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    TO
    TonyC
    Rep: 99
    Posts: 471
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    Am I sensing some euphoria in the market?

    MR
    mreiserer
    Rep: 110
    Posts: 2,220
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    Hey T, can we merge our topics? :)
    MR
    mreiserer
    Rep: 110
    Posts: 2,220
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    ok, I deleted mine
    MR
    mreiserer
    Rep: 110
    Posts: 2,220
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    Ain't no stoppin' us now
    We're on the move
    ain't no stoppin' us now
    we got the groove
    TO
    TonyC
    Rep: 99
    Posts: 471
    0
    beginning stages of euphoria i meant..extension gap on open after a 2 months run!?! u don't see that often...
    MR
    mreiserer
    Rep: 110
    Posts: 2,220
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    Sure looks like it, euphoria can also be short-lived of course...and coming down is the hardest thing :)
    TO
    TonyC
    Rep: 99
    Posts: 471
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    yes M,
    I was pointing to the fact that this could exhaust the bullish volume since this marks the presence of crowd volume and the tape definitely shows there is chasing behavior. But the mark up can go on for some time though, before it finally seek to reverse course.
    Good thing for us...we just gonna ride some tight and will unload into the frenzied volume. pretty fun to do...but no way I'm buying new longs positions here except the intraday setups for quick pops

    T
    MR
    mreiserer
    Rep: 110
    Posts: 2,220
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    agreed, 940 should be next
    TO
    TonyC
    Rep: 99
    Posts: 471
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    Hey Jim, M , if you are reading, please honor us with your presence in Scott's chatroom we've requested your participation in there for today...it's better for more active posting there and more fun too. I'll be in there today. So see ya in the chat.

    regards,
    T
    TO
    TonyC
    Rep: 99
    Posts: 471
    0
    nice abcd off the openeing high, BTW.
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
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    quote:
    Originally posted by TonyC

    beginning stages of euphoria i meant..extension gap on open after a 2 months run!?! u don't see that often...
    And that was the point of my other post...
    TO
    TonyC
    Rep: 99
    Posts: 471
    0
    awesome day of trading..plenty of setups and plenty of drama . I did pretty good on the longs. although there was that nice short setup at the now pt 3 of that 4pc pattern (wich was .886 roofer gap play with upper // test of std ML set,warning line from big daily set, another .886ret off jan 5 to Mar6 leg down, and SL going into area too). I did not get into any shorts today as I saw the daily flow was clearly up and context wasn't there to support holding anything beyond an intraday swing play, so the reward potential, in my opinion, was limited and rollover risk higher due to bullish tape bias. Overall it was a busy day but a satisfying one because it feels nice to end the day in the green not because of just luck but because the methodology worked well and the clues in the price action were clear to me.
    The overnite Globex action last nite was superb too. maybe repeat tonite again?...
    940..1015...? who knows?..im just glad it sees the areas im working with. So far so good.
    Tomo, you are getting sharp in your pattern recognition and the KT methods, it seems.That's good to see/hear. May the force be with you.
    okay im done for today.Gotta get some Z's before hitting the globex action.No charts ,sorry. Im too tired and I'm getting lazy now.

    T