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ES short term trading 5-14-10


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05may2010calendarimage
The action from here on out may surprise a lot of you. Have to leave for around a half hour , wish me luck and good luck to all!
Originally posted by PAUL9

Originally posted by phileo

we are now below weekly lows,dip buyers from earlier this week will bail/liquidate.


Great observation, but they might have dumped to create the L in place, and now, the shorts might be willing to book profits (buy) on any new 5min H>previous bar H.

I don't know, but I do know that I expect volatility and volatility is not a one way street.

no matter what, (bounce intraday or not) you have to see supportive PA.


Paul9, I am trying to think about what the person on other side of the trade.
Long bond is trending up
NYAD => -2287
only one +VE TICK excursion
It's a friday, longs want to liquidate, that is what i am seeing.
I'm not seeing any mean reversion here, sorry to disappoint anyone.
I am looking to short 1144-1146
if it was mean reversion day, I would start to see more advancers by now. But right now, NYAD is pinned below -2200 for over half an hour now. That is telling me to sell any and all rallies.

30yr T-Bonds making another HoD.... that is a bad sign for ES
they wantthat 32 badly...to close downside air pocket mentioned in page 1
long on 32.50...u know where first air back up is
paired some at 36.25 as that was original entry for this campaign
peak volume still near 40
Thanks, daytrader

phileo, can't argue with anything you've said, but as I've said: volatility is two way street.

just now have seen first HH on 5min.

I ask myself, who has made the money yesterday and day before? Bears, maybe they want to book profits ahead of weekend.

It is certainly a downtrend and the idea that the first 30min did not have a single positive tick is not good, but rubber band has been stretched.
two more off at 40.75......holding three
Originally posted by PAUL9

Thanks, daytrader

phileo, can't argue with anything you've said, but as I've said: volatility is two way street.

just now have seen first HH on 5min.

I ask myself, who has made the money yesterday and day before? Bears, maybe they want to book profits ahead of weekend.

It is certainly a downtrend and the idea that the first 30min did not have a single positive tick is not good, but rubber band has been stretched.


Understood. It's not about who's right or wrong, we're all just interested in being in the right side of the trade.
1141-1143 - that was the weekly low ; sustained move above that and the buyers have a chance (and I will change my bearish view)
Originally posted by redsixspeed

Originally posted by BruceM

so it seems my histogram on IB may be wrong...anyone else have a High Volume Histogram price up at 37 that is higher than the volume node at 30 or 31?

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Bruce,

Seems your right @ 37.00...I don't use vwap...I know kool says
load it just before open...I forget to load it...LOL

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I loaded vwap just before market close = 1136.00