ES 11-20-08

here we go!

Its been my experience that the the market almost never makes it thru one of thiose on the very first try! Perfect scalping tool!

volume low.............

FWIW..'longer term' the 30 min proj is 811 and the 30 min avg is 813 and falling ,so if by some'miracle' the get there in the next hour or so ,i guarentee thats a good short! Ask VO about that 812-13 area!

that 812/813 would be a sweet short in my opinion

quote:

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Originally posted by koolblue

See, prest? 15 min was at 802.25 a perfect sale! i was too slow

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I missed the 15 min hit also. That was a beauty. I use the 15 min but not as much as I have the 1 and 3 minutes up all the time plus with the other charts like the TICK, crude and bonds, MP and BAV I run out of screen real estate. These are such simple tools (BBs and MAs) I am surprised that more don't use them but like you say, they can't be most effectively used in isolation.

FWIW current 15 min proj is 809.00 all proj based on not seeing 774 again!

Agree, Prest , simple can be potent ! the 15 exponential(bollinger bands) and the 54 (the'average') have made me aLOTof money over the years. Iuse them a lot for exits when i dont have time for a price proj.

FWIW, as ugly as that down move was this am the BAV says that big money didn't sell with real conviction. They got to a net negative 15k contracts or so and have now bounced to positive 3500. For perspective, they ended yesterday about -70k after being as much as -90k net contracts. Again, FWIW as this market changes on a dime.

+50% IB extension is 816.5. singles 804.25-806.5 and 813.25-817.5. LVA 817.25

now, where to sell 809 os 812?

quote:

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Originally posted by VOwater

prestwick where did your BAV end up

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Here is how it finished VO. Notice how big money (white line) really sold hard on the break of 772-770 around 14:33? At the same time small money (brown line) started to net buy heavily. I rarely see small money's conviction outweigh the conviction of big money, ala today. Bigs look to have done some covering into the close. That 770-72 area should be watched tomorrow if we test it as it is likely that big money will try to defend the sells they started there unless some news changes the nature of the market.