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Jeez... I am long 73 on average :doh: ... expecting a rally into the close... though a shake-out of weak longs can happen before... :(

 

Looking good for you so far buddy ... good luck

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The shape of the profile looks a bit to the short side given the way it's responding to it now at 72.50 .. I am short 72.50 with an add short at 74.25

 

Did not get my add, one tick shy of it, so I have to all out here ahead of LOD, 69.50

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Not that I'm going to buy, but I don't see enough downside urgency here, I may still short but it will have to be at better value than here.

 

edit: 3:49 -- there's your downside urgency ;-)

Edited by joshdance

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Looking good for you so far buddy ... good luck

 

Did not get my add, one tick shy of it, so I have to all out here ahead of LOD, 69.50

 

If I understand correctly, you were short and encouraging a person who wants to learn from you to stay long? I know we're all big boys here and responsible for our own trading decisions, and joshdance you strike me as a decent guy, but this seems very uncool to me.

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If I understand correctly, you were short and encouraging a person who wants to learn from you to stay long? I know we're all big boys here and responsible for our own trading decisions, and joshdance you strike me as a decent guy, but this seems very uncool to me.

 

C'mon gosu, I hope you know I would never have that intent. At the time it was going up, and in the spirit of camaraderie I wished a fellow trader good luck, despite the fact that I had an opposite position. I never recommend anyone to do anything; I would not want the burden of a potential loss on my conscience. Me saying "looking good, good luck" is in no way meant to be a recommendation to do anything, it's just like wishing a fellow ball player well before or after a game. I would especially never do anything malicious towards someone here; we have a nice group of people here and I like all of you and consider you friends, as much as online friendship goes anyway.

 

Tom sets a good example in this respect; if we have an opposite position, he will often say something to the effect of, 'well, at least one of us will benefit here' -- I think it's a great attitude, and one I try to cultivate as well.

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If I understand correctly, you were short and encouraging a person who wants to learn from you to stay long? I know we're all big boys here and responsible for our own trading decisions, and joshdance you strike me as a decent guy, but this seems very uncool to me.

 

 

That's okay, it was my fault. I'm not trying to learn from Josh or the others, as this would mean I would have to learn their methodology. I have my own approach, which works well.

 

My problem since Wednesday was that I have "experimented" with a new "longer-term" approach, instead of my usual scalping method. I have my reasons why I did this, but this might be a topic for a completely new thread, I guess.

 

Anyway, I have to analyze this weeks setup and return to my usual method until I have a better understanding of it.

 

 

PS: Got stopped out with 2/3 at 67 by the way. However, not sure about the Monday up gap...

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C'mon gosu, I hope you know I would never have that intent. At the time it was going up, and in the spirit of camaraderie I wished a fellow trader good luck, despite the fact that I had an opposite position. I never recommend anyone to do anything; I would not want the burden of a potential loss on my conscience. Me saying "looking good, good luck" is in no way meant to be a recommendation to do anything, it's just like wishing a fellow ball player well before or after a game. I would especially never do anything malicious towards someone here; we have a nice group of people here and I like all of you and consider you friends, as much as online friendship goes anyway.

 

Tom sets a good example in this respect; if we have an opposite position, he will often say something to the effect of, 'well, at least one of us will benefit here' -- I think it's a great attitude, and one I try to cultivate as well.

 

I'm not saying you had bad intent or that it was intentional at all. I'm sure it was inadvertent. I think rozom is a different type of bird. In any case, we all see things from our own perspective. I just pointed out the view from where I sit.

 

Cheers.:beer:

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That's okay, it was my fault. I'm not trying to learn from Josh or the others, as this would mean I would have to learn their methodology. I have my own approach, which works well.

 

My problem since Wednesday was that I have "experimented" with a new "longer-term" approach, instead of my usual scalping method. I have my reasons why I did this, but this might be a topic for a completely new thread, I guess.

 

Anyway, I have to analyze this weeks setup and return to my usual method until I have a better understanding of it.

 

 

PS: Got stopped out with 2/3 at 67 by the way. However, not sure about the Monday up gap...

 

Thanks for the clarification. Here's to better trading days ahead for you. Cheers. :beer:

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IOnteresting day today and towards the late afternoon based on making higher lows I thought there was a higher probability they would squeeze the shorts..

 

On the other side early in the morning session, I thought there was a high probability to get down to 65.00 since there were stops resting there...all together a bit of a conundrum going into the close...

 

I did get short this morning and caught most of the initial swing and did have several shorts from the upside rotations to pick the stops during lunchtime..those are pretty consistent opportunities in my book but they suprised me that they couldn't get further down to test the early lows better so I was not on the final short... The market was coiling but seemed in Neutral until the longs through in the towel...

 

I did not get long, though I considered it, but based on the overnight rejection and the reaction off the Michigan numbers plus my suspicion that the rally yesterday was a short squeeze, I stayed away from the long side. the other reason was I didn't see a spot for good trade location.. just me...

 

Hope you guys did ok..

Edited by roztom

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Morning all -- quite bearish so far, but the delta is curving up here towards the bottom around 65/66, with increasing overall volume, and given the location, near Friday's close, it may be a good buying opportunity. We will have to wait and see. I have taken a small position long here at 66.50 but remains to be seen whether this will pan out now or not.

 

EDIT: left and came back to a stopout just below Friday's close at 65 ... market very risk off so far

Edited by joshdance

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Despite the last long not working out, this has the look of a good rotation approaching IMO. I have bought 61.75, and will only give it 3 ticks to work, but targeting the balance of 67. High risk so not quite a full position, and small stop here.

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Despite the last long not working out, this has the look of a good rotation approaching IMO. I have bought 61.75, and will only give it 3 ticks to work, but targeting the balance of 67. High risk so not quite a full position, and small stop here.

 

Well, I scaled 1/2 at 63.75, Friday's low. Will let it ride to 67 if it will go, and holding the stop at 62. VWAP at 67, VPOC as well, makes for a reasonable target IMO.

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Well, I scaled 1/2 at 63.75, Friday's low. Will let it ride to 67 if it will go, and holding the stop at 62. VWAP at 67, VPOC as well, makes for a reasonable target IMO.

 

Interesting behavior right now -- stop is at 63.25, as I could easily see a smack down and want to get something out of the 2nd half... but it sure is trying to get above 65. Order is at 66.75, or will stop out for a 2 point gain at 63.25

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Interesting behavior right now -- stop is at 63.25, as I could easily see a smack down and want to get something out of the 2nd half... but it sure is trying to get above 65. Order is at 66.75, or will stop out for a 2 point gain at 63.25

 

Out 66.25, 2 ticks shy of target. Ok, I'll stop the live trading feed now and let the silence resume :rofl:

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Again, very strange day... I have shorted 63.50 just below yesterday's low.. the marke tis having a difficult time resuming its move up... my target is an optimistic 54/55.

 

I will give it one point to work, as it really should break 62.25 soon or rotation back up to 67 is likely.

 

EDIT: I closed this, 1 point loss, and will probably reverse to long. Won't post any more distracting updates!

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Again, very strange day... I have shorted 63.50 just below yesterday's low.. the marke tis having a difficult time resuming its move up... my target is an optimistic 54/55.

 

I will give it one point to work, as it really should break 62.25 soon or rotation back up to 67 is likely.

 

EDIT: I closed this, 1 point loss, and will probably reverse to long. Won't post any more distracting updates!

 

Josh - hope you reversed as planned, as we're sitting at the 70 level. I got beat up trying to short at the 65 level...

 

CYP

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Josh - hope you reversed as planned, as we're sitting at the 70 level. I got beat up trying to short at the 65 level...

 

CYP

 

Hey man -- I did not reverse and have been flat since then. The fake below 62.25 and subsequent push back to 62 caused me to question the long, and with all of the wishy-washy, I decided to just watch.

 

Today so far has been, in MP terms, a "normal" day (not common, just the name of the type of day) -- large IB, price contained within that so far, and no directional conviction from OTF type activity since the IB was put in.

 

Great environment for getting totally chopped up if one is not careful. I had enough chop and decided to be an onlooker instead of a participant :)

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Covered rest at 64.50, wanted 62.50 but not enough time right now so I'm flat.

 

Yes, limiting oneself to intraday has its disadvantages when the larger fractal looks so ripe.

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I've been looking at my charts and thinking about the upcoming reports and believe tomorrow won't be so consolidating. Depending on the reports obviously we should see some big moves but I'm going to wait until we have some more information but I would feel comfortable going long for the most part so long as the reports are as expected and if exceeding I plan on being aggressive in the long positions after the initial dump or two. I would be cautious as always but see no reason why would could not test the 1400's with some decent news. Good trend, volume will be there, indicators are looking good, overall unless we receive garbage data we should definitely see up movement in the market. What do you guys think?

 

Nikko

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