http://www.tradethemarkets.com/video/5minsqueezetalk/5minsqueezetalk.html
Todays pivot points
R2 11279
R1 11244
Pivot 11191
S1 11156
S2 11103
Todays pivot points
R2 11279
R1 11244
Pivot 11191
S1 11156
S2 11103
tradesmart said:Mom – you might find it useful to use the 9/16 period SMA’s (yellow/blue) on the hourly chart to make sure that you’re trading on the right side of the trend – I won’t be looking for long term shorts until they cross-over to signal a supply/demand change (note that the lower crossover at 11050 (futs) was the ‘long’ signal)
Regards
b.haria said:Well what can I say....
Add another 1 to the times I have been caught out by options expiry.
Yesterday produced two significant selling surges... but it didnt retrace back on them. I know Mark J calls this shakeouts.... maybe he has a different system to me when trading volume (obviosly more successful given yesterdays result!!!) but I would call this 'delayed volume reaction"; this means the market is postponing a downside reaction to the accumulated selling volume. This is possibly due to the approaching March options expiration session on Friday.
Add the two significant selling surges to the other couple this week and well you know what I think.
Having said this, I would strongly recommend not going short at mo looking for 200 points as I thought yesterday (albeit 200 pts in a couple of days). I wouldnt probably enter any positions on a long term basis in the next couple of days, more scalp trade.
Its starting to p*** me off the number of times I have been caught due to options expirations. I always say I will not trade in the week, more look for a few points here and there, but with our lifestyles... work, family etc... you always end up forgetting about the Qtr end and dont find out til Wednesday before!!
Pat494 said:Please consider the value of the Dow future 11184 compared to the Dow 11104 that's 80 points. Why there is such an unusually large difference I don't know but I do think it is significant. Oil I expect.............
US markets seem to be on fire at the moment.mombasa said:3 of my shorts got closed at 11,200 whilst I wasn't looking. Still have 3 more in place but it's gonna be tight.
The support trend line is becoming a bit parabolic which is another reason this can't go on.
Mind u, I've been saying that for a while now
Will need to stick more dosh into my account if it does start dropping tho. I'm maxed out.
kriesau said:US markets seem to be on fire at the moment.
Got stopped out on a speculative short around 11175 yesterday and then missed my long entry position
Hope that you've closed out your 3 remaining shorts otherwise it could prove to be tough.
mombasa said:so, is that a 123 forming on the 5 min?
just clutching at straws .....
who the hell is buying this thing at this level after such a rise .....