More On Wednesday's Rally

We Have A Lot Of Injuries Out There Today

Below is the previous session telling us what to expect today. Looks like we're going above 1038, doesn't it?

Below we have today's session. Oh look! It went above 1038!

Below, we had a nice squeeze just before the open. When it popped it propelled us up and through 1038.

Daily looked like a buy.

Weekly looked like a buy.

And now for those scalpers out there who like to risk the chop. Here is the expanded view of the 2400 tick. You can see how easy it is to get disoriented.


But you already knew that right?

One way days, like today are tough if you trade your thoughts and feelings. They are so powerful that you can take a trade almost anywhere... and if you're going with the one way trend you could make some money.

WILD THINGS!

Notice their teeth

Notice their claws

Notice the points on Max's crown

Now notice the FRO

OK, This Is What We Get Paid The Big Money For

We were trying to put in a bottom last Friday.

Then late Monday night they plunged it down as if it was going to Armageden, only to attempt a shake-out.

They ran it up overnight as if it was going to the moon.

About thirty points up to the open!

Then they s-l-o-w-l-y reversed after an enthusiastic open.

They tried to get you thinking "sell-off" all day.

But they did what they were planning to do all along.

BUILD THAT BOTTOM!

And a good bottom doesn't get built in one day. It may chop around down there for a while. It may even break lower. Look at your Daily chart to monitor support. But we will know.

Warning!
Futures Trading Disclaimer: Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

Market Manipulation Is Our Friend

Our friend from Annapolis, Paul the "Animal" sent me this video. Listen to this guy Karl Denninger, cry about the high frequency traders that play in the e-mini market.

Like I told Paul,
Don't listen to this stuff.
The FRO reveals actual buy and sell pressure. Not tape activity.
This guy is whining because he's like the rest of the voodoo traders out there with their silly rules and superstitions. They are 'beat-up' but they don't want to stop running around looking for one silver bullet after another, long enough to figure out the only thing that matters. Buying and selling pressure.

I wish there was 10 times the volume out there than there is. The tick charts would move faster. The FRO formations would set-up quicker too.

Deninger is talking about a few ticks.

Do you want to be a bitcher and a moaner like Karly girl?

Or do you want to clean house on this market everyday and enjoy watching the herd go over a cliff?

Thanks for the video Paul. I've never seen anyone sit there and film the phantom orders like that. It's good to know that even the so-called seasoned people like Karl are distracting themselves with tape watching.

Get your binez' done before this gravy train stops rollin'. You never know what these g'ment gremlins will do next.

Stay quiet and grounded instead of groundup.

Can We Build A Bottom?

Squeeze Alert

Above we have this morning's action

Below we have the Friday before Memorial Day last year 2009.
http://angelo-lasthopetrader.blogspot.com/2009/05/blog-post.html

Stay Alert.