Now let's see if we can work through the remaining inventory tomorrow for a possible WOOOOOSH day! :eek:
There is still remaining held inventory.......not all neutralized yet. If the remaining inventory "flips-out" of their remaining positions fast in the trade days ahead, we will get some serious range extension to the DOWNSIDE.
Price trades to SIZE.......there is still A LOT of SIZE below current price (remaining resting held LONG inventory). Sellers that have carried down massive short inventory from higher levels NEED that size (resting LONG inventory down here) to help neutralize some of their holdings (carry your position to where you know you have an exit......SHORT 940's/950's in SIZE and carry them to a zone where there is resting LONG inventory in SIZE for your exit).
I agree, there was about 100k net longs sitting there from 6/23/09 and there's still >20k there from the 886 level yet price blew past there all day today without much reaction to the upside. what stops you from taking shots at longs since cd div confirms? if you were, you would have been blown away with losses all day long.
All the LONG scalp trades off 882's worked both AH and cash session on Sunday AH/Monday/Tuesday (four trades total)......the last time price traded through 882's near EOD today there was no order flow transition signal. All four LONG scalp trades at least worked out for a few points and one of them had a nice run. Which trade set-ups are you talking about.....I don't see any set-ups at all where a trade would have been blown away?
There were a few "weak" initiated buy signals at or above 882 today but the setup was not complete (everybody's criteria is different, granted). There were two decent initiated buy signals prior to EOD, both below the busted 882 level. You'd have to go back quite a bit to find the CDV on those, don't know if I'd trust it as part of the setup tho.
AMT, I am looking at the CD zone created when price hit 886 on 6.23.09 That delta zone has still yet to be neutralized, so I was taking long shots when price traded back down to 882 and below once I saw some initiated buying. However, each time the initiated buying was quickly put down by stronger selling thus neutralizing and then soon breaking each low on CD and subsequently stopping me out on each long attempt. How do you prevent this from happening? http://content.screencast.com/users...f9-4ae2-bb2f-3f1cdecf7017/2009-07-08_0143.png http://content.screencast.com/users...e5-43d5-b5e9-965578dfd182/2009-07-08_0147.png Thanks for your response in advance. -Monday