Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.
Euro still fighting the resistance.
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morning guys, started trading a new market. /gc. i am long 1709, on positive cross of 10/20 on the 5min. looking to swing trade this up to the 50sma at about 1730. good luck today.
Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.
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Euro still fighting the resistance.
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Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.
Last edited by zhyuan04 on Wed Oct 26, 2011 9:28 am, edited 1 time in total.
Pre- market: a second breeze in the sail of the bulls: the Germans seem to go along with further leveraging for the IFSF.
Good for the moment and BAD on the long run!
That is why the indices (here and in Germany) crawl up. but don’t fly!
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Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.
1.png
Euro still fighting the resistance.
2.png
Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.
right, I gave up any bearish call, anyway.
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Cobra wrote:Gap up but within yesterday's range plus it was Major Distribution Day yesterday, so NORMALLY any gap after such a day would get filled, so changes are the gap will be filled. The Global ES MAY look like a Bear Flag, not sure, as the Flag is a little bit too large.
1.png
Euro still fighting the resistance.
2.png
Hi Cobra. Thanks. However, I have different thoughts. The MDD rule is based on normal situation when VIX is not high. However, nowadays VIX is above 30, yesterday's drop barely met MDD rule and it may not signal as strong as selling strength as before.
right, I gave up any bearish call, anyway.
Thanks for your reply. But we still should give some respect to the past rule. So I will not add long here.
KENA: what is your downside target for your MOS short? Maybe fill the gap at $55.xx?
PS: You always seem to take positions that pique my interest. You said you have a list of stocks you watch right? Are we talking dozens or many dozens? Just curious.