It was a short I believe because I was following the ES also for an overnight set up trade possibly,,,
I just bought a Zune, downloaded like 500 screenshots/pictures of charts of different markets.. pretty cool device...larger screen then IPOD.
if you trade what you see, you would look to short it on a momentary blip. but given the upcoming ADP on wed..and NFP friday, the bond boys are running stops to the upside before the numbers, so they are taking away support from equities. a 50 basis cut is being signaled by pretty much everyone affiliated with the FED. I would be wary of getting short.
No need for cynicism, OC. It was (and is) my trade. In AH @ 2208ET, short from 1473.75. Still on. Looking for 10 points. 5-to-1 R/R. Half-size position. My original post disappeared while I was trying to edit it. Not sure why. No intention to mislead. I try my best to post in real time, and to fess up when I'm stopped out. I think you know that.
I did not see who posted it just the call and then went to look at the charts and when I went back was gone. Never got the name, sorry.
Globex price action so far agrees with you...holding steady over 1473. I'm tempted to go long here with a with a four point stop for a 10+ point target...except Globex isn't my thing, yet...
bonds are approaching historical support, as it nears support there will be a lot of cross current volatility.. excellent trading opportunity for dispersion field trades.
having just googled "dispersion field trade," only to come up with nothing illuminative...could you tell me, what exactly are "dispersion field trades? thnx...
the underlying basis for the trade is, the economy is not as bad as it is being made out to be by the media which is in cahoots with people who want the uninformed or overleveraged to dump assets at discounts to smart hands. as the 'fear' fuels runs into bonds, the bonds end up making new highs. But as the highs are made, the price action becomes more volatile, since there is conflicting evidence, and segregation in the populace in regards to macro effects. The wealthy or upper middleclass are still doing quite well. a dispersion field trade takes advantage of wide swings in a derivative, where the trade is entered counter trend and within the ATR a cover trade is placed. The trade is left alone for price action to 'roundtrip'. the entry trade is placed at new highs.