Round Table


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  • SPQR
  • 17-Jun-2008 at 8:58 AM
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Hear ye, hear ye! Gather ye around the round table.

My weekly indicates this is over. The daily, not by a long shot. Sellers seem to have effectively controlled 1369. By my count we have to peak 1376 to keep seeing the sun as it were.

What are you guys coming up with?
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  • ksaieh
  • 20-Jun-2008 at 9:55 AM
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what do you think about the 26.5 area?
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  • BruceM
  • 20-Jun-2008 at 10:00 AM
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es is trying to show strength as YM and NQ tap on new lows with a new low TICK reading..I think only one of two things will happen soon...they will rally to get above opening range or they will flop over to get down into the 24 area...
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  • BruceM
  • 20-Jun-2008 at 10:02 AM
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flat at 27.75...not liking long with all going lower now
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  • BruceM
  • 20-Jun-2008 at 10:04 AM
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I'd like to see what happens down at the 24 - 22 area if they can get it down....
quote:
Originally posted by ksaieh

what do you think about the 26.5 area?
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  • BruceM
  • 20-Jun-2008 at 10:06 AM
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I'm trying again from 23.75.....long...
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  • ksaieh
  • 20-Jun-2008 at 10:08 AM
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ok. im long 24.5
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  • BruceM
  • 20-Jun-2008 at 10:09 AM
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biggest volume spike of the day happened down there..now the trick will be to see if it signifies an exhaustion in selling....trying for 26.50..minus 1150 in ticks ....still don't like it...would have prefered so see some kind of market divergence to help out on long fade
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  • ksaieh
  • 20-Jun-2008 at 10:12 AM
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thanx. filled at 26.5
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  • BruceM
  • 20-Jun-2008 at 10:15 AM
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got the 26.50..next stop for me is 28.50 and adjust next target or will get stopped out...that was fairly instructive and hope that helped give some idea / insight..
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  • BruceM
  • 20-Jun-2008 at 10:18 AM
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Cool..nice trade....they set that one up perfect...into the key number, high volume and low TICK...if we ever write a manual than that one will be a great "textbook" example..much like the rainbow merchants sell....lol!! Nice way to end the week
quote:
Originally posted by ksaieh

thanx. filled at 26.5
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  • BruceM
  • 23-Jun-2008 at 11:02 AM
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Interesting thing about the minus 8 if it comes is that it will break Fridays low....so I'd like to see a high Tick and volume flush to fade....Ticks made a new low into the minus 1100 area but the ES and YM didn't...NQ now trying to lead down...the tricky part about watching the main markets is how leadership can reverse and quite quickly...I prefer to see what is happening with the volume surges and tick readings sometimes you will see a divergence in the markets and a volume surge in the market thats trying to lead.....NQ just did that on the 10:52 time bar... EST......so is this a brief selling climax for a day trader?
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