ES Wednesday 10-01-2014


  • 2
  • Aladdin
  • 1-Oct-2014 at 9:30 AM
  • Rep: 2,830
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A new day, new month, a new quarter.

O/N inventory is short.
There is a gap from 8/18 to be filled at 1953.00 - 1953.50

With yesterday's value lower and higher volume, I am short biased.
And I am on open drive alert (as always).

Numbers above: 1968.25
Numbers below: 1961.00, 1957.75, 1951.00
  • 1
  • Aladdin
  • 1-Oct-2014 at 9:38 AM
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  • Posts: 270
Looks like an open drive so far...
  • 1
  • Aladdin
  • 1-Oct-2014 at 9:39 AM
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  • Posts: 270
8/18 gap filled.
  • 0
  • NewKid
  • 1-Oct-2014 at 9:44 AM
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Good call Aladdin
  • 0
  • duck
  • 1-Oct-2014 at 9:47 AM
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next gap to fill is weekly at 45.25 to 48.25
  • 0
  • Aladdin
  • 1-Oct-2014 at 9:47 AM
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  • Posts: 270
Thanks New Kid, my open drive paranoia served me well today...
  • 1
  • NewKid
  • 1-Oct-2014 at 9:51 AM
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This might be a dumb question, but for Open drive since the price opened outside yesterday's value area, you expect them to return to the original value area, right? But the opposite happened today. So is my understanding of Open Drive incorrect?
  • 3
  • Aladdin
  • 1-Oct-2014 at 10:04 AM
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  • Posts: 270
From reading Jim Dalton's Mind over Markets [page 63-64], I understand that an open-drive can occur from anywhere in the profile.
(Hence my open-drive paranoia...).
  • 0
  • Aladdin
  • 1-Oct-2014 at 10:05 AM
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  • Posts: 270
That is it for me for today.

Thanks everyone.
  • 0
  • NewKid
  • 1-Oct-2014 at 10:07 AM
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Thanks for the reference to the page numbers. I will read up on it.
  • 0
  • PAUL9
  • 1-Oct-2014 at 10:55 AM
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duck,
can you give what symbol you are using and what week created a gap 48.25 to 45.25?
  • 0
  • PAUL9
  • 1-Oct-2014 at 1:29 PM
  • Rep: 14.9k
  • Posts: 1,170
Thanks for the gap info, duck...

RE me start buying... This is certainly the area to try if only for a move back up to 46.50, but honestly, I am sitting and watching now... while I wrestle with some data problems...



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