E-Mini Swing Trading
Discretionary Trading
System Trading
Archive for August, 2012
Most Recent
Read More
August 31, 2012

Going Nowhere Fast

I certainly was wrong about today promising to be a boring session. To my credit I was however right about it going sideways as we seem to be heading nowhere fast. This will be a very quick update as I am ready to embrace my well deserved long weekend and already have a ‘Maß’ (i.e. German 1 liter mug) of Hefeweizen waiting for me.

The highlight of the day on the charting side is that we may just get our second leg into a bonafide VIX buy signal. If you are a noob then don’t be confused by the terminology as it’s relative to equities. Per the rules please check the cheat sheet. Well, the fat lady hasn’t sung for the session yet but judging [...]

Read More
August 30, 2012

I Don’t Trust This Tape

As we are approaching the long Labor Day weekend I do not expect too much in terms of fireworks for the remainder of today’s session. Tomorrow we’ll most likely see a slow sideways churn as pretty much everyone worth their salt is already stuck in traffic on their way to the Hamptons. I myself may chime in if I see any activity on the board – and of course something interesting to write about.

No new setups today as I am not going to take on any additional positions ahead of Tuesday. I however wanted to leave you with a few key perspectives. The first one is that the spoos have touched their first level of support which is the 25-day SMA. It is [...]

Read More
August 29, 2012

Sideways Correction

Yesterday I posted a chart of the NYSE advance/decline ratio on which I highlighted that the past two weeks were more reminiscent of patterns we see during lows and not something we observe during advances. FWIW – right at the top I am also seeing our coveted Gothic Church Tower fractal, have a look:

Well, one of our fellow steel rats decided to chime in and shared some rather interesting statistics:

I see other things, that normally happen at lows. For example, ES open interest is  about 2.9 mil cars. Last time it was that high in end of May – beginning of June. A time before that was in end of November 2011. Also significant low. Sept – Oct [...]

Read More
August 28, 2012

A Few Salient Charts

I had a sudden TOS chart meltdown today and am still in the midst of recovering my studies and all my pertinent charts. Very very annoying and quite frankly I have to mince my words here as I’m pretty upset. In any case, emotions are for losers – let’s try to stay productive, shall we. I promised you guys a post after the bell today but since I’ll be spending the rest of my night rebuilding my setup I hope you don’t mind if I focus on only a few salient charts and then call it a day:

The spoos continue to battle with various Net-Lines and thus far have not mustered up the strength to push through. Yesterday’s low volume holiday [...]

Latest Posts
Read More
Read More
Read More

Read More
Read More
Cognitive Bias Carousel
  • Anchoring And The BandwagonAnchoring And The Bandwagon
    I’ve been tangentially following the news at a safe distance over the past week and frankly felt tempted to pinch myself every once in a while, just … more
Class In Session
Welcome To 2017
Blast From The Past: Statistical Musings
Ten Trading Rules For Avoiding Extinction
The Emotional Purgatory Of Cognitive Biases – Part 1
Practice Makes Perfect