Wow, crazy crazy day! I was actually long near the bottom and short near the top (both near the open and before the close), but ended up with minor scalps because the swings were too wild for my taste... ... and the fact that I got my ass handed to me on a silver platter yesterday afternoon because I placed a short thinking we'd double-top and had to walk away (job) without a stop... re-couped a quarter of my losses, but I'd be laughing about yesterday's butchering had I had enough guts to hold my positions. I need your balls of steel ammo. 30pt verticals aren't my thing I wish they were though. Btw, great call today Pekelo!
He asked me yesterday, and I said TOMOROW. Was interesting how many points over the cash morning high we ran before the fall at 3. 11-14-08 01:05 AM Quote from Pekelo: Yeah I wanted to short the Rule of 100, but we never made it there! What gives???
i'm sure we've all seen posts of the similarities with 08 and 1929,the 1929 things i've read showed a ton of volatile days like this,a couple of scenarios , 1. there is still a lot of liquidation going on,or 2. that their are a lot fewer supersize players out there,and they can move it farther with less resistancve than before from there counter parts
Hi guys A question please. I often hear about pivot points being used for ES trading, but have so far not used them myself. Are there different definitions of pivot points? Do some people calculate them from previous days open/close, and some people just name historic highs and lows pivot points? Would also be interested to know which pivot points the floor traders use, and where I can find them or how I can calculate them myself. thanks for any input! Andy
That's an interesting observation. With 3 of the old "big 5" belly-up and the 2 others hit by the train of the wreck, with countless hedgefunds imploding, I guess there's a void to fill and that might take time. Or this is only the intermission before the world-of-pain we're headed to if wave/saliva/b1s2 are right. I guess we have to wait for the govenments to stop catching falling knives? their blood splatters are turning everyone red!
The rule of 100 is nothing new. I have discussed it before and think it has more merit than the rule of 10, especially on the NQ, and also on the ES, the Dow, and even the Hang Seng.