a bunch of daytraders were caught short and kept averaging up. it was ugly. i had a good day today but a few traders i know got buried from buying the qid or shorting all the momo's. they are all holding overnight.
this was a great day for using market profiling. when I saw the up volume head above 82%, it was easy to figure we would close at or very near the high of the day.
The market was down large 4 days straight, nearly 10% off across the indices. One would have to have been awfully greedy to have held short last night unhedged..
How does this relate to ET members? Just because a few of your moronic friends did poorly and you happened to get lucky doesn't imply anything about ET.