Well, I haven't read the whole thread but not sure what the courage comment is. This market has really been a pretty normal tape. Nothing out of the ordinary. I think most guys here have some sort of a strategy, so buying all the time or shorting all the time is not really a strategy. I say the odds are we grind higher. The action is really more in the individual stock names and the commodities. If all you are trading is the spoos, I hope you have some good reading material. LOL.
Yeah i dont really trade equities.. Just index and commodities Would be nice to bounce around in the 1300 1250 levels... if we got a dip to 1250 before the last leg of the Ben rally i wouldn't complain.. The real wrench is earnings, if there not spot on, with this Geo risk, its going to be a cluster fuck..
Hum. Bearish order flow? That must be the reason my long swing trades are doing so well and look the S and P is at about 1308. Huh? I will have to look at this bearish order flow more often.
Isn't bearish order flow with bullish price action good? Anyway, buyers look foaming at the mouth and are pushing it higher. Not very surprising because we had panic selling, now we have panic buying. Expect a consolidation (lower) or a retest in the indices. Especially in Europe by the way. Just had a portugal downgrade come across the wires, which created a dip for about 40 seconds which was pretty much immediately and very aggressively bought up to the DH (which is where it closed about 10 minutes after the announcement). I don't like it when prices stall out on heavy volume on the day high and then (afterhours though) immediately go lower. I try to look for the potential graveyards for buyers and this aggressively buying into the close thing in Europe is really a potentially massive fuckup. I don't think it's a good idea to buy into a panic rally coming from a panic selloff, especially not when the market is overbought again also by "conventional" means. The market could easily settle a bit first (probably that will be lower as I said) and then I expect fully to have a new high within two months or less. Btw price action at the time of posting does not look great to me.
I went long this morning on the small dip Market absorbed all bad news... Touched 1302 es overnight, it was just going higher.. NQ ripped all day
Tried a short at 1297s, stopped out. Was going to try it at 1310, but didn't make it up there in RTH and broke afterhours. Will try one at 1319s-1320s. The order flow is still freaking bearish, didn't make any meaningful ground today and yesterday. Time will tell.