You know what ended in disaster? Your constant bashing of Bright(RIP). If I remember correctly you said you two were friends but ive never seen anyone bash him like you did. With that said, just because I like you so much I beg to differ....... Top(believe this was the exact day): http://www.elitetrader.com/et/index.php?threads/doesnt-anyone-remember-2000.106444/ My personal favorite: http://www.elitetrader.com/et/index.php?threads/the-stock_trad3r-2007-2008-market-recession.106704/ And of course why not the bottom too: http://www.elitetrader.com/et/index...id-enough-to-be-shorting-these-levels.154882/
One day will wake up and see a repeat of 2007 all over again and will see another repeat of a market collapse like 2000 and 1987....there is no way possible to ignore the fact that it will happen again...this is one of the longest bull markets in history and guess what...they always end...no bull market lives on forever...at the stage the market is in now this bull market is closer to ending than continuing.... The fed is to thank for their worthless money policies in keeping this bull market going for as long as it has...this is not a normal bull market cycle by any means...this is a fed driven bull market that no one in their lifetime has ever witnessed before....
Don and I were good friends. We shared many dinners together. I ribbed him as much in person as I did on here. We were both professionals. It wasn't a problem. I was devastated when I got the text that he passed that morning from one of his head traders. Leave Don out of this. You made a bad trade. Move on.
I'm still looking for an angle on the whole system, and others are looking at what I'm looking at. If they see it, they shore it up. I've been watching/trading price action for many years. The market is moving as if a large buyer without any consideration with the use of technology is preventing true valuation. I see it in the way ticks fly and move in micro price structure. A few overnight sessions ago. I saw volume being dumped and being absorbed and when price tried to rise that volume was sold back to buyers bracketing price within 3 point range. If it is being propped up, how long will it last?..the answer... Sellers/Shorters When selling stops price will drift down or stop moving up abruptly as it is. Its zero sum, so any naked short who isn't well capitalized is being goosed. They are selling and being forced to buy at higher prices to cover. With no sellers, the fuel is gone. With no sellers, the buyers have to buy from other buyers who aren't willing to sell. If the buyers sell inventory, they aren't naked short. So the 'proppers', continue to have long inventory on books. What this implies is the market will be allowed to fall, when things look good. When things look good, no excess short fuel, if anything public is getting long. It would take something even the central bankers couldn't handle. Something so innately destructive, that it collapses whole system. The answer is debt and unfunded liabilities, debt gets to levels that even minute increases in interest rates makes financing a mathematical improbability. At the present moment, CB's have a ponzi scheme in debt between each other. They are buying each others debt. If things start looking good, interest rates start creeping up. And the world governments can't afford higher interest rates. The easiest way to drive interest rates lower is to create chaos in other asset classes. Only offer one door or option where money can flow into.
Spectre...I'm not nearly as nuanced as you are wrt the microstructure and the PA, but on a "gut level" I felt the similarities to Oct 2015 starting several weeks back...I posted about the way PA shifts at some stage of the advance from a "two way" market with some semblance of volatility into a one way trade that just devastates the shorts because there is no "back and fill". I suppose it really took form around Mar 1 after the sell-off on Feb 29th and some follow thru selling down to 1920 in the evening session...Once the buyers came back in there has literally been minimal levels of overnight activity and those "pinned" overnight ranges became the norm.
If you check the monthly chart you will see Jan/Feb/March is printing a perfect v reversal, the completion of the up move is very likely to take out all time highs, any moves down now are just pullbacks into this final leg up. The people that control the markets need to get paid and with the size they have there is only one place they can fully liquidate. The market absolutely does not control the fed, sentiment will affect the fed's behaviour but since GFC the market has been the feds bitch and it continues to be. The new all time highs coming in Q2/early Q3 will not be sustained without further stimulus. There will need to be sufficient fear and panic to justify further stimulus to the people hence I don't think the new all time highs coming will hold. There could be a last pump up for the final liquidation either way anyone with anything remotely resembling a tight stop will be liquidated. Further stimulus wont happen though without higher powers than the government approving it and given what has happened since GFC I don't think they will want it, they would prefer lower asset prices to re-buy. End game for markets is not here yet, people were calling at the time of GFC they have been calling it last 2 years, all of them run over until pay day. Trump odds are shortening, UK bookies quoting 5/2 and 4/9 hilary. Neither of them can stop the end game but trump would likely speed it up. By end game I am talking about marking down of assets >50%. GL.
Very interesting. Above ATH I am not confident with this forecast as we didn't see reaction/s at Nasdaq's previous support levels. Price still edging towards it in a very eager way to get a tag, let's see what happens there.
I wouldn't be too concerned with the Nasdaq. Those with the deepest pockets play in the thicker broader based S&P. The Nasdaq, Dow & Russel are the S&Ps bitches. I also wouldn't be too concerned about support or resistance either. That's just a level/area that retail (no offence meant) will enter at. The bigger picture is who banks and how.
As there is no way of knowing big player's stance, there are lots of big players BTW, I play with support & resistance, win some, lose some
I don't know what you know. All i know is in trading most think they know and the majority get run over. I don't doubt that support & resistance can be used as part of a successful trading methodology if used correctly. With reference to this thread I am talking about THE apex predator. Look what has happened since GFC. How do you think the apex predator is positioned? do you think they are short? GW