It wants to go up. There is no big selling. It looks like accumulation or there is no one left to sell.
Have you ever had one of those days where you executed your trades relatively well, fairly textbook, and yet you wish you had done more? Or how about almost every exit being an ideal reverse? Or how about your last short trade of the day, when you exited for a 2.5 tick profit, the market goes up a full point from your exit within a few minutes? Keep in mind I wasn't married to that short, I knew there was strength to the upside. I was trading counter-trend (for me). I got out and remained flat because 1300 was coming up and I didn't want to get caught in a news spike. I had no bias up or down at 1300, BUT I knew there was strength to the upside based on the day's activity. Trades between A and B are all profitable. Trades before A were chop. I think I was down 350 USD by the time A to B started. I ended the day at net 468 USD at B. As I said, I exited due to the report and due to it being so late for me, had I stuck around, I would have entered long at points C and D on classic "buy the retracement". I had fairly significant price levels there.
was there any particular reason for the selloff this morning. just want to make sure i didn't miss anything...
hmmmm.... a lot of that been happening lately: http://market-ticker.denninger.net/archives/1162-More-Front-Running-Where-Are-The-Cops.html
I don't buy his argument... I think it has more to do with the fact that Dresdner is, basically, ceasing to exist. That's a lot more plausible than supposing that they can't or don't want to sell the paper.