Lurch ‘n Church
Do you remember what it was like learning to drive a stick shift?
I remember seeing Larry Williams at a seminar one time, where he explained his crouch trade.
When I think a pullback is going to give traders a whole lot more, I remind myself of that idea.
Charlie likes to pounce short when he is on his knees, when the market has shown a willingness to be in a trend. Professionals would rather take the uncomfortable trade.
Fade the extremes, and put those extremes in context.
[08:04] E: hi all
[08:04] E: if you look at the daily charts
[08:04] E: something quite interesting
[08:05] E: playing cautiously next few days
[08:05] E: 60 chart in play
[08:05] E: but swings have been substantial
[08:05] E: overnight range is larger than normal
[08:06] E: and after revisiting the scene of the crime, strong bounce
Half gap trade at the open, why not?
[10:39] E: but today i think fighting emas makes it harder
[10:40] E: so my bias is be neutral
[10:40] E: expect headfake
[10:40] E: trap shorts
[10:40] E: squeeze
[10:41] E: and i dont like the way the market has been so much of a bully
[10:41] E: that everyone wants the pb
[11:24] E: and interstingly
[11:25] E: this is same battle we had a few days ago
[11:26] Eric .: Get a running start to jump the creek
[11:27] E: yes !
[11:27] E: so this compresses both sides
[11:27] E: into emotional battle
[11:34] E: second failure
[11:34] E: anyone short
[11:34] E: be done by 16
[11:34] E: trail is all u can do
[11:35] Lindy C: one more time to catch the shorts?
[11:37] E: it bothers me that ther has been no rip your face off move this morning
[11:37] E: so i am not as bullish as z
[11:37] E: 23 rejected several times
[11:37] E: so if nibble short
[11:37] E: at least have odds of the retracement move
[11:38] E: playing range
And we”ll remember,
we are all God’s children…
[11:54] E: “this business is not for the emotionally immature”
We need to constantly interpret new information as it becomes known.
[12:02] E: and any low avail now
[12:03] E: 1309 = xx.
[09:48] E: cannot see this ripping south
[09:49] E: if it does, its to pick up passengers to squeeze and grind
Pick up passengers and lurch.
Driving their stick shift and making a mess of the charts.
Reaching out to touch you,
reaching to the sky…
[12:11] Zeek411: this may be the pinball trade
Right idea, wrong timing.
[12:18] Zeek411: you are right, this is the worst timing for entering a trade and having to wait 90 minutes or more
[12:19] Zeek411: IB low broken and we are chopping around, that is not a very good sign for the pinball trade
That is how a professional handles himself.
Zeek is best of the best; a true professional.
[12:42] E: bias is scalp short on bounces
[12:43] E: expect them to be limited
[12:43] E: if buy
[12:43] E: then think try for 2 to 3 points
[12:43] E: and must get above the 19 again for any traction
And help us to be wise…
In times when we don’t know…