Exactly.... WAAYYYY too much complacency that daddy will (or has) make every thing alright. Last trade of the day S @1214 x1 Stop @1217.50 No specific target, flat before 4pm EST one way or another. EDIT: Stop @1213.50 EDIT: stopped. scratch, flat, and done
The push to prevent 1200 break on Sept contract tells you something. Some big Gorilla is trying hard to prevent the break.
I hope you're a scalper because, unfortunately, that "fast and furious" buying frenzy ain't sticking.
if you take a quick peak at the market depth on Globex you will see thousands of orders on both sides on that one. Bid/Ask was LOADED TO THE NINES. I think it was just some quick profit taking via stops just under the 1203.25 handle. IMHO
Fed has asked goldman to give aig a loan, tell me someone did not know this and was accumating down at 1200....
Nah, but i do like to examine both sides of the trade to get a feel for whats beyond the door in the Globex que. I don't scalp. I daytrade and swing trade. I admit. I just didn't have the balls for this one. I don't like uncertanty. I like a sure thing. for me its better to stick with me trading plan then to chase the market.