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Completing a bell curve. Maybe a test back to the 73-74.00 area?

 

2012-04-25_0755 - slick60's library

 

slick60

 

I don't know. What I want to see is where and how we open, then how the auction progresses. We tested the minor development within the 4/9-4/20 RTH balance (now 4/9-4/24) on Monday and didn't hold. Tested the next on Tuesday and it looks like we won't hold that either. So if we open in the top dev, do we develop some more or start moving to previous higher value? I'll be looking for early direction and any responsive or initiative type activity at the upper balance extremes/balance VPOC.

 

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2012-04-25.thumb.jpg.1e4a0ddbeb25f39d05899e5d87ff30b4.jpg

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Not that it means anything here - but I gotta agree with you there "N". I wonder though if we will fail at the 88.75 level. That may possibly be a number for failure and completion of a pattern. Good day for slick to go golfing. Off to the links shortly.

Bounce from 74.00 says 88.75. I know - no number calling! Gives me something to look at in development for my reasons that I have followed for years and years.

Have a good one folks.

 

slick60

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Out for a 2 handle loss, not a good way to start :/

 

I did the same Josh but got out. Didn't like the look of what it was doing in front of the open. Plus I'm looking at what happens at 86.75. In fairness though, we basically have an OTD so gotta be a little more careful shorting now.

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I did the same Josh but got out. Didn't like the look of what it was doing in front of the open. Plus I'm looking at what happens at 86.75. In fairness though, we basically have an OTD so gotta be a little more careful shorting now.

 

Bingo, did not get my fill at 86 but got 85.50 when it came back up. Looking for 80.50, hoping for 77, praying for 72.25 ;)

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Bingo, did not get my fill at 86 but got 85.50 when it came back up. Looking for 80.50, hoping for 77, praying for 72.25 ;)

 

I should note that 83s is an expected area to buy here, but given the way it's come back fairly quickly and without much effort on 2nd push to highs, it may very well be that we've seen the HOD, and only down from here, depending of course on FOMC.

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Added one back short here at 84.50 ... the market does not look very strong IMO

 

Looking to scale at 80.50 still, and then 77.50, and will still have a unit in case FOMC surprises to the downside.

 

On the other side of the coin, I will be out if it decides to make new highs.

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On the other side of the coin, I will be out if it decides to make new highs.

 

Change of plans, I will be out at near BE on the rest at 85.25, if it decides to go there, and will re-enter short if the opportunity is right.

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Change of plans, I will be out at near BE on the rest at 85.25, if it decides to go there, and will re-enter short if the opportunity is right.

 

Still short, but scaled another at 82.25 ... it broke to 81.50, unfair LVN, and traded back above 82, which it really should not do. Could be a fake, but I took the scale. Market acting a bit funny, maybe because it's "da fed" day.

 

As it stands, I'll probably be flat at 77 if it makes it that far.

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Oh we do love those 82.75's don't we. I have to say, I'm not that sure if we're going anywhere before the fomc, but then the release is in 1 hour and we have plenty of time until the actual speech. Who knows for sure. If the low doesn't hold I think there is quite a long way down to go. I'm less keen on the 77's than I was a few days ago, yet they are still there.

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I added one short here at 83, vpoc and vwap.

 

Gut says new lows unlikely before fomc, so I scaled the 83 off at 81.75, gives me a little more room on my base short. 77 still a target.

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77 still a target.

 

Given all this "work" I've been doing here, I'll set my sights a little lower towards 74, in the event of a nice selloff. This is Friday's low, where it left off before the Sunday selloff (well, Sunday here in the US). It is one of my pre-market areas of interest, and so I'll stick with that, at least for now.

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Given all this "work" I've been doing here, I'll set my sights a little lower towards 74, in the event of a nice selloff. This is Friday's low, where it left off before the Sunday selloff (well, Sunday here in the US). It is one of my pre-market areas of interest, and so I'll stick with that, at least for now.

 

Will stopout at 84.50, breakeven on the remainder. Finding buyers at the lows here but still unable to clear Friday's high. If it does, see no reason why it should not at least retest highs, possibly 92.50

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