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Catching Big Waves - a trader's journal of surfing the the markets


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Catching Big Waves - a trader's journal of surfing the the markets

  #3171 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

"It's goin nowhere, somebody help me.."

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  #3172 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

ES volume

Started this thread
  #3173 (permalink)
 
Beljevina's Avatar
 Beljevina 
Toronto, Canada
 
Experience: Advanced
Platform: NinjaTrader, SierraCharts
Broker: Amp/CQG, IB
Trading: CL, GC, 6E, ES, RTY, EURUSD, GBPJPY, AUDUSD
Posts: 352 since Sep 2010



GaryD View Post
ES volume

Looks like both 6-11 initiated shorts getting stopped and shorts of earlier this morning. Seems clear to me they are targeting stopping out the last shorts up towards 1340.

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  #3174 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136


GaryD View Post
Here is what I do not get... other than the options expiration is driving this...who would buy into this close?

I recall the feeling very well of the last two or three 4x opex days just being absolutely painful. In my mind they are like slow oil tankers, pushing many tons but doing so at a snail's pace (relatively speaking). I'm sure someone has a rhyme and reason, but the lesson I learned was, don't try to fade them. As usual, the market seems to have a mission. It won't stop, at any cost, until that mission is achieved. In my mind, that is ES 1336-1337, as I mentioned earlier, and what I am waiting for to close my long. No amount of shorting will stop it, because it's going to happen. It doesn't matter what the volume says. It doesn't matter how many big flashes of red you see on the tape. It's going to happen, no matter how many or few contracts it takes to get it there. Maybe I'm delusional, but that's how it works in my head. Even if it doesn't happen, I won't try to short it.

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  #3175 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


josh View Post
I recall the feeling very well of the last two or three 4x opex days just being absolutely painful. In my mind they are like slow oil tankers, pushing many tons but doing so at a snail's pace (relatively speaking). I'm sure someone has a rhyme and reason, but the lesson I learned was, don't try to fade them. As usual, the market seems to have a mission. It won't stop, at any cost, until that mission is achieved. In my mind, that is ES 1336-1337, as I mentioned earlier, and what I am waiting for to close my long. No amount of shorting will stop it, because it's going to happen. It doesn't matter what the volume says. It doesn't matter how many big flashes of red you see on the tape. It's going to happen, no matter how many or few contracts it takes to get it there. Maybe I'm delusional, but that's how it works in my head. Even if it doesn't happen, I won't try to short it.



$5?




Josh, I hope you know I am kidding. I realy know nothing right now, just trying to watch and learn something. I hope you are right and I wish I had a clue.

Started this thread
  #3176 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


josh View Post
I recall the feeling very well of the last two or three 4x opex days just being absolutely painful. In my mind they are like slow oil tankers, pushing many tons but doing so at a snail's pace (relatively speaking). I'm sure someone has a rhyme and reason, but the lesson I learned was, don't try to fade them. As usual, the market seems to have a mission. It won't stop, at any cost, until that mission is achieved. In my mind, that is ES 1336-1337, as I mentioned earlier, and what I am waiting for to close my long. No amount of shorting will stop it, because it's going to happen. It doesn't matter what the volume says. It doesn't matter how many big flashes of red you see on the tape. It's going to happen, no matter how many or few contracts it takes to get it there. Maybe I'm delusional, but that's how it works in my head. Even if it doesn't happen, I won't try to short it.


Very good description

Started this thread
  #3177 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136


GaryD View Post
$5?




Josh, I hope you know I am kidding. I realy know nothing right now, just trying to watch and learn something. I hope you are right and I wish I had a clue.

You are in rare form today Gary. No better day to cut loose and be crazy than quadex! My words may very well be the musings of a stark raving mad lunatic...

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  #3178 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136

And the hour of witching is upon us.... what beastly ghouls lie ahead?

  #3179 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


josh View Post
You are in rare form today Gary. No better day to cut loose and be crazy than quadex! My words may very well be the musings of a stark raving mad lunatic...


But we have each other...





I don't think I remember the last quad witching I watched. I might have even chosen not to.

Started this thread
  #3180 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


Just bored I guess. I have a light day, wife home around 4:30. I did something to my lower back this week so no gym.

Started this thread

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