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Very nice rejection at the 78.6% retrace of yesterdays highs... very typical 'top' action if we break 842.75.

I agree that any sell-off will be fast. ~825 is my first target actually. Next target at ~785. There are targets further down that I'll be holding 1/3 for, but no point talking about them yet when we're only 10 points from my entry. I like the response off this initial touch of the 860-870...

I got long FAZ at the close at around 9.25

No, in all honesty, and one of the reasons why this ES Journal has been worthwhile, is that when I'm out of the market and I feel strongly enough to make a post its a usually a good signal. This is something I've observed a number of times over the past couple years. Don't interpret this as...

I make better calls when I'm out of the market :) I'm super excited for this trade. The confluence is beautiful and we've got some good wedge action along with MACD histo divergence on the daily timeframe. Shorting the 860-870 area. Trade void if ES breaks 880. If you can fine tune...

Its simple. Purpose of trades doesn't matter. Find an account that's very consistently profitable...doesn't matter the value. Shadow their trades. Make money.

I always wondered this myself. Are they really making their money off of the 50 cents commission each trade?..... hmmm

I was thinking the same thing when looking at the daily chart and was going to PM you for your take, but a quick search of your posts takes care of that :) keep above 800 -> break into ~860 -> down to 750 area IMO... at least those are the only tradable swing setups I'm looking at right now.

I'm still short via long FAZ... I had my stop sitting at 18.88 which was narrowly missed during RTH today. The ETF's don't trade overnight, so unless this spike reverses in the overnight and we open lower than we closed, it looks like I'll be stopped... correction, most likey raped by the gap...

What a nice 5-min bar! Nice entry saliva... I wish you (and me) the best of luck.

All eyes on 800-801

I like both... apparently I'm better with bigger targets though as 792 just got cut through like butter :p I don't want to be on the other side of an all-day up day... put my stop in on the added units just above the high of a few minutes ago. Original position stop at BE.

792 should be good for several point short

No idea... nothing but air there on my chart. My thinking is that 801-803 was the obvious short (50% retrace + H&S) and 810 was the obvious gapfill play. Squeeze the 803 shorts out of their positions but don't let the gap-fill traders a chance to exit their longs or take a short position...

Nice trading startraitor! What was the exit signal ;)

You guys are on your own for that one :p I'm scaling out- 1/3 @ 785 1/3 @ 767 1/3 @ 755 btw.... this selloff is a thing of beauty. Nothing like going from pissed you might need to take a loss to jamming out to music while watching the cascading selling. :D FAZ is pissing me off...

I'm not sure, you tell me... what difference DID a day make? I'm still in my position... and it is still in the green... and I added to it because the market gave me a favorable level on this retrace. lawlz I <3 Options :D ... just to add, I think today is demonstrating the point I...

haha, I have no idea... could be tomorrow or Thursday or Friday... I'm over in ETF world right now so I don't really care. whats your options position? bought/wrote puts/calls?

If the financials are leading this market, I think the fact that my FAZ is recovering faster then the S&P is falling is a sign the top is in for the day... time will tell. I took on a much bigger position than I was planning by scaling into that squeeze. This thing better start diving soon.

What a squeeze.... ~807.... shes ready to roll over