I do remember a guy in 2008 who would on days with a clear trend post trades like this: [Market has been going strong from say 100 to 110]... "I will short at 130, target 129... that pullback is inevitable..." So many would mock him, but low and behold, the market would hit 130 and then 129... "1 point profit!!!" he would say. And he would get mocked again by all the people saying: "Why didn't you get long at 110, you would have made 20 points, the trend is your friend", etc. At some point I figured that that was exactly what he was doing: his posted entry was his target from wherever the market was at. He was spoon feeding us fantastic trades for months... I'm starting to have a déjà vu
You mean not enough bids at the level you were posting about. There were certainly buyers otherwise you would have no trades.
5130 prints! tempted for a suicide long around here, but yeah....low odds of not getting beaten up! Bears having a party!
Good idea to keep a tight leash on longs, but there are certainly people always looking to get in in a long-only market.