Tradechat Rooms: Yesterday’s Action

Charts, Commentary, MiM, mim

In the Tradechat Rooms

The MiM

Up-up-up, the China syndrome is in full gear and up we go into the close.  MiM did not have a big buy, so there isn’t new money coming in right now driving us to these levels.  Looking at the Buy and Sell likes, you can see the 3:50 pm reveal had almost 2B on both the buy and sell-side.  There is a whole lot of rotation going on. Looking at our A/D lines, the SP500 was 3.3:1 at the close while those lazy small caps were up just 2:1.  At some point, we should see the easy S&P 500 trader lag. Not today. 

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HFT Alert

 A fairly busy day on the HFT Alerts.  I accidentally shut it off during the day so we missed some programs. Overall there were 24 detected programs, 18 buys and 6 sells.  A busy buy day. It was a classic trend up day, buy on the open/sell on the close. 

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Marlin Cobb (1006 Posts)

Marlin Cobb, aka RedLionTrader has been trading for over ten years. Previously, Marlin worked in high-technology with a specialty in very high resolution display controllers. Marlin’s recent work has been in market timing signals. As a developer of the MrTopStep imbalance Meter (MiM), he is also a leader in the MrTopStep IM-Pro Trading Room, where he shares trading ideas and breaking market news live from the floor with our other professional traders and new traders eager to experience the power of collective intelligence. Join us today and get the edge only social trading can give you.

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