Big Mike's Trading Forum
 

Go Back   Big Mike's Trading Forum

> Trading Forums > Traders Hideout > Index Futures Trading


Notices
     

ES and the Great POMO Rally
Started:October 28th, 2010 (06:51 PM) by Private Banker Views / Replies:55,307 / 918
Last Reply:August 22nd, 2013 (03:13 PM) Attachments:617

Welcome to Big Mike's Trading Forum.

Welcome, Guest!

This forum was established to help traders by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

BMT is fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 617  
 
Thread Tools Search this Thread

ES and the Great POMO Rally

Old August 11th, 2011, 03:35 PM   #721 (permalink)
Elite Member
Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Optimus/Rithmic
Favorite Instrument: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,074 since Oct 2009
Thanks: 2,231 given, 3,280 received


tigertrader View Post
Could see 1195.00...today!

I have these levels on my radar...

Please register to view the post attachment(s), image(s), or screenshot(s) - it's simple and free.

Reply With Quote
     
The following 5 users say Thank You to trendisyourfriend for this post:
     

Old August 11th, 2011, 04:35 PM   #722 (permalink)
 Vendor: www.leprivatebanker.com 
La Jolla, CA
 
Trading Experience: Master
Platform: Multiple
Broker/Data: Multiple, Sierra Chart, IQ Feed, Trading Technologies
Favorite Instrument: ES, CL
 
Private Banker's Avatar
 
Posts: 1,033 since Jul 2010
Thanks: 1,708 given, 3,274 received

Wow! Yet another crazy day! What in the world happened here?!!! Lol! Well, one thing I'm very happy about is my decision to just continue to intra-day trade this chaos. I mean, I believe we had an 81 point swing today. This is really getting to be crazy (but good).

Market opened down (again) and drifted higher while being somewhat choppy. And then just like two days ago, we get this flurry of buying/short covering into the afternoon close. It was absolutely amazing. Then right before the close, we get roughly a 20 point drop. Gone are the days of an 8 point range day, lol! Once again, price closed at or below the 1171 area which was a swing low back in November of last year. What's next?! Lol!

BofA is still looking interesting as it's stuck on Bear Island.

Attached Thumbnails
ES and the Great POMO Rally-es-09-11-5-min-8_11_2011.jpg   ES and the Great POMO Rally-2011-08-11-bac.jpg   ES and the Great POMO Rally-2011-08-11-es.jpg  
Reply With Quote
     
The following 3 users say Thank You to Private Banker for this post:
     

Old August 11th, 2011, 05:35 PM   #723 (permalink)
Market Wizard
Philly, Pa
 
Trading Experience: Master
Platform: NinjaTrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Instrument: ES, ZB
 
tigertrader's Avatar
 
Posts: 1,932 since Jul 2010
Thanks: 2,268 given, 5,537 received
Forum Reputation: Legendary


As I remarked 2 days ago, the US “economy” is still in decent shape as private payrolls continue to gain, and corporate profits continue to rise as a result of increased productivity due to lower labor costs. So, it was no surprise that the bulls came out in force today, capitalizing on a very "convenient" drop in jobless claims and record earnings from Cisco, and ramped up stocks and just about everything else in sight.

As alluded to last night, the Bovespa surged 3.8% today, as emerging shares showed good relative strength. Treasuries and gold were big losers on the day, as capital temporarily flowed back into risk assets, while the Swiss franc was the biggest loser as the Swiss allowed the franc to be temporarily pegged to the euro.

The market made a strong statement today, in an effort to re-confirm and validate the post FOMC rally it showed us the other day, and is now within easy reach of of the 1232.00 area, which represents a 50% retracement of the down move, monthly S2, and 20 EMA. The 1264.00 area represents a 61.80% retracement, monthly S1, 200EMA, and the level we sold off from the night the BOJ bought dollars.

Given the damage done to the market and the extensive work that would have to be done overhead, it seems unlikely that the market could exceed these levels on a bounce. Accordingly, it would take considerably more work, for the market to penetrate these levels. IMO, a failure from these levels and subsequent new lows, is the more likely scenario.

Attached Thumbnails
ES and the Great POMO Rally-fut_image.ashx.png   ES and the Great POMO Rally-es-09-11-daily-12_27_2010-8_11_2011.jpg   ES and the Great POMO Rally-es-09-11-60-min-8_11_2011.jpg   ES and the Great POMO Rally-es-09-11-60-min-8_11_2011-mp.jpg  

Last edited by tigertrader; August 11th, 2011 at 06:44 PM.
Reply With Quote
     
The following 4 users say Thank You to tigertrader for this post:
     

Old August 12th, 2011, 03:15 AM   #724 (permalink)
Elite Member
australia
 
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Instrument: -
 
Posts: 220 since Sep 2010
Thanks: 104 given, 91 received

"A 15-day short selling ban, which will be implemented on Friday morning across several European countries, has attracted opprobrium from market participants, who see the restrictions as a superficial move that will do little to solve the underlying problems of the euro zone and stop market turbulence.

The majority of the comments from European traders who spoke to CNBC.com on Thursday night were not fit for publication.

Regulators hope that the ban on short-selling in France, Italy, Spain and Belgium will reduce speculative action and curb the aggressive sell-offs that have hit markets over the past week......"


Reply With Quote
     
The following user says Thank You to jonc for this post:
     

Old August 12th, 2011, 04:34 AM   #725 (permalink)
Membership Revoked
Oslo, Norway
 
Trading Experience: Advanced
Platform: CQG, Excel
Favorite Instrument: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,186 received


jonc View Post
"A 15-day short selling ban, which will be implemented on Friday morning across several European countries, has attracted opprobrium from market participants, who see the restrictions as a superficial move that will do little to solve the underlying problems of the euro zone and stop market turbulence.

The majority of the comments from European traders who spoke to CNBC.com on Thursday night were not fit for publication.

Regulators hope that the ban on short-selling in France, Italy, Spain and Belgium will reduce speculative action and curb the aggressive sell-offs that have hit markets over the past week......"


Yes, I love this capitalistic system we have, free markets and all. Laissez-faire is firmly establishing its prevalent position...

First they prop up these institutions with countless billions, and on top up that they ban short selling. Sure sounds like a recipe for prosperity. How about doing something about the underlying problems?

Reply With Quote
     
The following user says Thank You to Lornz for this post:
     

Old August 12th, 2011, 04:53 AM   #726 (permalink)
Membership Revoked
Oslo, Norway
 
Trading Experience: Advanced
Platform: CQG, Excel
Favorite Instrument: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,186 received


ron99 View Post
Can I ask what at what price you put these on at? Do you still have them?

I've had LEAPS on various levels for quite some time, in addition to some shorter term positions. I don't really want to go into detail about all my positions, but I did lighten up my load on the way down. I should have taken more of my oil puts off, though.


ron99 View Post
So are the ES day traders making money this week or are they getting chopped up?

Chopped up? I've never seen more beautiful trends... You even get several a day!

Reply With Quote
     
The following 2 users say Thank You to Lornz for this post:
     

Old August 12th, 2011, 08:45 AM   #727 (permalink)
Elite Member
Milan (I)
 
Trading Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Instrument: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,621 since Oct 2010
Thanks: 1,187 given, 1,891 received

3 days ago, https://www.bigmiketrading.com/index-futures-trading/6393-es-s-p-500-futures-contract-great-pomo-rally-67.html are you ready Captain?:



Reply With Quote
     
The following 2 users say Thank You to redratsal for this post:
     

Old August 12th, 2011, 08:57 AM   #728 (permalink)
Market Wizard
Philly, Pa
 
Trading Experience: Master
Platform: NinjaTrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Instrument: ES, ZB
 
tigertrader's Avatar
 
Posts: 1,932 since Jul 2010
Thanks: 2,268 given, 5,537 received
Forum Reputation: Legendary




I pity the poor fool, that fades you !!!

Reply With Quote
     
The following 2 users say Thank You to tigertrader for this post:
     

Old August 12th, 2011, 10:12 AM   #729 (permalink)
Market Wizard
Philly, Pa
 
Trading Experience: Master
Platform: NinjaTrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Instrument: ES, ZB
 
tigertrader's Avatar
 
Posts: 1,932 since Jul 2010
Thanks: 2,268 given, 5,537 received
Forum Reputation: Legendary

I am really going to miss the volatility when the liquidity returns to the market. Eventually, the market will get thick again, and the HFT's and program's effects will be mitigated by the increased liquidity. For all of us dopamine deprived traders with ADDH, these markets have been a godsend. There have have not been any interminable periods of waiting for trades to materialize, just the rapid succession of protracted moves, as the market decisively metes out it's justice.

It won't last forever, so take advantage of it while you can!!!

Attached is weekly VWAP. ( aka, Red's Ouija board)

Could be it to the upside, for the week.

Attached Thumbnails
ES and the Great POMO Rally-es-09-11-60-min-8_12_2011.jpg   ES and the Great POMO Rally-es-09-11-30-min-8_12_2011.jpg  

Last edited by tigertrader; August 12th, 2011 at 11:48 AM.
Reply With Quote
     
The following 4 users say Thank You to tigertrader for this post:
     

Old August 12th, 2011, 01:25 PM   #730 (permalink)
 Vendor: www.leprivatebanker.com 
La Jolla, CA
 
Trading Experience: Master
Platform: Multiple
Broker/Data: Multiple, Sierra Chart, IQ Feed, Trading Technologies
Favorite Instrument: ES, CL
 
Private Banker's Avatar
 
Posts: 1,033 since Jul 2010
Thanks: 1,708 given, 3,274 received



tigertrader View Post
I am really going to miss the volatility when the liquidity returns to the market. Eventually, the market will get thick again, and the HFT's and program's effects will be mitigated by the increased liquidity. For all of us dopamine deprived traders with ADDH, these markets have been a godsend. There have have not been any interminable periods of waiting for trades to materialize, just the rapid succession of protracted moves, as the market decisively metes out it's justice.

It won't last forever, so take advantage of it while you can!!!

Attached is weekly VWAP. ( aka, Red's Ouija board)

Could be it to the upside, for the week.

Yeah, this has been amazing! And I agree, the bid/ask size has dropped significantly. We're seeing 1,000 - 2,000 bid/ask on average right now vs 7,000+ on average during normal market conditions. Surprisingly, I haven't experienced any slippage during this. Curious to see if anyone else has or not.

Reply With Quote
     
The following 3 users say Thank You to Private Banker for this post:
     

Reply



Tags
/es, 123, 9.1, aapl, account, account size, accounts, accurate, adp, ai, alert, alternative, amazon, analysis, angle, ati, atm, automated-trading, ava, axis, bac, bankruptcy, bars, basic, bat, bear market, beat, behavioral, benchmark, bernanke, beta, bid, bid ask, bid/ask, big account, big mike, bond, bonds, book, bot, bovespa, breadth, breakout, breakouts, bull market, calls, canada, candle, cd, cds, ces, challenge, change, channel, chaos, chart, chart patterns, charts, china, choice, chop, christmas, cl, clearing house, climate, close, cme, cnbc, code, cog, color, combination, combine, commodities, commodity, comparison, composite, condition, congestion, congress, connecting, connection, contracts, control, corporate, correlation, costs, cot report, cpi, crash, create, credit, credit spreads, crisis, crude, crude oil, cumulative delta, currency, custom, daily, daily range, dalton, data, data series, dates, day, day session, day trade, daytrading, debt, debt ceiling, deflation, demand, demo, dept, development, direction, discipline, discretionary, divergence, dividend, dma, doc, dog, dollar, dollar index, double bottom, double top, dow, dxy, e-mini, earthquake, ecb, eco, economics, edge, education, el, emotions, employment, enter, entry, equilibrium, equity, errors, es, eu, euro zone, european, event, exchanges, execution, exit, expansion, extend, extension, facebook, fb, fear, fed, federal reserve, feed, fill, filled, financial markets, fix, flag, flatten, flow, fold, fomc, for sale, forecast, format, formula, free, function, funds, future, ga, gaming, gap, gaps, gartley, gc, gdp, germany, global, gold, gp, grains, greater than, greece, greek, group, habits, hammer, head and shoulders, hedge, hedging, high, hold, holiday, horizontal, hosting, how to, how to trade, i/rt, imf, implied, index, index futures, indexes, indicators, inflation, instrument, interest, interest rate, interval, intraday, intuitive, ipo, jackson, japan, kelly, key levels, krona, language, learn, learning, level, leverage, liar, life, limit, linda raschke, liquidity, list, live, living, load, lot, love, low, mac, macd, management, margin, market, market cycle, master, materials, math, maximize, median, meeting, mental, metals, mind, mirus, ml, mode, money flow, money management, move the markets, moves, moving average, mp, multiple, music, musical, naked, nasdaq, negative correlation, new high, news, nikkei, ninja, ninja 7, ninjatrader, note, nq, nt7, nyse, offset, open, opening range, option, options, order, orders, ose, outsourcing, overnight session, paid, paper, parameters, pat, pattern, patterns, pennant, percent, perception, performance, period, personal, philosophy, phone, physical, pivot, plan, platforms, plot, plugin, pomo, position size, position sizing, positions, practice, prediction, price, price action, profile, profit, profit taking, profitable, program, program trading, programming, protection, psi, purpose, puts, qm, question, questions, range, range bars, ray, ray dalio, real time, ream, recognition, reliable, reload, research, retire, retracement, risk, risk management, robert, rollover, rsi, ruin, rules, runner, russell, s-p-500, sample, save, scale in, scam, searching, secondary market, sentiment, series, session, settings, short selling, short term, signal, signals, sim, simple, slope, slow stochastics, sma, small, social, software, sound, sp, spain, spike, split, spreads, squeeze, start, statistical, steenbarger, stock market, stocks, stop, stop loss, stops, stream, strength, stress, stronger than, supply, supply and demand, support, support and resistance, survey, swap, swing, system, systems, ta, tape, tape reading, targets, tax, td, team trading, technical, techniques, television, template, terms, testing, texas, tf, thank you, tick, tick chart, ticker, ticks, tile, time, time frames, trade, trader, traders, trades, trading, trading futures, trading plan, trailing, trailing stops, travel, trend, trend following, trend line, trendlines, trin, tv, type, uk, united states, university, update, values, variable, vca, vendor, vertical spreads, vix, volatility, volume, vp, vps, webinars, wedge, wolfe wave, ym, zone
     

Big Mike's Trading Forum > Trading Forums > Traders Hideout > Index Futures Trading > ES and the Great POMO Rally

Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Great frozen pizza Tundi Off-Topic 6 June 10th, 2011 10:47 PM
FED'S SCHEDULE OF UPCOMING $32B IN POMO'S tigertrader Traders Hideout 1 October 13th, 2010 05:58 PM
A great trader to learn from. GoldStandard Traders Hideout 15 February 12th, 2010 11:45 AM
NATURE, OUR GREAT MENTOR. joyginy Psychology and Money Management 12 January 6th, 2010 12:34 PM
ES doing a great job of honoring BBs and TLs Saroj Index Futures Trading 6 July 29th, 2009 02:10 PM


All times are GMT -4. The time now is 09:02 AM.

Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Copyright © 2014 by Big Mike Trading. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts

Page generated 2014-04-16 in 0.17 seconds with 20 queries on atlantis via your IP 54.204.66.38