ELPRADO!!!!!!!!!! Holy. Good to hear from you, I was fearing you were wiped out on your short positions Finally a real trader in our little thread!!!!!!!! Good to have you back!!!!!
now what does one do. Do you buy this dip, or is this the beginning of a small pullback. Its just too hard to tell, if things get really bad into the close it will be time to think over this situation.
Let's do some mental backtesting. Just close your eyes and think about what happened the last 999 times the ES went down 0.5% intraday.
They will blame it on anything, as for the iran news, I dont think its because of that. They will find any excuse than the real excuse which is that this market and every market around the globe is overbought.
yep climbed right back up. I still believe that the bulls own this market, even if were down again tomorrow.
<i>"Let's do some mental backtesting. Just close your eyes and think about what happened the last 999 times the ES went down 0.5% intraday."</i> Well... I can't speak for you or <b>eqt</b>, but this is pretty much what happens to me intraday during similar events:
Thanks..glad to be back. I know you missed me. Have been busy trading other mkts. Came back in the SP the last few days...actually got beat up in em shorting (I know that brings a smile to your face). Luckily today caught it good after we failed to breakout.....made back 4 fold. Apparently there is a rumor going around about the terror alert being raised causing this. If there ever was a reason to buy , today is probably the day. I highly doubt the rumor is true..and if so...who cares.
Exactly.....now it is being reported that there wll be no raising of the terror alert. Dow will probably close up 50.