We're heading lower fellas! Short 10 lots @ 1478.50 My crazy projection is that this sucker will go down by as much as 10 points or more. My alter ego says "keep dreaming".
thanks for sharing that synic ..& he may be right but i don`t have much respect for gary b smith as a futs trader whatsoever......imo he`s nothing but a salesman out of a cramer mold.
Go North re-test 1476 and bounce, otherwise it's only 1-2 point stop 1.43pm momo building, indicators rising needs to hold pivot
Here is a link (not that I would necessarily get it from this source). http://www.amazon.com/Dream-Profita...5982437?ie=UTF8&s=books&qid=1189099440&sr=1-3 Good book on price action, but Smith would be the first to say that not all of his indicators and other approaches would work anymore. That said, there is no one book that will teach anyone how to make money trading the S&P. The best teacher is experience.
the best teacher & the only teacher is putting in your time....day after day... ....thanks for the link. that active lo is still bothering me & keeping me out of longs here at the 50%............i`m a bit above my quota so i`ll be looking for cherrys only.
On choppy, trendless days like these, unchanged represents the fulcrum; price extremes do not last, and price is magnetized back to the previous close (used to be the open, until overnight electronic trading changed that). I would not at all be surprised if the afternoon rally reached in the low 80's and then closed right at the 1476 area. At least that's how I'm playing it.