you can't argue with the ultimate result of all forces on the market, which is price. if you look at whats happening on the economic scene, its a credit crunch on only people without wealth. Even real estate is isolated to the flippers. I sense a very good opportunity in the market, will be looking to buy into any significant declines. Will add position trades, at 1380 if we can get there. 1380 is a coast to coast target. technology rebuild and earnings should continue to enjoy gains from the world rebuilding itself. Long term rates are hitting levels, that favors speculation again.
isolating inefficiency in the markets. One of ES's prime inefficiency is the need for it to trade coast to coast. Meaning the price will bounce off monthly highs or lows and trade to the other end of the range. so making notes of month highs and lows and daily highs and lows in reference, will give indications of overall direction in price momentum. the lowest risk for stops being hit are at daily highs or lows and monthly highs and lows.
market participants have no choice but to follow this strategy considering being stubborn can lead to devastating losses secondary to the scales in price movement over yearly monthly daily timeframes. its the reason why coast to coast behavior exists in most markets. Coast to coast behavior is a survival instinct that is either learned or you wont last as being a participant. so understanding this trades can only or should only be made at daily highs or lows or monthly highs or lows or yearly highs or lows in markets to reduce risk.
Open E Cry is surely going down the hill with their service. Just to add more salt to the situation, they decided to screw up even further. Once I learned about the situation that something was wrong this morning, after re booting my machine and getting the same output I called Open E Cry and first the lady did not even acknowledged that there was a problem. I also tried their on line help, I IM 3 different representatives and none of them answered .... ever. The telephone lady told me she can only buy or sell my orders in a voice that sounded that I am asking her for a fucking quarter to buy crack. When I asked her to inform me about the status of my trade (were they filled and at what level, she left and did not come back for 13 minutes. In the meantime, I called them on my cell and asked another representative to cancel all my orders.. Thinking that i was out of trouble relatively speaking, I turned everything off and came back around 4 o'clock. Unfortunately, to my utter surprise, one of my orders was not cancelled!!!!!!!!!!!!!! I immediately called Open E Cry and was told that everything had been fixed. I asked the guy then how come my cancel all order which ws placed 4 hours before was not executed. His response was that I could do it now. What the fuck is that? I understand that every brokerage has occasional hiccups, but please do not treat me like a fucking child and that kind of unprofessional attitude is simply unacceptable in this or any other business. I am in themarket M-F and AH and I place anywhere from 3 to 10 orders a day, biggest being 10 car at a time. I would think that a brokerage would appreciate the business I am generating for them. I guess not. BTW. This is the second time I have had issues with Open E Cry. I did not make the first one public thinking everybody has a second chance. But what happened today was simply too much. UPDATE: Last week, my entire day's profit (around $1200) fucking disappeared. I called and the representative was mumbling something incoherently about problems and after checking records ....restored my original balance. That was fucking strange and illustrated how amateurish and unprofessional this place really is. I wonder what next..... but wait, maybe there is another solution and we all know what that is. Now,where is that phone to _____________ (fill in the blank), that will appreciate my business and treat me with courtesy that is expected when two sides conduct business with one another. What is even more ironic is that for the last year I was actually promoting Open E Cry on ET, telling others how good they are and recommending them to others. Shame on me and shame on Open E cry!
some days chicken some days chicken feathers....today was all chicken.....nq....down up down up very clearly...brother loses, why...he thinks/anticipates....I take the signals when the special lines cross.....no thinking allowed....the market only chops and runs...today it ran....down up down up....end of story....nq intraday........when you have no direction bias and know where the high percentage safe stops are, and don't even dream about countertrend trading, and place all confidence in system and sit on your ego, you can do some nice stuff........happiness to all...
Once I saw the bounce was reminiscent of a choppy day, I was thinking mid-60's again (take out morning high, and then get smacked back down). If it had hit 72, I'd have expected it to go much higher, more like 80. I still can't buy entirely into the rule of 10, but that 10:30 reversal thing--not too shabby!