Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
My exact entry point...holding.
think u play with the fire Carl!
The bulltards jack up the prices, overnight, through Futures at very low volume, and then sell stocks all day during the Regular Trading Hours.The entire rally from March lows consists of moves like above.Interestingly, today, there was no program trading till 9:45 am. It looks like that the computer were watching to see if the small traders will bite.Only suckers would buy this market, for long term. Just take your profits and run.What a deceitful racket!
TICK is pretty narrow today and looks like we may be range bound... and the Advance/Decline is about 50/50 so dont know if we push higher here or sell off... had a pretty strong open, hard to tell if we will keep it up!
I would like to get a test of 1076 and go long from there, dont know if we get down to that level, but if we come down and test 1078 again, should test 1076!
The bulltards at Wall Street are a nervous bunch. Any small drop in SPY leads to buy program trading kicking in, as seen through sudden jump in accumulated TICK.
extrader, it is doubtful that any meaningful up move will take place during RTH. The bulltards find it a lot easier and cheaper to do it after RTH. The RTH is only for selling by the bulltards to the gullible. Sometimes, there are occasional sharp up moves to keep the gullible interested. The more important thing for the bulltards is to defend any decline, so the distibution of stocks may continue at high prices. There is no point in fighting the bulltards. They will eventually wear out!
Market looks like its in a wait n see moment before the BIG earnings kickoff on Thurs when C, GS, GOOG report!
kishore, why don'ut u just follow carl..and take advantage of this market
andi, having lost enough during the summer, I am afraid of this market. I can't justify playing the up trend and it is too early for the down trend. As they say, once burnt twice shy.This market has been a tough master. A real brainer!
this market was way easy to trade (long) if one didnot have the bias reading awful news/economy etc..if you shut yourself from news, the chart was a no brainer...their lies the irony..carl did amazing..i should have given his forecast some thougth...well, it is the speed of recovery that completely took me by surprise
andi, you are absolutely right. The charts are no brainer.But, most of us are too "smart" to shut of the news and quit reading all the bad news about the economy and listening to the "experts".Also, as we have reached the target today, it would make sense to go short at this time. But how many of us have the guts?
So many "perma-bears" have followed the young kids and their blogs playing the most dangerous game of "Pick the Top" anticipating P3.Carl is the only guy that I have come across on the Internet that actually "listens" to what the market is telling him and TRADES accordingly.All of the "other" perma-bear bloggers continue to cheerlead all of the bad economic news... Unfortunately, markets move off of EXCESS LIQUIDITY and not off basic economic fundamentals. The latter point is a total "rookie" mistake that so many young people make.Kudos to Carl for being OBJECTIVE and trading the market accordingly without any inherent BIAS.:)
Post a Comment