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Thanks for the ES numbers. Never would have done that if I hadn't stumbled into this thread. Hopefully the YM will continue like this for a while. I really don't want to breakeven on that second half as it has a tendency to do.

Stayed short at 1261 from pre-market entry. Filled 1st half at 1259 at 8:50 2nd half at 1258 at 8:51 Currently short YM from 11005. exited 1st half at 10993.

Exited first half at 74.75 and second half at 73.75. Nice one. Certainly feels weird to be done for the day before 10:00 (central). Maybe my dad is right and I should go to law school and do this on the side. Hmmmmm.

I'll drink a full glass to that.

Thanks for the clarification. Sorry if you had to rehash some previously explained info.

Romik, As you suggested in 4re's thread, I decided to come over here and poke around. I've looked at all the stock traded that you've posted in here and I'm pretty sure that without exception you're long plays are on stocks that are below their 50 and/or 200 smas and the shorts are on...

OK. Will do.

A preface to my questions: I use tick charts as I feel they better represent the actual speed of the market and I don't particularly trade off of divergences. So feel free to explain as you would to a complete novice. Would you typically use a 60 min chart for this trade? Seems like you...

Please define BLD. Something 'line divergence?' That long sure has come in though.

It always looks simple when the trade works out ... [/B] Indeed it does. But I was referring to the simplicity of the setup itself. Using the support and resistance levels as entries to trade breakouts is much simpler, in my opinion, than using multiple indicators to try and trade swings...

Yep. Was tempted to exit at 1269.50 when I didn't get filled but stayed in and got the 2 points. I am really starting to like the simplicity of trading off the S/R levels. Fewer trades and easy to understand and use. Gracias por su ayuda.

You may want to check what you're actually signed up for. The CBOT, CME, NYSE, etc all have individual charges. If you're not trading the YM, no need to pay for CBOT data. If you go to the esig homepage, click on purchse, then existing customers. From there you can log in to a secure page...

4re, Based on today's action, are you changing your entry and exit prices or do you stick with the ones you posted last nite?

Just got back from a week in Colorado with zero computer contact. Man it sure is beautiful in the summer, too. Looking forward to reading through what I missed. Have a good day everyone.

Time will tell. As I'm flying without instruments today (read: charts), I'm at a disadvantage but would imagine the big boys have closed up shop and are heading out to the Hamptons for a long weekend.

One day does not a pattern make.

Nicely done. There's one reason not to sell back cheap options. Meant to ask you earlier, what is the timeframe on the ES chart for today? Looks like it might be hourly or even 2 hour candles.

Good work. Taking small losses is our job.

Axis, Benvenuto. Like most people on here, I too use eSignal for charting and highly recommend them--especially the advanced charts thru the premier package. My broker is PFG but I would not recommend them. In fact, I'm in the process of selecting a new broker which is a major pain in...

4re, Not that you asked, and I'm sure you're aware, but time decay hits options most during the last 30 days. You may want to get rid of thos puts if they're worth more than .25 a piece.