Wednesday, March 17, 2010

sold long unit at 1161.50


Forewick said...

Carl, It could have been worse. You could have been long ND.

Teich said...

Looks like the market reacted finally when prices went high enough (ES 1165). I am sure the first few dips will be bought :)

Kishore said...

Teich, the computer algorithm is very simple. When the selling volume is higher during the dips, then there is more money available to push the market higher than before, because the up moves are on a lower volume. This way, the same buyers, i.e. the computers, can keep pushing the market higher and higher. Presumably, there are not many other participants.

Teich said...

Let me guess -- tomorrow's trading range is ES 1157 to 1170 again?

Wags94596 said...


The market lost its bid as soon as Paul Volker opened up his mouth in front of Congress (and Bernanke) in regards to "Financial Reform". The mining, coal, energy, and steel names reversed hard off of the highs during that late sell-off.

In any event, please continue to keep your eye on that NYSE A/D line. That key indicator will contine to be significant in my mind.

By the way, my past 27 years of watching expirations tells me that Wednesday's see the most volume and "unwinding" of positions heading into the Triple Witch on Friday.

With that in mind, I'm a seller in the commodity sector (equities) on any "gap-up" opening using today's highs as my stop.

Thanks again for your blog.
Your ability to IDENTIFY and CONFIRM the trend is most impressive!

Kevin said...


Would u please give your reasoning (what you saw in the market) that caused you to exit your trade this afternoon at the breakeven point...? Thanks so much for sharing!

RBharol said...

Got your book today.....
Starting it tonight.

TA_Wahaa said...

I'm a es trader myself. I only follow your blog for a month. You are amazing:-)

Aarpenn said...

Forewick, Eric and whomever,

Here is an objective opinion on the debate yesterday. The debate expressed varying opinions of blog followers - whether Carl was a momentum trader, perennial bull, does he make money?, how much money did he make?, etc. For me the appeal of this blog is not whether Carl suggests right trades majority of the time BUT because he sincerely writes his thoughts and trades in real time. I have seen gazillion blogs (by people that claim to be even bigger experts than Carl is) where people write obscure, vague, philosophical thoughts which are worthless for someone like me. Having seen and followed many other blogs, let me say this. This is one of the best blogs (if not the best) for clarity and sincerity. I will give my kudos to Carl just for having the guts to come out and call the market in the morning every damn day, without charging us money. His winning percentage beats anyone that I know of, and that is just an icing on the cake for me.

So for the naysayers, at the least appreciate the blog for it's hard work and sincerity. And if you can't, please do not share your discouraging words, and go to many other blogs that might be more suitable to your taste.

Thanks. Good luck