Tag archive for ‘range day’
Do you hear the people sing?
As the day wears on, my blog post takes shape in my mind.
Why?
So I can think rationally, unemotionally, and intuitively about what I could possibly say that was the true dynamic of the day’s activity.
Also…it helps me see the trade setups better.
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Here is a sampling of today’s key thoughts for me, based on the evolution [...]
Range Riders
Like the day after Thanksgiving, we are still hungry but need time to digest a big meal. A token new high was made, but 40 pts in 2 days, with 15 of those points being scored in the globex session, left a need for consolidating.
If we guess correct about the type of day, then the [...]
Double trouble
The market went sideways for most of the day, range bound between yesterday’s low and the 38% bounce.
Too soon to draw any conclusions, as everyone awaits the stimulus to stimulate.
The basic premise is always there, and the minor twists and turns are for the big boyZ to posture and fill positions. Smaller traders like us try [...]
Sideways shuffle
The emini was range bound today, and chopped up a few over-traders I am sure along the way.
Signals from the daily chart suggested that the market would probably be contained today.
After hours activity notwithstanding, it was a pretty tight range during RTH, reminiscent of activity a few years ago.
The spirit of 76 was resistance after [...]
Wimpy and waiting
The market action today resembled two wimpy fighters who are weary. The players are probably waiting for tomorrow’s unemployment numbers as an excuse to move the market.
The globex hi and low held all day, and it was range trading with the outside -in trades the winners. Sometimes a fairly large range one day just marks time the [...]
Nothing runs like a deer
Frozen in the headlights of fear, nothing runs like a deer.
There are several major patterns that keep repeating in the markets. Learn them, and we can write our own ticket in life. Remain ignorant, we will probably be like a voyeur watching a ping pong match.
Many traders today thought it was “choppy”. I suppose you could say that, [...]
Big George
He was a giant among us.
In high school, I faced George at the plate a few times. Like the Ryan Express, he could really bring the heat.
Even then he had a major league fastball. Whifferoo was all I could do.
After I was set up with the high hard one, all it would take was two of his curve balls [...]
The paws that refreshes
It has been said that Bulls lift the market up with their horns, and Bear markets slap you down with their paws.
Who knows whether we are in a Bull or a Bear market, I am certainly not bright enough to know. Let the analysts continue guessing; I am happy to take my slice out of [...]
Home on the range
Consolidations wear over-traders out.
Today was such a day.
Transparency in the market is seldom obvious, but today was an exception. The resistance held as expected, and support came in right on cue.
As an administrator in a popular chatroom, I advised traders correctly to the tic. Obviously I can’t be that accurate everyday, but it is certainly gratifying when [...]
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