kbit 

I'm going to stick my neck out here and give a prediction on what will happen. As I see it now it should get up to about 96 and bumble around for a short time and then launch up to my 801.5....might happen tonight. The only thing that concerns me is that the ES is dragging its rear end. I think the guys who are short are feeling somewhat comfy and this would be a good time to shake them out. Just remember on this post anyway I'm throwing out a wild guess on this one ....don't trade anything you don't like Let's see what happens around 790-791 this time

So much for that...I couldn't predict my way out of a paper bag.....I think I'll just stick to watching areas

Predictions never go my way either

Presented with little comment except to say that the total lack of volume (and massive concentration of what volume there is at the close) is hardly reflective of a market that is anything other than broken and dying. Last January (2011) the average number of stocks traded on the NYSE per day was 891mm shares vs 661mm for this January (a 26% drop YoY!) and this is down an incredible 59% from January 2008.


[IMG]http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/01/20120131_EOD6_0.png[/IMG]


Just a note from me on this one and as with anything else someone might look at what I am saying and say I'm full of it....but they are full of crap or ignorant of both if they dispute this

I've been trading long enough to know the markets are getting worse and worse..., though I get trades this is probably the crappiest looking January I have seen....and it's not just Jan...it's been the last few years.
I feel sorry for the guys starting out in this profession, it just sucks really compared to the way it was.

I just wonder if it will get better or not. I think all the economic stuff has scared everyone away from stocks and as for index futures traders, I suspect a lot of them got wiped out...(It's just me vs Goldman at this point)

If you guys don't believe me just look back a few years and see how the markets used to work.

If your a new guy just take it slow...money can still be made but it's not as easy as it was

kbit 

If your a new guy just take it slow...money can still be made but it's not as easy as it was

Well forex is continuing to gain volume, and futures lose volume. CME needs to look at its practices and probably make some changes.

Mike

Created a thread to discuss:

Are futures dying? "Volume drying up" This post by kbit got me thinking: I've been reading similar stories for a few months now, how volume is drying up and it is making things harder and harder to trade. So here's the question: Are futures dying? Is forex picking up the …

Mike

I'm not to sure about any particular spots tomorrow...maybe that crackpot prediction I made earlier might work out....though 790 didn't hold ...it might have been just a flush out....will post some ideas tomorrow if things become clearer.

Well maybe my wild guess prediction wasn't to far off after all...anyway, the way this has played out we have to not be to cocky when/if shorting 801.5 ......this thing could launch up to the 815 area considering the range we have been chopping around in.

Really, this is doing what I thought it would (look Back a few posts) up to this point. The question is if we actually hit 801.5 soon or continue to chop around in this range some more.....

Looks like 786ish is the bottom...if it for some reason gets below 782 I will be nervous about this 801.5 idea but not really until/unless that happens

I got a couple spots to keep an eye on....809-810 this might be a top...if it goes past this I will be looking at 815

If it in fact makes it to 815 it might only drop to 810 and go up again. 810 should bring us back to 800 or more(maybe around the 93 area)....guessing a little here on how it may play out but not the spots to watch.... but should be pretty close to what might happen

There are a couple other spots but those are more significant.....you can look for PA along the way but the way it's going now I don't see any real drop happening today anyway...

Just looking at things and have determined that if/when it comes back down 802.5 is a spot to be reckoned with

Edit: I'm seeing a footprint here at 805.5...in other words if say we turn around at 809 ish that might be a good first target

As I'm writing this I see another happening at 806.8......

This isn't the cleanest but looking like 805.5 will be the spot....when it turns around (you see a lower low or whatever)just measure the distance from the very top ( HOD ) to 805.5 and deduct that amount from 805.5 and that would be the next target on the downside.

The only bad part here is that like I said it's not the most ideal layout here but....

Edit: just realized it's perfectly posistioned right now with a high at 808.5 to go down to 802.5....lets see what happens