Discussion in 'Trading' started by S2007S, Nov 21, 2006.
Good timing, S2007S!
that cant be right...back in the summer we tumbled 2%+ a few times. happened before spring as well if am correct. some1 cares to check? am too stoned right now.
<i>"back in the summer we tumbled 2%+ a few times. happened before spring as well if am correct..."</i>
Must be a heavy indica you're enjoying, <b>Bit</b>. ES would need to close down -28 points intraday right now to register a -2% day. Don't recall any of those in the past year, although I could have missed one in review.
As for the -1% days? It seems like there've been a few ES days of -13.5pt days at the 1350 level, for example.
That said, there is clearly outside intervention in these markets. Blatantly. No way under the sun do they go straight up on declining volume = thin air without appropriate corrections.
We can trade knowing the "Greenspan Put" has evolved into the "Bernanke Put" in 2006. Then again, the biggest range days from 2000 - 2003 were mostly bear-market rallies via one-day moonshots. Some of them were spectacular, including a +499 point Dow move intraday, range between the bells.
Intervention's been going on for quite some time, imo. Just part of the overall game we play
we almost got there back in july..on the 7th spx opened @1288.16 reached lows of 1264.66 and closed @1265.29: 22.87 from open to close.
on may the 17th spx opened @1291.73 [highs as well], lows @1267.31, close @1270.31.
from highs to lows on this day we have a 24.42 and that's ~ 2% move. of course it aint a close but near enough.
i cant get hold of data for futures but i bet we had a 2% down close in the summer...futs tumble harder usually.
are we there yet?
when do we hit the magic 1k number?
what is it now? like 944 days?
how many 2% UP days have we had recently?
Ok conspiracy theorists, tell us specifically how the fed is manipulating stock prices. M3 charts only make you paranoids look silly
I like to use the bullish % index - when we get over 70 and we start falling from overbought it can be a strong pullback.
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