Well, my CL indicator was pointing up and my ES indicator was pointing down. I 1st took a short on the ES, when the trade stared to go against me I looked at CL and my indicator was pointing up and CL was going up. So I went long on CL and brought down my stop on ES. I was able to take more profit on CL than I lost on ES so it ended up being a winning trade.
That´s one of the most ridiculous days in the last 9 months. SPY volume at the lowest level for weeks. Apple and Google aggregate volume is laughable.
Great call, I was watching the market trade in a range yesterday afternoon. I was already up for the day, but not enough profit for my liking so I decided to do one more trade which was a scalp. I also shorted at 97 but set my loss to be BE for the day and this was and is my last trade. The market took 20 min to come within .25 of my target. Then the bitch hit my target but I did not get filled. So at this point, I decided to move my stop down to BE since I did not want to take a loss after getting so close. I turned on the TV and was watching Jim Cramer talk about DELL but I could not concentrate on what he was saying. Also, the S&P was basically frozen, it could only move around 5 cents against my position. Finally, I saw it move down, and checked my position, and my target filled. This was basically equal risk vs reward.
Did not feel comfortable in the trade for a while, but it seems like support at 1196 is holding. NYSE TICK is strong, most sectors are up (although not very strong) and higher timeframes confirm strength. Since my stop is placed it is allowed to be hoping and crossing fingers, right?
Cash gaps are long filled, so yeah, let the R10 boys do their thing. Personally I'd like to see YM closer to g.f. before fading, but so be it. Good trading.
when the volume spikes are on the rallies, represents larger sellers than buyers,you might be right but these are your opponents ...... response to L F post