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jarek
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Originally posted by jimkane
I wonder if anyone had the stones to short this? ...
I can't find enticing geometry in ES. Maybe if I took SPX...
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JI
jimkane
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Yes, the better geometry is around that 50 area that I mentioned, and your chart shows. But the 3D was compelling, and many Fibs and things I put together came in earlier. It's a tough short, but if one had a lot of stones, I could see it. Probably it will use this flat to launch up to the 50 area, as I think it is frenzy 'risk on' today, so we'll see.
Sometimes, though, there is a big drop off a layout like we just had, so the reward/risk can be high, and that makes it worth a shot even if the winning % is lower than usual. Generally, though, I don't fight trends, and trend days. But, I like for it to give me a setup, and this looks like it is saying it is readying for the next leg up. As I like to say, we'll see.
Sometimes, though, there is a big drop off a layout like we just had, so the reward/risk can be high, and that makes it worth a shot even if the winning % is lower than usual. Generally, though, I don't fight trends, and trend days. But, I like for it to give me a setup, and this looks like it is saying it is readying for the next leg up. As I like to say, we'll see.
Originally posted by jarek
Originally posted by jimkane
I wonder if anyone had the stones to short this? ...
I can't find enticing geometry in ES. Maybe if I took SPX...
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JA
jarek
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Originally posted by jimkane
Do they really want that 55 area today??? I'm thinking so.
Are you thinking about this magnet?
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rat89
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I adjusted my blue set and it's kind of like threading a needle at the 685......what kind of pullback for a continuation?
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jarek
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Bullish one or bearish one? - that is the question in Gold:
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rat89
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nope....put it back where it started based on the 886 this morning
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jarek
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In fact a similar bearish 4PT to the one I showed for SPX is forming in ES now:
May end whenever from here to 1355
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May end whenever from here to 1355
JI
jimkane
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Been busy managing on the short side... Note the KZ at line in here. Now we see.
Yes, to sum it up jarek, those are my 50 and 55 areas, and like you said, somewhere in here if that's all they have. The daily range is in that 20+ points off the low, so it is stretched for the day. I'm staying with my crazy short side bias until they come back in. Note it did the move off the flat to shake out all the weak hands off that 3D.
Yes, to sum it up jarek, those are my 50 and 55 areas, and like you said, somewhere in here if that's all they have. The daily range is in that 20+ points off the low, so it is stretched for the day. I'm staying with my crazy short side bias until they come back in. Note it did the move off the flat to shake out all the weak hands off that 3D.
JI
jimkane
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And now Druckenmiller joins Gross and Grantham. Maybe it just took one person (Gross) to say out loud the Emperor has no clothes? At some point the bond vigilantes will overwhelm the Fed. Maybe not yet, but some day...
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident