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It sure ain't because of FB. Imagine all the poor schmucks that bought the hype at $43-45/share. Their wives are ripping them a new one today...GUAAAARANTEED!!

ES has played very nicely today. A break above the PP with a run to R1. A pullback to R1 then a further bounce. Next stop on the upside is R2 at 17.50. A move above 11.00 would confirm the upside potential. Not seeing much downside on the chart so far.

Good work!! :cool:

Covered Long @1304, +7. :cool:

Stop to B/E. Looking for break above Globex high of 02.75.

Good job, CB...way to make the $$$!! :cool:

The correct entry would have been 1295, as that was a 50% level. I did not pull the trigger there, as we were below the pivot point. Instead I waited for confirmation on a break above the PP. The long squeeze pullback to 93.75 just missed my stop by a tick...bastards! :p A break above 99...

Long ES @ 1297, target 1304, stop 1293.50.

This is an excellent post, and summarizes the approach that I have been trying to implement in my trading recently. Rather than swinging for the fences on every trade, I am trying to manage my risk effectively, and catch profits where I can. I have become willing to scratch a trade that...

Thankfully I have never been on a sinking ship (except canoes and sailboats at summer camp), but this market action is how I imagine it would go down as the ship sinks. The captain and crew (Big Money) who know what is about to take place calmly gather their belongings and plan their exit...

Thanks, enjoy it yourself!!

Seems like I make the most on the days I do the least, wierd? :cool: I shut down my platform so I'm not tempted to give it back now.

Stopped out 93.50, B/E.

Half off @ 97.50, +4. Stop @ B/E.

Stop to B/E.

Stop to 91.25, not willing to risk much on a day like today.

Came in from the pool and it looked like a long was worth a shot. :p

Covered at 00.75, B/E. Gap play should have defended better, IMO. This is turning out to be a pretty whippy day, think I'll leave it to the pros. See you all next week. :cool:

Long ES @ 00.75, Stop 97.75.

Remember, the trend is your friend. :)