Is today the day?

swltch said:
Hi,

I was under the impression that trading might resume earlier, if (and I guess that's a big if) prices would go above the limit again, ie above 855. Is that correct?

Also, is anyone aware of any indicators as to where the S&P would be if it were still trading?

Cheers

S
Click to expand...

Trading is not stopped ... but you can not sell below the limit ;)
 
bubble-banks.jpg

http://www.ridingthedax.com/wp-content/uploads/bubble-banks.jpg

Great stuff Carlos !
 
arabianights said:
Today is a great way to make money as you cash in your long term position. Why on earth anyone would day trade this without a lot of capital behind them defeats me.
Click to expand...

Why today, or any other day, would be any different than others defeats me.

Support is still support and resistance is still resistance...
Supply and demand, nothing more to it.
 
firewalker99 said:
Why today, or any other day, would be any different than others defeats me.

Support is still support and resistance is still resistance...
Supply and demand, nothing more to it.
Click to expand...

Disagree with this to an extent. When there is a high degree of exuberance of pessimism then technical s/r levels are less likely to hold as good as they do at other times. Just my opinion. Don't want to get into a fight with anyone.
 
firewalker99 said:
Why today, or any other day, would be any different than others defeats me.

Support is still support and resistance is still resistance...
Supply and demand, nothing more to it.
Click to expand...

Where is the support and resistance?
 
Last time, as we were LIMIT UP, market stopped 30!!! S&P points up.

Today, we traded already more than DOUBLE the volume around the LIMIT.

So it will be a show, when the U.S. opens :eek:
 
firewalker99 said:
Why today, or any other day, would be any different than others defeats me.

Support is still support and resistance is still resistance...
Supply and demand, nothing more to it.
Click to expand...

I just find it hard in these conditions to run a trade. For example, say I was short, I would find it hard to run a position when the market goes down 12 and then back 11 and then down another 10 and back up 9, etc. It's a little better now but this morning was quite hectic.
 
trader_dante said:
Disagree with this to an extent. When there is a high degree of exuberance of pessimism then technical s/r levels are less likely to hold as good as they do at other times. Just my opinion. Don't want to get into a fight with anyone.
Click to expand...

No fights... but would you say the same when there is a high degree of exuberance of optimism? Anyway here are some charts of this morning. Don't seen anything other than perfect S/R switches :) These are "late entries" obviously, but I suppose most people appreciate a good night's sleep and on the NQ and ES trades occurred around breakfast time.

Example 1: oil
See oil_crude.gif. Entry 69.3 stop 69.8.

Example 2: NQ
See nq1.gif and nq2.gif. Perfect short off 1205. Stop 3 points.

Example 3: ES
See es1.gif and es2.gif. Perfect short off 875. Stop 2 points.


"I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up."

gamma said:
Where is the support and resistance?
Click to expand...

See charts...
 

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BSD said:
I think liquidity might be a serious problem, ie if you do a bit of size, and IF we go into a freefall - not saying that we will, but if we do - then one might not be able to get out anywhere near to where one would have normally expected to.

There might not be any buyers when you need em.

So, I am trading, but with very small size today.

Also, exchanges / trading might get halted.

Which would leave anybody with a position open potentially holding the bag.
Click to expand...

That is the problem today, what is different today though.

So, softly softly is the name of the game, playing it - if at all - with very small positions, and with a good deal of risk awareness so that we won't have to start a rescue fund for anyone here next week.

;-)

Dangerous day this, particularly ahead of a weekend.
 
Thanks firewalker99,
Unfortunately for me I don't trade any of those markets, However I am sure traders will benefit from it and it keeps this thread active with comments.
 
gamma said:
Thanks firewalker99,
Unfortunately for me I don't trade any of those markets, However I am sure traders will benefit from it and it keeps this thread active with comments.
Click to expand...

Thanks... it's the principles that count though, these charts are just illustrative... I'm sure you could find the same on your markets.
 
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