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Happy 4th J!!
Don't mean to be Mr Bad News again, but the bears shouldda taken this lower by now (as I mentioned a few days ago) for this to be the usual "slow pitch" play. The risk now is for a sizable gap up open Friday as they run all them stops just above the last few day's HODs. For those who scale in/out (along w/J), this will be another chance to add to the short. But, again, I'd leave even more room yet for better entry. Friday is setting up to be the same as every other "jobs Friday" -- usually quite good for trading, and good sized gaps... and ones that often do not fade that day.
All right now lets see if this is a "sell the news event"? May be hard to tell until Monday as volume will be low today and easy to push the market around.
So much for not fading the gap!!
yup...impressive display by the bears... I'm very happy w/my short position.I posted this am in premkt (here).... don't see the post now, though. Something buggy. Short ES add from 1625.75.
Sure u did, what's your point of posting except try to make yourself just smarter than anyone else.
The post is honest and accurate, Mr Trad. If you've been around here a quarter as long as I have, you'd know my reputation.
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should have remembered... methinks any proprietary buy/short system is doomed to failure in this exceptionally incomprehensible, illogical market. Whatever impulse is driving this market is strronger than mean reversion, overbought indicators, and any other. All is vanity. Last year's excellent track record notwithstanding, this year it's sad. Just sayin...
David,For a sense of what is working, check out: http://dark-liquidity.com/.I recently alerted the owner of the site to J's blog and he's beginning to track its record.Alex
But as we all know past performance tells us little or nothing about future results.