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ES Wed 10-26-2011


i would not trust these numbers. i am new at picking key numbers. also i dont know how you people post and trade at the same time. my hat is off to you. just maybe someday i could do the same.

ok here what i got

1250-52.5
1240-42.5
1234.5-36.5
1225-27.5
1214-1216
1206-08
1200-02

take care
duck
Bruce I dont see the reason for selling above 36, could you explain
Look at that (P) on top of the TPO
rburn as I see it above the 36 from yesterday to 40.00 area was LV
Using KT, 39.75-34 projects 24.75; 39.75-33.25 projects 22.75
long at 26.25...air above.. into the 31 area
from what i could tell the big lv area (33 to 38 or so) from monday was basically filled in yesterteday leaving only lv above the 40 area....i agree with bruce's 28ish area but i just don't see the reason for selling above 36, perhaps he can explain it later in the day

Originally posted by della

rburn as I see it above the 36 from yesterday to 40.00 area was LV
explain later..trying longs again from 18.75...we know our critical 13 - 15 is still below....bigger air above now...targeting 22.50 first
MP chart - thinly traded area below. But INDU just
closed its gap, so we may bounce here

Click image for original size
2011 10 261054
runners getting nowehere on longside today...a bit frustrating..trying agin from 17.50...21 is now first target...
Stop for longs should be 1217 or s, below that large footprint

Click image for original size
2011 10 261059
Y, I agree.. it turned out to be a wash trade for me... I shorted 2 at 38/38.75, took one off for a nice profit, added 1 again back up and got stopped out on both....

the primary reasoning was LV, HOD and DX was basing with strong ledge support underneath so a runaway to the upside seemed less likely to me but got stopped out never the less...

BTW - a few other traders got 42.50 as a number, one was an old POC from Dec2010, another had doubles up there... My question is are doubles significant? Are old POC and value areas going that far back still potent?