I was re-reading market wizards the other day. One traders first big trade was realizing that the govt had artificially held down lumber prices. All these stocks can't be short sold and yet the biggest one day decline ever. My point is the market will go where it needs to go and reverse, good trading.
purely conjecture,but that 130 point dow drop after close and a large part of the down move could have been liquidation for margin calls,there had to have been a boatlod of those,this is oversold and not rallying,50% line from 02 to 07 in spx was 1172,61%fib is 1077,we are having trouble retesting 72,there will undoubtedly be a few more banks die ing off,other than a quick scalp here and there,this es is not worth trading in this range 1132-52 edit : yesterdays es gap on mp is 1157-1162,with upper nip at 71-74
I am just recognizing it now but what we have today is a delayed ADU, we are about 25-30 mins behind the timeline, but still following it. That means we should have a shortable top betwen 12:30-1 pm
I read your post on the ADU timeline. Can you tell me what the 50 represents in regards to the Dow? UP +50? or above the 50 mva?
honestly said I am very confused with todays action. It is soo slow, it looks like yesterday is completely forgotten, no fear, no selling pressure... Was not yesterday big Potemkin village for public?
Ammo: -------------------------------------------------------------------------------- Have you checked out the pivot chat site for JB? and if Yes what did you think?
50 points, but I wrote that when volatility was much less, so it should be adjusted for the new, higher volatility. Yes, I am on Eastern time, just like the NYSE... I will be damned. After we droped 10 points from noon (I wasn't expecting that much) , we did come back in the given timeframe and right now we are making a H&S right shoulder top....
tried,he gave me a password a month ago,couldn't get in, i'm very challenged with making computers work