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haha, what's the betting we see those 41's in the last few minutes of trading this week?

 

Why not... :helloooo: Of COURSE.........

 

:crap:

 

Tom

Edited by roztom

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Despite the low volume it was quite a nice day. Was tempted to leave early for the weekend during midday dry up but glad I stuck around.

 

I have the market as a short on ST, with a retrace of at least 2 days. nq is a pennant today so i count after today. es and ym count starts today on the BO short..they were showing weaker the past 2 days...

 

a gap up open monday would be a gift horse i would accept without checking the teeth...this is just anticipation and not a prediction...

 

good trading..

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Do you think we could see 1329.75 in the last 3 mins or is that just pushing it?!:rofl:

 

LOL...i'd say that's pushing it....

 

left to right...then resumption...let's talk then...hehe

5aa710cba0002_20120210fes60as.png.e2cf1fa5df9005890bcb88601954dcef.png

5aa710cba2a54_20120210fym60as.png.e5b922fe880f60bc462ea91ffba208cb.png

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LOL...i'd say that's pushing it....

 

left to right...then resumption...let's talk then...hehe

 

Maybe, maybe not. Markets often "stair-step" up or down the overall bigger trend, so it could just break higher. Plus the channel I think you have there isn't exactly well established. Let's see what the Greeks bring us....

 

Have a great weekend all and see you here next week!

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Maybe, maybe not. Markets often "stair-step" up or down the overall bigger trend, so it could just break higher. Plus the channel I think you have there isn't exactly well established. Let's see what the Greeks bring us....

 

Have a great weekend all and see you here next week!

 

I'm not sure what you mean by "stair step"... do you mean markets move in an ebb and flow? progress and retrace? dominant and nondominant moves?

 

regarding the channel...i don't use the descriptor "well established"....all it takes is pts 1, 2 and 3...the channel gets drawn..that's my job...the market does what it does and it could BO of the RTL..it's not up to me...

 

today ended on a retrace to the right side...anyone who thought it would sell off into the friday close got burned...as you saw the rally into the close....quite a few people were short and got squeezed (check volume, highest 5m V bars of the day were at the close)

 

now it could be that the market BO's of the channel next week..that's not up to me either...what i know is that the container is there and i know the possibilities after the retrace...i just monitor and take action when required....

 

the channel is downsloping...therefore ST says trend is short....it could change next week of course and if it does, my job is to adjust...but this is the position of the indicies in the NOW....

 

let's see next week what unfolds....

 

have a great weekend, all...

 

p.s. when i was writing that post about gap up on monday open, the market had not retraced much...my reference to the gift horse was an open near the RTL on monday...obviously now, it wouldn't be much of a gift as the indicies closed near the RTL....

 

i don't guess the markets but for shits and giggles if i HAD TO GUESS, i would guess a gap down over a gap up on the monday open...but guessing is not trading..i trade on knowledge and strive to minimize risk..that's all my job is...

 

cheers

Edited by gosu

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By the way josh, take a look at your daily vol vs 20 day median now

 

98% for RTH ...

 

good call on the 41... I simmed a long at 35.50 for 40, stupid for not taking a real long a little higher up as it started to push.

 

gosu, glad you had a good day. To me, a 6.50 range after 14.00 range ON, then a 5 point push in 15 minutes is not my cup of tea.

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98% for RTH ...

 

good call on the 41... I simmed a long at 35.50 for 40, stupid for not taking a real long a little higher up as it started to push.

 

gosu, glad you had a good day. To me, a 6.50 range after 14.00 range ON, then a 5 point push in 15 minutes is not my cup of tea.

 

Hi josh,

 

i consider good or bad relative to what's offered....i had 2 good trades..one in the AM and one after midday..the rest of the day i was washing...i think also i feel good about the day because i chose to stick around rather than cut out early and i caught my best trade of the day by sticking it out.

 

and yes, i agree with you...relative to other large gap open days, it wasn't that good a day...most of the move came ON. And on that sharp move at the close..i had just closed my short and mentally checked out of the market and was writing my post here while the best move of the day occurred...LOL

 

but no matter, opportunities are endless.

 

have a great weekend.

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but no matter, opportunities are endless.

 

I think this is the healthy attitude to have. Opportunities are more abundant some days, but as long as there are markets, there are opportunities. Thanks for reminding me of that heading into the weekend, hope yours is great as well.

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yup. I think they're good.

 

 

 

I'd just give it until say beta 10 or 11 if I were you Tom. The only thing I have started using is the DVPOC on the profile indicator.

 

I pointed out the VA issue and Chad has fixed this for beta 10 when it is released, FYI.

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Good Day Traders:

 

I am nursing a short here.. A bit annoyed at myself for not covering a bit more when we came off 1342.75.... ..sold them initially @ 47.00 and have scaled back in so am sitting here doing my knitting...

 

I didn't have much for reference points but on the Micro profile using the current balance area since 2/2 I had 47.50 as a MLVN so I leaned on it..also as of 11:00 ish we kept banging our little ES head on it and we have a swing high @ 48.25.....

 

I have a scale sitting @ 42.00 ish and then we do have IMHO based on a measuting objective on the 15m chart... takes us down to 38.00 - 39.00 area (potentially)..

MicroNVPOC 39.25 + NVPOC 36.00. NO clue if they will come into play today..

 

Depends if we can get a 15m close under 45.00 + holding 47.75 on the upside, IMHO...

 

That's my take on it... as of 11:40cst

 

Hope you are all having a good day... I just came up for air & though I'd visit...

Edited by roztom

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Good Day Traders:

 

I am nursing a short here.. A bit annoyed at myself for not covering a bit more when we came off 1342.75.... ..sold them initially @ 47.00 and have scaled back in so am sitting here doing my knitting...

 

I didn't have much for reference points but on the Micro profile using the current balance area since 2/2 I had 47.50 as a MLVN so I leaned on it..also as of 11:00 ish we kept banging our little ES head on it and we have a swing high @ 48.25.....

 

I have a scale sitting @ 42.00 ish and then we do have IMHO based on a measuting objective on the 15m chart... takes us down to 38.00 - 39.00 area (potentially)..

 

Depends if we can get a 15m close under 45.00 + holding 47.75 on the upside, IMHO...

 

That's my take on it... as of 11:40cst

 

Hope you are all having a good day... I just came up for air & though I'd visit...

 

volume is shit........

5aa710cc2b331_20120213mes5mmidday.png.86cf45b9628297a0cbbb1611f6800dba.png

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How are you all finding things today? I'm snowed under with other things right now so not going to be trading unfortunately(or not).

 

Yes I guess that depends... :missy:

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volume is shit........

 

Yes it stinks.. A major area got tested in GBX again.. 1352.50..so that can be a problem but we keep coming off that area...

 

NOthing says of course that they won't rotate this up to the 49.00 area...that will get me out & then I will have to reevaluate...

 

I really prefer not to sit in this especially during this time of day when a counter-rotation is likely..

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Yes it stinks.. A major area got tested in GBX again.. 1352.50..so that can be a problem but we keep coming off that area...

 

NOthing says of course that they won't rotate this up to the 49.00 area...that will get me out & then I will have to reevaluate...

 

I really prefer not to sit in this especially during this time of day when a counter-rotation is likely..

 

i play only the extremes when volume is this bad....

 

 

they're 5m bars

5aa710cc32f61_20120213mes5mmidday2.png.c4642f049f9f9a4a315bdb4116f3ca5a.png

5aa710cc3701f_20120213mym5mmidday2.png.5b04a6b1e33401c75ef640d603f2fa50.png

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I took a sim trade long 45.50 earlier, and scaled out 3 for 2.75, 3.50, and 4.00 (posted in real time elsewhere if you need proof) -- it was a nice 50% pullback of the low to the prior high. ON low tested and held beautifully to the tick, and from then on delta has been nicely positive, so no reason not to buy.

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