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When are the Bulls gonna get out the way for the bears? 3 days straight?

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RiskitBiscuit
Occasional Contributor
Three days straight Bullish growth, when are the Bears gonna start coming through. Any thoughts? Whats the trend guys?
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17 REPLIES 17
SimonPB
Valued Contributor
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Bentley
Frequent Contributor
If you can read volume you can see what is happening.
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Not applicable
In all the years I have known you as a trader - I have never known you to actually call long on anything
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Not applicable
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Bentley
Frequent Contributor
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Rams
Super Contributor
Volume does say something, but it does not define the trend, which is up....so we could be in end of wave 3 or end of wave 5.....and volume tells us of a correction...but we been milking this trend with stops, and when the correction comes, the market will take us out , at a profit, sure we will give some back, but we could also get a lot more...
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Bentley
Frequent Contributor
no it does not...definitely not...the dispersion of volume during a day can however indicate that a trend change is imminent. I see short level just above 500 is now in play 550 short here.
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Preston
Super Contributor
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Rams
Super Contributor
You are right about volume, and it may indicate a trend change, but it does not indicate that the trend has changed...the dispersion you see been there for some time now, at 41 q. 170, at 41300, at 41 400, now at 41 500.... My 15k profit , long intraday, says that the volume has its uses, but was not useful today...
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SimonPB
Valued Contributor
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Bentley
Frequent Contributor
volume was extremely useful today. It allowed me to identify that the short would be above 500 somewhere but that is a short with a good probability of success. Lets see how it pans out before we make any conclusions. Long mostly all happened pre market open (cash and ftse) and was untradeable (for me)
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Rams
Super Contributor
Well, if your system called for a short, then short you must be....it's your system, and traders should learn that they have to trade their system, not their bias....did you have a bias towards a short....you been around long enough, so I think you traded your system and did not ignore the long.....personally I like shorts on ALSI , they fast, clean and well defined.....so when you be selling and open the downside, I am in....
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Bentley
Frequent Contributor
yup ...some great opportunities into the close there. quite a few shorts sold.
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Rams
Super Contributor
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Bentley
Frequent Contributor
seems like we will make a profitable trader of you after all!
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koos2
Super Contributor
Is it not meaningles to know someone sold a few when you dont know how many they have in their population, and where the mean/median of that population is? I like mainlining on other drugs, the deeper you stick it in your vein, the deeper the thoughts, there's no more pain.
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Bentley
Frequent Contributor
agreed Koos...very good point....usually these kinds of declarations are made with some kind of no fail strategy for perception sake. I can only speak for myself when I say that I am nett short at the close at the levels indicated. A small profit has been taken on some of the position already with a few to increase the position as we close the small gap we have created just below 41600. Should the short be confirmed later I will add.
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