Search results

0902 EST Market Analysis for Wednesday 05 August 2009 I certainly didn't expect price to get as low as it has today, at 115 130. Nice short near the incredibly important level that I posted days ago, 116 050. (Ahem, ahem.) Don't worry, I wasn't up that late, i.e. 1530 EST to take the...

0849 EST I wasn't able to do a pre-market post today. In any event, here is something even better. When you figure out how and why to do what I just did in this trade, I would say that you are able to trade price action and support and resistance and there is no need to second guess...

1101 EST I've bagged my daily limit both time wise and money wise, and like any professional athlete (I wish!), I know it is wise to take a break. I don't know that we will get back up there, but a short at 116 070 to 116 080 looks very tempting. All posted caveats apply.

1050 EST 115 240 would be the target after that.

1048 EST Turns out that trade would have worked even better than I expected. If you are short, I am counting on a target of 115 270, maybe even lower.

1042 EST I think it is safe to say that 116 050 level posted yesterday has made us a nice bit of coin.

1038 EST Out of the 116 040 short at 116 035. I'm not getting a warm and fuzzy feeling at the moment about us going lower. Could still happen, but as I mentioned, the short trades of the day towards yesterday's low (not quite that low, but considering I warned you about it pre-market, close...

1035 EST In a current short at 116 040 which is fluctuating more than I would like to see. I may bail for small loss. I'd like to see at least 116 020 on this, but it also could run up to 116 080 or 116 120.

If you are talking a short at roughly 1021 EST, then yes. I got 116 025 though and I was out at 115 310 on some and 115 315 on others.

1026 EST Very nice day so far. Notice that POC from yesterday is 116 050 and today is 116 075 so far. I think both can be played and on both sides, i.e. long and short. My take so far is that we will revisit the lows at 115 300, although the safest trades short in that direction have...

0658 EST Pre-Market for Tuesday 04 August 2009 I have no bias today. If price decisively breaks 116 015 then I believe we will test yesterday's low. I would like to sell the following level on a first approach only: 116 26 All previously stated caveats apply. Also, I know I...

To anyone following along, the trade of the day was the first ellipse + down arrow on the chart below. The other ellipse + arrows are additional common sense trades.

accutrader, I need to maintain a few tricks in my bag of secrets. A hint would be looking at the overnight activity, looking at the ES, and finally something on the chart. A caveat about this trade is that the tight range they kept just prior to the report was scaring me. Usually for...

1118 EST Speaking of a bird in hand, I think I'll call it a day. I'm feeling like I expended a great deal of mental effort on a math test. Great day profit wise, but somehow I don't feel good about it. Almost as if it wasn't all it could have been. It really is an odd feeling.

1110 EST I've been following a thread on ET with great interest. It is the one with a title along the lines of 500 / day. In it various ideas have been expressed about setting daily profit targets and not setting daily profit targets. My thoughts on the matter are that one should...

1106 EST I'm not particularly proud of my trading today. The first trade was a violation of rule #1, never be in a position prior to a potentially market moving report. I was in it for a simple reason. I saw a pattern that almost always results in a rather significant move in my...

1051 EST My first target is 115 270.

1041 hrs EST I'm looking for something to happen right around 1100 hrs. Hard to say if it will be further down moves or a change in trend. I'll be watching the ES carefully now for the next 20 - 30 minutes.

1024 EST Order in to short at 116 135. Best outcome would be a quick spike up there.

1016 EST Breaking 116 120 is fairly significant. My best guess for the remainder of the day is lower prices. I'm hoping for a short opportunity between 116 120 and 116 160. If we start to play around with 116 190 then obviously we may have a "V" day.