Today was a ridiculously snail paced day that squeezed shorts into the close for targets 32/34.
Needing the patience of a Saint, the first two gyrations in the IB trapped shorts and then the squeeze higher move should be becoming more familiar for us now.
Dreadful trading day, but BOM bias again prevailed.
I have many of his books and will be reading this one as well 🙂 thanks Matt. One of my daughters has met him several times, down to earth
Kind of the same with the E-mini s and p , buy pullbacks and snooze while the inchworm climbs
RT HamzeiAnalytics PMT Primary Target for Issue #211 is met PMT Subs: Lighten up !!!
Zeek: [7:53 AM] I have upside targets at 31 and 33.5 E: [9:03 AM] next completion targets i have 34.25 after 30.25 DT4$2 step by step
Zeek Snodgrass [7:52 AM] GM
[7:52] Do not expect same type of day as the last two
[7:53] If we pb, then expect a retracement
[7:53] I have upside targets at 31 and 33.5
[7:53] downside I have 19 16.75 and 13.75-12.75
[7:54] we could always have a narrow consolidation range which I think is the 60% possibility today
[7:54] auto sales only econ news today
[7:55] I will be back when I can, likely to miss the open
Renato Santos [8:45 AM] GM ALL
eminiwizard[8:55 AM] gm all
[8:55] thanks zeek
[8:56] reviewing upside targets
[8:56] 37.5 is resistance for me
[8:57] and yest we said 28 to 32 next
[8:58] so lets buffer that with 34 meaning 24/ 34 / 29 middle
eminiwizard [9:03 AM] next completion targets i have 34.25 after 30.25, then 37.5
[9:04] yest mddle is 22
[9:05] current weekly range is 12.5 points, 23.25 mid
[9:05] 18 week opened
[9:06] so 12/ 32/ 22 mid , and then 18/ 38/ 28 mid
[9:06] 25 /30 / 27 .5 mid right now
eminiwizard [9:17 AM] https://zoom.us/j/485358504 zoom zoom
ZOOM
09:21:14 From Dennis Parmelee : good morning
09:29:20 From Dennis Parmelee : surprised if we get 37.5 today
09:29:33 From Dennis Parmelee : so 18/ 28/ 38 is biased for short side
09:31:21 From Dennis Parmelee : trying a few shorts today for small potatoes is plan
09:31:21 From Simon : little? what’s E’s little?
09:31:42 From Dennis Parmelee : opening range risk 2 make 2
09:32:09 From Dennis Parmelee : hoping the generals come south
09:32:13 From Dennis Parmelee : they get 5
09:32:47 From Dennis Parmelee : and using the 24/ 34/ 29 idea
09:33:34 From Dennis Parmelee : we completed 8/ 18/ 28
09:33:54 From Dennis Parmelee : 12/ 22 / 32
09:35:08 From Dennis Parmelee : 22/ 32/ 27
09:35:23 From Dennis Parmelee : 14/ 24/ 34
09:35:30 From Dennis Parmelee : and 22/ 32/ 27
09:37:10 From Dennis Parmelee : sideline if conservative
09:37:26 From Dennis Parmelee : and especially if no profits overnight
09:37:30 From Simon : German markets closed today
09:37:38 From Dennis Parmelee : as i assume most are in narrow range
09:38:54 From Dennis Parmelee : 25 support for 30/32
09:39:00 From Dennis Parmelee : trend trade
09:39:07 From Dennis Parmelee : half gap and gap
09:39:15 From Dennis Parmelee : using 32/34 resistance
09:40:16 From Zeek Snodgrass : gm
09:41:47 From Simon : gm Zeek. Gaps open on Dow, NQ and ES still
09:42:05 From Dennis Parmelee : 27 half gap
09:42:33 From Dennis Parmelee : 26.25 gap
09:45:45 From Dennis Parmelee : risk 2 make 2
09:46:00 From Dennis Parmelee : paid by gap/ angel if short
09:46:09 From Dennis Parmelee : need several entries
09:46:16 From Dennis Parmelee : range so small
09:58:26 From Zeek Snodgrass : we have b/o yesterday after 10am for those looking for a timing trade
09:58:32 From Zeek Snodgrass : still inside day
09:59:04 From Zeek Snodgrass : 28 angel no demon
10:00:19 From Dennis Parmelee : can break both sides ib
10:00:29 From Dennis Parmelee : sorry meant overnight range
10:01:26 From Zeek Snodgrass : on bog volume for 3:55 candle
10:03:23 From Zeek Snodgrass : big
10:03:35 From Zeek Snodgrass : over 250k
10:08:38 From Dennis Parmelee : conservative traders are sidelined
10:09:12 From Dennis Parmelee : aggressive shorts using 30/32 as resistance for a few
10:09:30 From Dennis Parmelee : agg longs using 25 support for buy
10:10:09 From Dennis Parmelee : range trade risk 2 make 2
10:12:06 From Dennis Parmelee : yest high is 27
10:12:29 From Dennis Parmelee : shorts need to penetrate and remain under
10:12:40 From Dennis Parmelee : or we are still in breakout mode
10:18:03 From Renato : patience… no rush…
10:24:19 From Dennis Parmelee : ho hum
10:25:47 From Zeek Snodgrass : employment report Friday
10:26:01 From Zeek Snodgrass : I hope enxt 3 days are not 3-4 pt ranges
10:26:32 From Zeek Snodgrass : volume not enough to keep the lights on
10:30:21 From Dennis Parmelee : best we can hope for is come back a bit short side to find better buying edge
10:37:55 From Dennis Parmelee : thinking market tired
10:38:16 From Dennis Parmelee : dont short dull market
10:38:23 From Di : dow still strong
10:39:27 From Dennis Parmelee : bom bias is long
10:39:41 From Dennis Parmelee : but yest afternoon bars sooooo small
10:39:53 From Dennis Parmelee : so i think odds better shorts ide
10:41:48 From Dennis Parmelee : 2.5 points matd
10:41:55 From Dennis Parmelee : better short side
10:45:59 From Simon : 2035 election low in cash market
10:47:54 From Simon : 7 green weekly bars on my chart
11:21:30 From Dennis Parmelee : dont short the lows
11:21:44 From Dennis Parmelee : think small
11:23:20 From Dennis Parmelee : range still
11:23:39 From Dennis Parmelee : probably get a move at lunch
11:25:14 From Dennis Parmelee : using ping pong for now
11:25:30 From Dennis Parmelee : 5 rth constructive above blue line
11:28:41 From Dennis Parmelee : first touch is usually a bounce
11:28:52 From Dennis Parmelee : then we need to see if it gets chewed
11:29:10 From Dennis Parmelee : like we are doing with 15 globex
11:31:34 From Dennis Parmelee : if u don’t trade today
11:31:39 From Dennis Parmelee : that’s ok
11:32:04 From Dennis Parmelee : small range not conducive to risk reward ideas
11:35:49 From Simon : lol 1pt
11:37:53 From Simon : o/n high and low still not touched?!!
11:40:34 From Dennis Parmelee : breakout at lunch i think
11:51:17 From Dennis Parmelee : primary trade was short this morning
11:51:36 From Dennis Parmelee : meaningless
11:51:57 From Dennis Parmelee : support intact
11:57:13 From Simon : Marking time. On a weekly chart … the rainline was last touched 6 years ago
11:57:26 From Dennis Parmelee : lol
12:06:27 From Simon : yea
12:06:32 From Simon : ohy you
12:06:38 From Simon : what you doing
12:06:45 From Simon : asking for students at this time!
12:06:51 From Simon : I do blame you 🙂
12:08:34 From Simon : hehe, enjoy your lunch was just making myself laugh
12:44:04 From Dennis Parmelee : 1 tick higher high not out of the question
12:44:46 From Dennis Parmelee : longs stops up or just capture and go have lunch
12:45:24 From Dennis Parmelee : squeeze yet again
12:45:40 From Dennis Parmelee : 2 ticks missing from a 5 point swing
12:45:50 From Dennis Parmelee : sorry 4 point swing
12:46:04 From Dennis Parmelee : five is at 30.75
12:46:27 From Dennis Parmelee : brb
12:46:57 From Dennis Parmelee : dont short the lows but dont buy todays high either
12:52:13 From Zeek Snodgrass : bbl
12:55:17 From Dennis Parmelee : me too
13:35:56 From Dennis Parmelee : ridiculous
13:51:20 From Renato : lol
13:51:43 From Renato : +2 is huge today
13:55:02 From Simon : yuge, bigly, the best and when it comes to ranges people say I’m the best 🙂
13:57:07 From Dennis Parmelee : i cant imagine vix in negative territory
13:57:16 From Dennis Parmelee : seems to be where we are headed
13:58:09 From Dennis Parmelee : jam
13:58:28 From Dennis Parmelee : try to bump stops one more time
13:59:39 From Simon : i know currency traders with sell orders at 2532 -37 range
13:59:49 From Simon : and they don’t trade ES
14:00:56 From Dennis Parmelee : 50 point idea from 85
14:01:16 From Dennis Parmelee : bracketing 35 +/- 2.5
14:02:55 From Simon : yea. whether they are right or not who knows but when those that dont trade it start looking at it … last man standing
14:03:28 From Dennis Parmelee : right
14:15:47 From Zeek Snodgrass : bots on strike
14:15:56 From Zeek Snodgrass : demand more coal
14:16:17 From Simon : feed those hamsters 🙂
14:18:46 From Dennis Parmelee : rofl
14:19:49 From Zeek Snodgrass : one ticker for now
14:20:12 From Simon : quick, move your demon before it’s too late
14:20:18 From Zeek Snodgrass : volume just over 500K for entire day
14:20:25 From Zeek Snodgrass : that is amazingly low
14:20:32 From Zeek Snodgrass : is there a holiday today?
14:20:42 From Simon : holiday in germany
14:20:49 From Simon : riots in spain
14:20:53 From Zeek Snodgrass : did some kick the plug out?
14:21:03 From Zeek Snodgrass : riots are bullish in USA
14:21:08 From Simon : rocket prep in NK
14:21:23 From Zeek Snodgrass : I hope we shoot ir down
14:21:26 From Zeek Snodgrass : it
14:21:47 From Simon : 10th Oct (in a week) is a big NK celebration
14:22:05 From Zeek Snodgrass : Day of the NUKES?
14:22:10 From Simon : and the 18th too I think
14:22:50 From Simon : the whole Syria and Iraq kurds thing is being ignored too atm
14:23:13 From Zeek Snodgrass : We get to know nothing about all that is important
14:23:19 From Simon : turkey and iran working together!?
14:23:46 From Zeek Snodgrass : Iran and Nkorea working together and this is certain
14:23:56 From Simon : turkey buying arms from russia and turning back on NATO
14:24:00 From Zeek Snodgrass : Pakistan gave Nkorea their nuclear technology
14:24:14 From Simon : plenty of chess pieces being moved around
14:24:28 From Zeek Snodgrass : time to tip the board over
14:24:35 From Zeek Snodgrass : find out how many rats below
14:24:36 From Simon : just didn’t know who moves first lol
14:25:11 From Zeek Snodgrass : There w3as a time when you could expect the CIA to handle these sort of problems
14:25:19 From Dennis Parmelee : 30.25 to 30.75 has been upside target
14:25:20 From Zeek Snodgrass : Guess they are pissed about soemthing
14:25:26 From Dennis Parmelee : not sure we can get there
14:25:34 From Zeek Snodgrass : or Obama took away they secret weapon
14:25:34 From Simon : ambitious targets E
14:25:43 From Zeek Snodgrass : lol
14:26:36 From Simon : whats real funny is my UK spreadbet broker has 0.6 spread on ES, right now sell 2529.33 and buy 2529.93
14:27:03 From Zeek Snodgrass : I used ot think giving a trade 10-15 minutes to develope was being generous. Now I think 3 days may be the new norm
14:27:19 From Zeek Snodgrass : come back Friday
14:30:47 From Zeek Snodgrass : 2 1/2 hours late
14:31:28 From Zeek Snodgrass : we have 5 pts
14:31:36 From Zeek Snodgrass : time to retire
14:32:10 From Zeek Snodgrass : fwiw VIX belongs in the mid 7’s
14:36:20 From Dennis Parmelee : 31.75 is t1
14:36:25 From Dennis Parmelee : resist
14:41:04 From Dennis Parmelee : sorry 31.5
14:41:40 From Dennis Parmelee : wicked day
14:46:49 From Dennis Parmelee : timing trade
14:47:16 From Dennis Parmelee : paid for sure by 3 pm or 31, whichever comes first
14:48:39 From Dennis Parmelee : shorts above 32/33, 2 to 3 point stop
14:49:06 From Dennis Parmelee : more of a swing idea from 85 low
14:49:19 From Dennis Parmelee : agg can hit anytime
14:49:35 From Dennis Parmelee : above 30 to 32
14:59:05 From Zeek Snodgrass : dfd
14:59:25 From Zeek Snodgrass : only gets hard for me
14:59:31 From Zeek Snodgrass : harder
14:59:38 From Zeek Snodgrass : cya
14:59:40 From Dennis Parmelee : be well
15:05:31 From Dennis Parmelee : time and price say longs trail only or tight stop
15:05:35 From Dennis Parmelee : 1 point
15:13:03 From Dennis Parmelee : no interest in market at this klevel
15:13:25 From Dennis Parmelee : just squeeze liefe out of undisciplined traders
15:18:14 From Dennis Parmelee : 4 back is 28.75
15:18:24 From Dennis Parmelee : 2 points
15:18:43 From Dennis Parmelee : major victory for shorts to get there
15:18:48 From Dennis Parmelee : huge if get 27
15:21:21 From Dennis Parmelee : that is your rth angel
15:26:42 From Dennis Parmelee : 29.5 breakout
15:26:51 From Dennis Parmelee : cannot break
15:27:23 From Dennis Parmelee : 1.5 hrs in this breakout
15:27:42 From Dennis Parmelee : 1.25 points
15:30:17 From Dennis Parmelee : doing nothing
15:34:58 From Dennis Parmelee : +50% hit
15:35:11 From Dennis Parmelee : from ovn
15:36:57 From Dennis Parmelee : targets 32/34 as resistance
15:37:24 From Renato : Thank you very much, E.
15:37:41 From Dennis Parmelee : late day squeeze
15:37:51 From Dennis Parmelee : bravo anyone long
15:37:56 From Renato : one good trade a day is all we need.
15:38:04 From Dennis Parmelee : yes
15:38:13 From Renato : not easy to hold!
15:38:15 From Dennis Parmelee : wasnt me today
15:38:23 From Renato : mainly the first 2 points…
15:38:31 From Dennis Parmelee : this run up from lunch
15:38:59 From Renato : more tomorrow, ty!
15:44:33 From Dennis Parmelee : shorting 32/34 resist
15:44:44 From Dennis Parmelee : try for 2 points if can gt it
15:55:12 From Dennis Parmelee : time for a swim
15:55:25 From Renato : enjoy!
15:55:37 From Renato : GN ALL
15:57:17 From Dennis Parmelee : gn renato
15:57:37 From Simon : thx E, laters
15:59:01 From Dennis Parmelee : 18 / 28/ 38
15:59:18 From Dennis Parmelee : 25/ 35/ 30
15:59:29 From Dennis Parmelee : 29/ 34
15:59:58 From Dennis Parmelee : 37.5 next target above 34
16:00:35 From Dennis Parmelee : gn al
16:00:46 From Dennis Parmelee : will post after closing
16:12:08 From Evan’s iPhone : Thank you E!
16:12:13 From Evan’s iPhone : thank you all!
18:51:36 From Dennis Parmelee : 33.5 hit
18:52:02 From Dennis Parmelee : had the right idea get paid 32 / 34
18:59:52 From Dennis Parmelee : https://content.screencast.com/users/EMWS/folders/Jing/media/7103f275-f1f4-4ec3-8ad9-7fa098ed08a5/2017-10-03_1859.png
