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ES and the Great POMO Rally
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ES and the Great POMO Rally

  #611 (permalink)
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Agree that we are not moving to risk now but my thought is whether this is an early sign of a change - maybe over the coming 2-3 weeks. Thanks for your comment TT.

I all depends on what kind of rabbit BB can pull out of his hat. Let's see what happens at the FOMC meeting.


Sell rallies against the VWAP!

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ES and the Great POMO Rally-cl-09-11-15-min-8_4_2011-vwap-2.jpg   ES and the Great POMO Rally-es-09-11-15-min-8_4_2011-vwap.jpg   ES and the Great POMO Rally-es-09-11-2-tick-pointandfigure-8_4_2011.jpg   ES and the Great POMO Rally-cl-09-11-2-tick-pointandfigure-8_4_2011.jpg  

Last edited by tigertrader; August 4th, 2011 at 12:02 PM.
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  #612 (permalink)
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This has been one of the best days I've seen in the ES in a long time. 1134.50 will give us a limit down on the day I believe. I'm still watching to see if we get to 1171.00 area of course. I haven't broke a sweat trading the ES in a long time. This is amazing!

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ES and the Great POMO Rally-es-2011-08-04.jpg   ES and the Great POMO Rally-es-09-11-15-min-8_4_2011.jpg   ES and the Great POMO Rally-es-09-11-5-min-8_4_2011.jpg   ES and the Great POMO Rally-es-09-11-6-rangenogap-8_4_2011.jpg  
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  #613 (permalink)
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Also, have a look at the USD. Pretty crazy! This of course could be from the BOJ's shenanigans but this is getting very interesting. There's two ways to look at the USD from a big picture perspective. One would be that it dropped below it's wedge pattern and is now testing it's previous support trend line and the second perspective is that it was a trap and there was buying interest at the low's. The next few days should give us a further indication of what's happening.

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  #614 (permalink)
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Of course, it's because of the Japs - they bought dollars! However, intervention rarely is rarely effective. This wasn't a coordinated move and even if it was, the yen is now a bargain compared to the swissy, and will probably be bought up. Further easing by the Fed, which is almost assured after today's equity sell-off ,will only serve to weaken the dollar once again. Everybody and their brother was short the dollar - that's why Jim Rogers got long the dollar, in spite of the fact he thinks it's worthless , so it shouldn't be much of surprise that there would be a shorts paying up.

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ES and the Great POMO Rally-dx-09-11-daily-8_13_2010-8_5_2011.jpg   ES and the Great POMO Rally-6j-09-11-daily-8_5_2010-8_5_2011.jpg   ES and the Great POMO Rally-6s-09-11-daily-8_5_2010-8_5_2011.jpg   ES and the Great POMO Rally-fut_image.ashx.png  

Last edited by tigertrader; August 4th, 2011 at 02:11 PM.
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post #450 https://futures.io/index-futures-trading/6393-es-s-p-500-futures-contract-great-pomo-rally-45.html#post133339

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The biggest sell signal was just shot across the bow, lol. This just in... Barton Biggs is bullish on stocks.

But he does bring up a good point that the next QE will most likely have a very different look to it. He predicts the Fed will buy mortgages and... residential RE?

Barton Biggs: Buy Stocks Aggressively, And Get Ready For A "Different Kind Of QE3"

Well, looks like the Barton Biggs indicator/sell signal has worked again. Lol! I remember when he was at Morgan Stanley. He seemed so much more respectable back then. Maybe it's time he enjoyed a nice, wealthy retirement.

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  #617 (permalink)
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Market could easily test 1150 tomorrow, with non- farm payrolls on the docket, although a disappointing number almost certainly has been priced into the market. Nevertheless we could see a washout on the number and then a huge rally, if we test 1150.00 There is a confluence of support there, with the weekly 100 SMA, potential right shoulder( albeit, a very loose interpretation of an inverted H&S), and the 45 degree angle trendline off the low.


99% down volume on NYSE today - only 5 previous occurrences 10/19/87, 2/27/07, 12/1/08, 5/20/10, 6/4/10

Only 2 other times $VIX was up 35% to a one-year high - 10/19/87 and 10/13/89. S&P was up +5.3% and +2.8% each of the next days.

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I might enter a small long position today with tight stop after the job figures - depending on the market reactions.

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tigertrader View Post
Market could easily test 1150 tomorrow, with non- farm payrolls on the docket, although a disappointing number almost certainly has been priced into the market. Nevertheless we could see a washout on the number and then a huge rally, if we test 1150.00 There is a confluence of support there, with the weekly 100 SMA, potential right shoulder( albeit, a very loose interpretation of an inverted H&S), and the 45 degree angle trendline off the low.


99% down volume on NYSE today - only 5 previous occurrences 10/19/87, 2/27/07, 12/1/08, 5/20/10, 6/4/10

Only 2 other times $VIX was up 35% to a one-year high - 10/19/87 and 10/13/89. S&P was up +5.3% and +2.8% each of the next days.

I have a feeling that if volatility will calm down some and then come late Sept, then onto October we will see some really really nice movements. I am leaning one direction, but it doesn't matter what I think, I believe it is more important now in my trading career to evaluate market conditions vs. direction.

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Michael.H View Post
Just as a note to anyone that was following... my stop loss got triggered on the NQ when it broke its previous days low ( gave back about 1k on last 2 positions)... so did my ES position as well with a slight profit on the remaining positions. I did from both trades, but NQ was no nearly as big as the ES trade.
I am officially flat.
I realized that i closed the position out near support, but im not turning it to a loser, and i can always get back in and do this again if the market changes its mind. So far, i believe its neutral to bearish. I am not short or am shorting for the time being.

Thats why i didn't buy yesterday..... Glad i didn't have any positions on today.. looked pretty brutal for people that were long.
I might stalk shorts if the market has a rally for a better entry. As of right now, im planning to go out of town, camping for a few days with the family... Enjoy your weekend everyone.

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