if you see anything different on the memory useage...

Hi N: Looks like only the "hard core" are here... Did you download the new vers of IRT?

It looks like a new ver of IRT got released after the close or thereabouts... I downloaded it and "possibly" the memory leak issue I was having is gone... not completely gone but I ran 3 or 4 playbacks of today and it got to about 720meg or whatever it is but nothing crashed, etc... I might be nuts so I won't know until I can put a full day of RTH on this whether or not it will be ok... bit I did send my layout to Bill Linn to check out - maybe this is the result of that... N: did you get your Line issue fixed?

See you guys. I might be in here for the morning just to check it out..if I don't see you have a Great Weekend.. This market was a dung heap today

Is that called the "over/under" ? :rofl: I "think" 95.75 might get taken but the action bites it...

So does that mean you are voting with the shorts?

I am flat...dropped a point on that..& missed first scale by a tick... :doh: This is tough... leaning to the upside but choopy, choopy.... I'm going to watch you... :missy:

I've been late on some stuff. My levels are good but my locations have had me at a disadvantage... this mornings good work has gone the way of the doh - doh bird... Might be jumping out of these shorts soon... If we take out 92.75 then probably you will get your wish...

This pooch has to make up its mind here 92.00 ish level...

I did reverse in the hole..not crazy about location... S 91.75.. have laid scales out 89.25, 86.50 & 81.00 ..since don't have good location I have a short leash on these...

Well..poop smells better than this mkt, especially long... I am actually considering reversing... but wouldn't want to short it in this area... so I might just wait here but at the moment I do not have anything going to initiate a long at least not here ..

I've been working with MP/VP for years..initially I abandoned it..but at least for me when you use a Volume Profile you can see volume at each price and when there is low volume and price does not stay there long it means there was competition at that price... If you are interested in seeing where a market will rotate to - on any timeframe then you watch that and align your entry or exit at those levels..that is just one use for it.. I do not use it alone but I also use Delta at key levels along with other price based lagging indicators..also when you use long-term composite profiles it gives you a whole different view of the market and how it functions - Auction Theory... I have integrated into my tool box and I wouldn't trade without it but it is not a system or anything like that..it specifically adds the ability to read market generated information from a different perspective. What happens at a VPOC shoft is it is typically telling you that at the moment there is agreement on price... it can mean different things at different times... sometimes it will indicate that the market has hit a wall and someone will throw the towel in, other times that one side is overwhealing the other..sometimes it just means one side is tired and the market will rotate... Where I find most value with VPOC's is old VPOC's. Naked VPOC's are areas that the market will come back and visit..they act like magnets... there are varibales to it but it is a tool to be taken in context with others... IMHO. In addition, like all tools, it is really what parts of it resonate with you and align with your psycology and tool box..