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MarcinO
Rep: 67
Posts: 5,506
The area at which ES stopped on Friday wasn't accidental at all.

Click image for original size
es 2014 05 18 png
JI
jimkane
Rep: 3,058
Posts: 33,089
Make it look like an imminent rollover, take it right to the first spot, gun it up. Same old, same old.
JI
jimkane
Rep: 3,058
Posts: 33,089
Now they shook out the shorts, and the longs got it, now they can sweep it down again. Or just make it look weak, then pop it up again.
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jimkane
Rep: 3,058
Posts: 33,089
It's just crazy what they do. Like one or two big players can do anything they want with the market at any time, and they just run these scenarios over and over, extracting everything they can each time. I can't believe there are even any suckers left...
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jimkane
Rep: 3,058
Posts: 33,089
Perfect spot to turn up for the next leg.
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jimkane
Rep: 3,058
Posts: 33,089
'Buy the dip'.
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jimkane
Rep: 3,058
Posts: 33,089
Of course buying the dip right before the close up against strong resistance after a 20 point run is not a high probability play, but it looks like it wants to play out.
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jimkane
Rep: 3,058
Posts: 33,089
You know, I feel all my comments are of some value, especially for someone studying very short-term ES trading. But, the concepts, the ideas, they mostly cross all timeframes and issues. So, on one hand I feel this all has value. Now, maybe I'm just so discouraged because the interest 'out there' in trading generally, and my work specifically, has dropped to unimaginable lows, but sometimes I feel like what I do has no value anymore. Not just me, anyone showing what I feel is good trading material.

There are times when I feel I would do almost anything to have a decent following. Not a cult-like huge following, but a decent following. I saw a show the other night and during the '29 era this woman ran an astrological stock picking service (basically every pick was a buy and almost everything in the market, of course, went up...), and she had 100,000 paid subscribers. I know this is apples to oranges, but I have like three regular members, unpaid. That's a reflection of how much I am valued for my contributions in this field.

Look, I can do my own thing and just leave it at that. But I really put a lot of effort into the books, the website, and so on, and didn't get compensated in any meaningful manner on that. I've calculated the average hourly rate I earned, and it's ridiculous. Yes, the mentoring is better, but overall, 'the project' is a joke. So, I always wish I could make it up in feeling I contributed something and people came to me to seek information. But they don't.

Overall, then, I feel like 'the project' was a failure, I didn't get from it what I had hoped. To wind it down with basically no followers, that bothers me. To keep it going and day after day feel 'rejected', that really bothers me. I just wish I could experience a decent following if even for a short time, to have people coming to me constantly, to feel like I had something people wanted. Point is, right now, today, I feel like all my comments in here are just wasting time and storage space. Oh, well, it is what it is...
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jimkane
Rep: 3,058
Posts: 33,089
And I'm not looking for my three readers to pat me on the back and say 'No, Jim, you are posting good stuff, thanks, keep it up.' or anything like that. I'm just pointing out my feelings on the state of all this.
RA
rat89
Rep: 0
Posts: 7,015
well, the three followers like your work and have got a lot from it. But I know what you mean.
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jimkane
Rep: 3,058
Posts: 33,089
Thanks, rat.
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jimkane
Rep: 3,058
Posts: 33,089
Okay, well another what I think was a fantastic week for trading goes into the history books. See ya all Sunday night. Other than the five hour break on Monday from 10 AM to 3 PM Pacific time, the ES will be trading. It may be light, but they use that to move it, too. Regardless, I'll be there.