Tuesday, May 21, 2024

Ignorance is now my best friend…

Sometimes is better to be ignorant, as knowing too much will only confuse you.  Like today for example.  Anyone with half a brain would have said that the horrible jobs number would have caused the market to sell off... but it didn't?  Ignorance is now my best friend...

I'll still have a weekend post up by Sunday night.  But for now... just enjoy the music!

Red

Red
Author: Red

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mmTesla
mmTesla
14 years ago

Well I think what would have made the market sell off hard would be outstanding job numbers, with the anticipation of the FED rising interest rates.

Red Dragon Leo
14 years ago
Reply to  mmTesla

Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…

You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.

When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.

Red

mmTesla
mmTesla
14 years ago
Reply to  Red Dragon Leo

Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.

mmTesla
mmTesla
14 years ago

Well I think what would have made the market sell off hard would be outstanding job numbers, with the anticipation of the FED rising interest rates.

Red Dragon Leo
14 years ago

Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…

You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.

When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.

Red

mmTesla
mmTesla
14 years ago

Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.

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