who saw the sell program hit

Discussion in 'Trading' started by OVERtheLINE, May 1, 2003.

  1. when we broke thru .618 back(905) from fridays low to tuesdays high?
  2. the meltdown started yesterday at 3:45...

    i just can't believe the sellers came out so aggressively...

    i also can't believe i was unlucky enough to pick a stock that rallied when the whole market got run over by a train...

    ahh, the naswhack...
  3. Dont worry longs.... PPT wont let you down!!

    just some really funny looking action going on..imo
  4. Just another example of people seeing different things. I see your point (now). It was a good Fib support level.

    But at the time I saw the hard breakdown below the support at 910 (likely sell stops lurking there aided by eco news right about then). This followed with a very minor pullback in the 906-907.5 area on the 1 minute timeframe and then hard selling again when we broke down out of the pullback.

    Of course I talked myself out of going short around 912.5 on the short timeframe opening range break. I was still peeved at missing the break out of the rising wedge late yesterday afternoon. I guess that affected my judgement this morning, thinking the move was almost over.

    Once we broke down at 910 I could see some serious trendline support just below us. Also the shorter timeframes were very oversold at that point. In hindsight I could've snagged a bit.

    One thing I've learned is when I chase the only thing I catch is my tail. The time will come again (waiting and watching the pullback).

    It's funny. When I started trading every move was a trade. Now, I've become super-critical of every opportunity and miss a lot of stuff. Perhaps the pendulum will swing back to the middle?

    (Whew, feel better now..)
  5. Oh Lord, I see another wedge forming. Or is it a flag? (11:20 est 1m on ES)

    Damn things are all over the place..
  6. tmb


    The e-mini just went to sleep at 11:15. Very low volume, even for this time of day.
  7. tmb


    Never mind. Apparently it's a Globex problem.
  8. dgmodel

    dgmodel Guest

    mkt was tanking and nothing really sold off for a decent short... i made a majority of profits on CB on a long... go figure...
  9. well, i'm glad another trader made some cash on the upside, instead of that MM holding a buy order in hand...:D
  10. DHOHHI


    < the meltdown started yesterday at 3:45...

    i just can't believe the sellers came out so aggressively... >

    I can't believe it took soooooo long for the market to selloff. Was way overbought IMO.
    #10     May 1, 2003