Bro, when you responded, and I swear this is true, my subscription to this thread email told me that: EqtTrdr has just replied to a thread you have subscribed to entitled - Who's fading this one? POLL - in the Trading forum of Elite Trader's message board. You gotta come clean, bro.
we're different people Eqtrdr has been quiet for some reason. Looks like all the gap-faders got squeezed this morning pretty badly..markets up big cause time 2 buy massive rally here thats the problem with being short -you get maybe one or two big selling days but then the buying simply resumes and you are forced to cover. Very narrow window of opportunity to make money. The buying resumes cause there wasn't a very good reason for the selling.
I think what is going to be important is the volumes at the end of the day and whether we close near the highs. Today is Monday after quadruple witching, so I normally have no idea what is going on, what funds are buying/selling options etc. Better picture will emerge maybe tomorrow and after Fed. Meanwhile, I will continue to wait to short, as I still expect a huge drop on huge volume (total capitulation) before a meaningful rally http://lauristonletter.blogspot.com/
3:00. Let us see who has conviction to remain long going into the housing data tomorrow. It will be an interesting and revealing close, IMO.
Seems to me the housing data will be followed more than the cpi #'s we had on Friday. I think the markets stay positive all day, it just feels like one of those days the markets just trend higher and higher.
You People are F*ing crazy. Stoney's orders: Download "This Is The Day" by The The... Turn it up LOUD and trade.... Don't fade. Semis are a problem here and we MUST OVERLOOK it and move on there's a chance to sea saw both China and us out of this stagnation and as traders we don't get a chance to make a difference often. Don't sit around and wait for others to act.....
seeing as much strength in these markets only to see the Semis trading down is a big problem. Nearing intraday lows.
i faded the s&p via SDS around noon, but out now since i have to leave early. this was a pretty boring day w/ low volume, cant imagine the mkts taking out their morning highs on this volume.