lurkerlurker
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Yes.
Yes.
lurkerlurker
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While the fat finger report may or may not be true, if it were true one would expect a decline to follow, no? If strength holds into the open as it looks like it is going to....
Also, the rally in the US caused Asia to rally overnight also, which brought Europe higher this morning. Imagine if one persons mistake had caused all that....
Does anyone want to look up the S&P Time and Sales to check?
Also, the rally in the US caused Asia to rally overnight also, which brought Europe higher this morning. Imagine if one persons mistake had caused all that....
Does anyone want to look up the S&P Time and Sales to check?
AC007
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lurkerlurker
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Some are talking about a 2d rally into "lights out" on Friday .. all because of a little double bottom....
I hope they're right....
Interesting. Atilla's system (where is he anyway) has flashed a buy on the hourlies, but I need to see strength above 450 at the open before going long, initial target 500. If it was fat finger, and the credit fears worsen, we could be in for some serious downside also. Bear in mind yesterday made a lower high and a lower low.
with all due respect you should ignore the why,wherefor's and how,the Dow rallied....the fact is it did..All that should be of concern is where we are now on the charts and not try and second guess the market....if it rallied 200 pts in such and such time because of an appearent mistake,it may not necassarily follow that those trades will be unwound...."Fat finger syndrome" has happened many times before,and without knowing the specific date you'd never recognize that particular day on a chart......As ever trade what you see...
lurkerlurker
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Thanks Steve. An interesting post. I'll try to leave ponderings off the threads - sorry. Yes, it rallied into the close but made a lower high and lower low also.
I'm watching 450 long and 415 short, with 40 point targets. I will get entries most likely a few points away from those numbers as I would need confirmation...
1h trend is still up.
I'm watching 450 long and 415 short, with 40 point targets. I will get entries most likely a few points away from those numbers as I would need confirmation...
1h trend is still up.
lurkerlurker
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Shaken out of a short at 15 for -10.
lurkerlurker
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Did that again for -11. Net -21 for the day.
Long on a break of 450, trend is up, no more shorts.
The big cash level I and probably others are looking at near term is 13500cash. not sure what it is in Futures language .... there are some bits before then but the obvious one is 500cash lets see ?
also had 355**, 412, 430 465/7 bits really but lets see
lurkerlurker
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Long 32, stop 20, target 50.
lurkerlurker
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Closed at target for +15 net of spread.
u got away with that one m8....why have you reverted back to such **** poor risk/reward..?
brutusdog
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Atilla
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Hi guys,
Playing catch up here. On the charts I think we are trying to break out to the upside but my gut instinct says the markets still has some way to go down.
Bulls are trying to resist falling below Fib 23% level imo but I suspect we will test 38% 12750 & 50% 12350 levels on my weekly charts.
Last time I felt this way last week after a small rise it tanked.
So as Steve says I think we will see a false break out to the upside or a little rise before another significant fall to and below 13000.
So I'm watching with a view to entering in a short position. But as I say TA on the 4 hour charts looks bullish at the mo.
firewalker99
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Hi guys and just poppin' in, will try to have a look at the charts each evening as far as time permits.
First of all, excellent comment Steve.
Just felt the urge to respond to certain "fat finger" syndromes... I don't really listen or act on any of that, but in all due respect if somebody mistyped and would've bought 5400 lots instead of 54 it would at least show up in T&S and if it's an hidden or iceberg or any other type of order that has been (partially or not) concealed it would be visible on a 1-min chart which is obviously is not.
Nevertheless, back to reality, there were obvious signals imo where the professionals were buying yesterday. There even was an excellent warning bar just before the move started if you paid enough attention. Whole day supply was getting eaten up by the professionals. Notice my circles on the chart, they all appear in a certain price level: a support zone. About 30 minutes before the sharp rally there was a very strong bar on huge volume, another signal that demand was overcoming supply. Now when all the supply is gone, price has only one thing left to do, which is... rise. And it did.
Have a look at the chart.
That's it for me for today, good luck everybody and thanks for the PM's everybody which I will attend to later on don't worry I'll try to reply in detail over the weekend.
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blimey....that was death by a 1000 cuts tonight...hit my target....closed at 485 for +117....reversed short now for tomorrow...
