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Agree, this was a big big reversal day, up by 3 to 4% off the lows.
However, I believe the terrorism and geopolitical stuff trump fundamental and
technical analysis ( oooh, heresy!), especially since tomorrow is Friday. My
experiences during and after 911 has taught me a few lessons, main one being
don't be to rigid with the TA and fundamentala, especially when confronted by
events that are far more signicicant than MACD, PC, overbot, oversold, etc.
Hence, my forecast is for similar action as today, except in different
direction:
GAP UP, then down for rest of day, finishing at lows.
I see they are cooperating in Globex, futures up by a few.
Regards,
--- Ben <profitok@xxxxxxxxxxxxx> wrote:
> Hello
>
> Even when you look at the cash today's candle is VERY bullish
> I never use data from before 930 am in my testing
> I do not trade in this hours
> (if I have a position trade in sp05u,) then I just enter in globex my stop
> loss
> at 20 e mini for 4 big contracts,
> add to the bullish candle a bullish p/c ratio and you have the making of a
> bullish day
> the fly in the ointment is: new highs decrease drastically
> Ben
> ----- Original Message -----
> From: "Deosaran Bisnath" <deobisnath@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>; <e-mini_traders_anon@xxxxxxxxxxxxxxx>
> Sent: Thursday, July 07, 2005 8:38 PM
> Subject: [RT] LOWS made in pre-market session: are they "valid" ??
>
>
> > Although these days there is hardly a clear distinction between
> > pre-market,
> > normal, and after-hours sessions, with all these morphing into one huge
> > contiguous continuous session from Sunday night Far east to Friday
> > afternon
> > EST, one always thought that when we refer to market making a high or low,
> > we
> > usually refer to the normal session, e.g. 9:30 am to 16:15 pm for S&P
> > futures.
> >
> > So, how about today? Those lows were made pre-market, and market closed at
> > the
> > highs, 3 to 4 % higher for the indices. Would you consider those lows to
> > be
> > "THE LOW" on a ST or IT basis? In most similar cases it hardly matters
> > because
> > the actual normal session low would not be too far away from the pre-mrket
> > low....not today! Reason I ask is to define the low and project fro mthat
> > point
> > ....
> >
> > Regards,
> >
> >
> >
> >
> > ____________________________________________________
> > Sell on Yahoo! Auctions - no fees. Bid on great items.
> > http://auctions.yahoo.com/
> >
> >
> >
> >
> > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
> >
> >
> > --
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>
>
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