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Old Jan 2nd, 2009, 10:34 AM   #19
ammo
 
 
Join Date: Feb 2007
Location: chicago
Posts: 20,380
Quote:
Quote from ammo:

sh 98/97 ..93 bid quick scalp...small ledge on MP at 94 from wed,expexting to trade under,add 900, add 02 ,offer 03,,06 stp,,,add 05, move stop to 08
out 08
 
Old Jan 2nd, 2009, 10:42 AM   #20
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,702
Extreme buying still ... very interesting.
 
Old Jan 2nd, 2009, 10:43 AM   #21
Zodiac4u
 
 
Join Date: Feb 2006
Location: New Jersey
Posts: 325
Quote:
Quote from Decel:

I don't see it...
That's because you don't follow daily pivots. Its 10:40 and we are already past the 76% pivot and we are approaching the 100% (13/14) daily pivot. Do you think we are going to the moon? If markets just went one way than we would not be facilitating trade.
 
Old Jan 2nd, 2009, 10:44 AM   #22
Decel
 
 
Join Date: Dec 2006
Posts: 697
1st hour high @ 905.75... If it goes there and bounces back up it'll be very bullish...

ISM numbers were low no? Are we ignoring bad numbers to celebrate the new year?
 
Old Jan 2nd, 2009, 10:48 AM   #23
Pekelo
 
 
Join Date: Aug 2005
Location: Your heart and mind
Posts: 9,686
Quote:
Quote from Zodiac4u:

That's because you don't follow daily pivots. Its 10:40 and we ...
...still haven't had a red candle. I didn't see either the 10:30 crew trying anything, all white/green candles....
 
Old Jan 2nd, 2009, 10:49 AM   #24
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,702
Quote:
Quote from Decel:

1st hour high @ 905.75... If it goes there and bounces back up it'll be very bullish...

ISM numbers were low no? Are we ignoring bad numbers to celebrate the new year?
What we see here is classic bear market rally as all bad news and very bad news are ignored. These news are not factored or priced into the market. They are "ignored".

The "greed" factor and "irresponsibility" of some fund managers will focus on one thing only - Things are cheap now! Buy more to lower average cost! Will win big as the market comes back!

Sometimes that work. Sometimes does not.
 
 
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