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ammo

Registered: Feb 2007
Posts: 18258

01-02-09 03:34 PM

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

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Lawrence Chan
DaytradingBias.com

Registered: Sep 2001
Posts: 5560

01-02-09 03:42 PM

Extreme buying still ... very interesting.

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Zodiac4u

Registered: Feb 2006
Posts: 319

01-02-09 03:43 PM

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.

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Decel

Registered: Dec 2006
Posts: 697

01-02-09 03:44 PM

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?

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Pekelo

Registered: Aug 2005
Posts: 8949

01-02-09 03:48 PM

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....

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Lawrence Chan
DaytradingBias.com

Registered: Sep 2001
Posts: 5560

01-02-09 03:49 PM

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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