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ES and the Great POMO Rally


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ES and the Great POMO Rally

  #701 (permalink)
 
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 tigertrader 
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redratsal View Post
Who is going to be trapped ? Bears keep in mind that RTH boys have several gaps to be filled from the upside. I think the games will start in the last hour of RTH. I also think bad news are coordinated, after yesterday's rally it is a good timing to take all the skeletons from the closet and clear pessism's away, that is also why Bernanke didn't start the Qe3 campaign, there is always time if things get worst.


Yesterday's post FOMC announcement reversal- and - rally was textbook action, albeit an extraordinarily large trading range. So, it appears the market has been discounting the move.

One would naturally think that today would be an inside consolidation day, and not a spike up follow through day, because of yesterday's large range and volatility.

Bonds, gold and the dollar, indicate that investors are gun-shy, and are not ready to test risk so soon, but if the market is to "bounce" at the very least, it needs to hold the previously mentioned levels and stage a modest rally at the minimum.

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  #702 (permalink)
 
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 tigertrader 
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taking partial profits @1159.00 -1160.00 if it gets there...

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  #703 (permalink)
 
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 tigertrader 
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Meow....

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  #704 (permalink)
 
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 Jeff Castille 
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tigertrader View Post
Meow....

Is that the sound a tiger makes?

Does this mean you didn't reverse when you heard that big flushing sound?

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  #705 (permalink)
 
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 Private Banker 
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Another wild day for the markets. Nice sell off overnight and into the RTH open. Market then got choppy and it seemed like someone was absorbing all the orders around the 1121 - 1123 area. Market got a bounce and ran right into the 61.8% level from the overnight high where it was met with a fresh round of selling and may have squeezed out whoever was buying this up in the morning.

It now seems that every attempt to move higher is met with fierce selling. We still haven't approached yesterday's low but I wouldn't be surprised if we give that area another test.

The banks are getting absolutely beat up here. BAC, C, MS and the Vampire Squid all getting crushed today. Get ready for a liquidity crisis again. Money market funds have been transitioning out of Euro bank paper which will cause a huge liquidity disruption in Europe. This can easily make it's way over to the US.

Stay nimble!

PB

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  #706 (permalink)
 
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 tigertrader 
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Jeff Castille View Post
Is that the sound a tiger makes?

Does this mean you didn't reverse when you heard that big flushing sound?

That's the market - not me!

I'm always growling!

I stopped myself out (@1151.75-1150.00) after the market made consecutive lower highs

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  #707 (permalink)
 
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 Jeff Castille 
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tigertrader View Post
That's the market - not me!

I'm always growling!

I stopped myself out (@1151.75-1150.00) after the market made consecutive lower highs

I was hoping that was the case!

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  #708 (permalink)
 
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 Lornz 
Oslo, Norway
 
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Private Banker View Post
Another wild day for the markets. Nice sell off overnight and into the RTH open. Market then got choppy and it seemed like someone was absorbing all the orders around the 1121 - 1123 area. Market got a bounce and ran right into the 61.8% level from the overnight high where it was met with a fresh round of selling and may have squeezed out whoever was buying this up in the morning.

It now seems that every attempt to move higher is met with fierce selling. We still haven't approached yesterday's low but I wouldn't be surprised if we give that area another test.

The banks are getting absolutely beat up here. BAC, C, MS and the Vampire Squid all getting crushed today. Get ready for a liquidity crisis again. Money market funds have been transitioning out of Euro bank paper which will cause a huge liquidity disruption in Europe. This can easily make it's way over to the US.

Stay nimble!

PB

You're making me complacent! I don't even need to open my own charts, I know I can just wait for your post at the end of the day.... Thanks for your contributions!

I had a dentist appointment today, and did not get back in time. It's depressing to see what I missed... I barely caught the last wave down, though. But I should have just pulled the tooth myself and been ready from the get-go...

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  #709 (permalink)
 
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 Lornz 
Oslo, Norway
 
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Michael.H View Post
Lornz, if you don't mind me asking, how old are you? you don't have to give me a specific age, you can say 20's or 30's...
I have a few close friends in Oslo... Are you in banking as well, or is this a hobby?

Really? Americans or Norwegians? Traders?

I am in my late 20s, and trade my own account full-time. I've been trading (in various forms) for 8 years. I also just embarked on a BSc in Mathematical Finance; I have been toying with the idea of doing something more with my trading...

Feel free to send me a PM!

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  #710 (permalink)
 
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 Private Banker 
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Lornz View Post
You're making me complacent! I don't even need to open my own charts, I know I can just wait for your post at the end of the day.... Thanks for your contributions!

I had a dentist appointment today, and did not get back in time. It's depressing to see what I missed... I barely caught the last wave down, though. But I should have just pulled the tooth myself and been ready from the get-go...

Yikes! Tooth pulled? Hope everything went well! Yeah, today was another wild day. I expect to see this for a while.

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