Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, May 17, 2010
Quick update
The market has nearly rallied all the way back to the day's high. This looks like a decisive rejection of prices below 1120 and I think it means that the low of the drop from 1174 occurred today at 1113. The ES is now headed for 1200.
i agree w/ carl in the sense that market has bottomed in the short term.. but i desist from giving any upside target here and in fact carl's target looks too ambitious as of now...
Thank you Carl for your work. I am currently enjoying your book which I purchased last week. I would recommend it to anyone, not just those that are in the financial business.
For the current down move that started on April 26, the bottom is not in yet. This down move has a along way to go and may finally precipitate into a trend change on daily charts.
We have neither tested the previous low, nor have we seen any high volume capitulation. Today does not qualify as a key reversal day.
Thinking of the upside at this time is premature. All rallies are fake and deserve to be shorted.
I observed strong buying @1116,your guess estimates were helpful to short@1139.I liked Kishore's comment for not seeing high volume capitulation. Uncertainty is there and rally for short term seemed fake.I highly recommend your book to every one.Every word means alot.I'm so highly benefitted from you which actually I can't put in words.You gave me confidence and great support by guess estimates.I earned 29 pts in ES_F today which is because of following you from last 5months. Thanks and wish you the best!
7 comments:
i agree w/ carl in the sense that market has bottomed in the short term..
but i desist from giving any upside target here and in fact carl's target looks too ambitious as of now...
Thank you Carl for your work. I am currently enjoying your book which I purchased last week. I would recommend it to anyone, not just those that are in the financial business.
Hope you are right because I went LONG on a few options contracts during the last few trading minutes.
Jack
For the current down move that started on April 26, the bottom is not in yet. This down move has a along way to go and may finally precipitate into a trend change on daily charts.
We have neither tested the previous low, nor have we seen any high volume capitulation. Today does not qualify as a key reversal day.
Thinking of the upside at this time is premature. All rallies are fake and deserve to be shorted.
I observed strong buying @1116,your guess estimates were helpful to short@1139.I liked Kishore's comment for not seeing high volume capitulation.
Uncertainty is there and rally for short term seemed fake.I highly recommend your book to every one.Every word means alot.I'm so highly benefitted from you which actually I can't put in words.You gave me confidence and great support by guess estimates.I earned 29 pts in ES_F today which is because of following you from last 5months.
Thanks and wish you the best!
The reversal today looks like a sucker ploy by the professionals. It's just way too obvious, they want retail to be long at this time.
Mr Futia... I am following your boxes for price; but what metric do you like to help with your "timing"?
If it's proprietary I understand.
Win lose or draw, I love your confidence.
Thank you.
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