It's not like everyone doesn't already know there's a bunch of stops above todays RTH high. Some more above 1344.00....the 24-hr high. LOL.
OldTrader
EDIT: Excuse me....1344.00 is the RTH high. So they gotta gun through his stop to get to the spot where there are even more stops.
By the way, ES was dragged kicking and screaming by the NQ. The A/D line did not turn positive...yet. And we've got both banks and oils pressuring the ES. Couple that with what was probably too large of a position for a contra-trend move led to my selling half.
OldTrader
OK, I sold half of my longs at 1342.00. Call me nervous. Stop on the other half remains at 1331.75. About a 5 point profit on that half...equal to the 5 point risk on the remaining half.
OldTrader
Yeah, while I was typing it completely fell out of bed. C made an announcement. Not looking to good at the moment. I'm not willing to risk much. I'll let the market decide.
OldTrader
Taking a shot at the long side. Long Sept ES 1337.00. Stop 1324.75.
Seems like very light participation on the downside. Lets see what develops.
OldTrader
For what it's worth, I rarely will ever trade a breakout. If I'm not already in a position in the direction of that breakout, I just wait for a better opportunity. Of course, I'm not trading for tics either.
OldTrader
I covered my Sept ES short at 1356.50. Just not getting the participation on the downside right now. Hope I don't have to chase it lower! LOL.
OldTrader