This thread has given me useful information: now I know who has been shorting ECH6 at 1.22 "resistance". Starting at 2006 New Year, macro hedge funds immediately and quickly bought EC up 300 points. The funds have spoken clearly and loudly to those who would listen. To those shorting "resistance": keep shorting; someone has to sell the bottom of the new range.
Dude, you couldn't see the smart side of a trade to save your life. You're simply someone brainwashed on one side of a trade for no particular reason other than it justifies the position you've already taken. Go back to the chit chat forum and your anti-semitism filled posts.
Thanks for alerting other postors to my winning trades. I closed long CLG6 on 1/19/06; closed long GCG6 1/20/06; got long SBH6 (sugar) on 1/17/06 then closed out on 1/20/06; still long ECH6. When I entered long ECH6, I had thought it would very quickly take out 1.22, so I had first thought small spec would sell out at about 1.2280. Instead, short small specs continued to short 1.22 resistance; since small spec shorts have continued to try to pick new range top, I've changed long ECH6 exit: staying long ECH6 to at least 1.24. At that point, small specs will finally surrender, as--at that point--1.25 will seem inevitable to even them.
Well to help with everyone's need for a good laugh here I am still short. I am still not hurting enough to be convinced. Once the $ Index convinces me, I will get out. I still have the USDJPY in bullish territory, and the USDCAD is a great buy at the bottom of the channel. Gold is getting ready to correct big time, not that I really care, but it will move down. To top it off, the US Indices are getting ready to move up substantially. Interesting to me is the volume flow on this up move. I see big green candles, but volume is WAY below average. Guess those CB's and Hedgies are hiding their purchases somewhere. Hey I am only down 183 points, we will see all that and more come back in the next four days. Take care and be nice to each other. DRT
Which ISV do people use for the Euro on CME. I like to be able to have 2 limit orders up (one buy and one sell) at all times so that whenever i tarde i just need to hit send on the relevant ticket to get filled. Sadly have just looked at TT and dont think it offers this functionality. Any suggestions appreciated.
Tuesday, 1-24 Well after the close of the NY session today not much has changed on the surface. I am still down 158 points per contract. Under the surface things began to look a little better. The dollar index closed up and is within my tolerance zone at the bottom of the channel. I'd like to see a monthly close above 89.30. This would be a rather bullish signal for me. The USDJPY close is still bullish for me also although I was hoping for a close around 114.75. The US indexes are still looking like a strong move up and even Oil and Gold closed down. My CAD position saw signs of profit, but pulled back. I am still bullish USDCAD and have a long postion out of the base around 1.15. Lot's of chaos though and another move up is possible. Looked like CB's buying at the base today. There is solid buying at 1.2290- 1.2300. If we can get down thru this level, I would feel better. Good trading everyone. DRT
Bollinger unbelievably tight on hourly charts. There will be a breakout in some direction in the near future. Good thing I have the tight stop on