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Gap and go would be the best summary. Currently trading 1398.00. High 1398.75. One small reaction about 11AM EST of about 4 points to 1390.25. OldTrader

I agree with you. A/D line 3:1 in favor of advances is going to be kinda tough to buck. I'm already sorry I sold. LOL. OldTrader

OK, I sold the other half at 1395.25. OldTrader

Very true. However, the reason I don't use 1390.50 is that I can't see a technical reason to do it. It seems too aggressive to me. I can see a little natural settling here, especially since we bumped against that trendline, and because the run-up to it was so fast. But there may also be...

LOL. Yeah, I figured you missed the part where I scaled out. I think you make a good point about it. However, it's what I've become used to more than anything else. In this case, we're up against a declining trendline from 1440. Trying to poke through as we speak. Sometimes they break on...

OK, I'm going to take profit on half the position at 1392.75. Moving stop on the balance to 1383.50. OldTrader

We're up against the trend line from the latest top. So that may be a problem here. But I'm going to leave things as they are for now and see what develops. OldTrader

I probably should move the stop, no question there. Right now I'm debating where exactly. I'll move it a little later...or panic out if I need to. LOL. Actually, I think I will move it to 1382.00. OldTrader

Long ES at 1385.00. Stop at 1378.00

What do you do, stay up all night long??? LOL. Good entry by the way. OldTrader

I would have put that line around 1370. We do have the 50 day average around 1382. OldTrader

Hmmm....thanks, but I thought 1390 would be better support. OldTrader

Covering the other half at 1389.75 for 8.50 profit. OldTrader

Covering half of that small position at 1391.00 for just over a 7 point profit. OldTrader

Short at 1398.25 from last week. Re-entering stop at 1413.25 for now. This is a fairly small position. Looking for a sign that this really wants to do something. LOL. OldTrader

Continue to hold a small short position in ES from 1398.25. Stop removed until Monday AM at 9:30 AM EST. Have a good weekend. OldTrader

Exactly. I didn't invent this idea at all. It's not just the idea that the pit is trading. It also has to do with the idea that stocks are trading, and after all, the ES has an anchor in the underlying stocks. The large firms do alot of hedging against stocks, basket trading, etc etc. In...

I like position trading the ES. Actually, what I do is more like swing trading than position trading. I also trade gold, oil, and T-Notes periodically. Some stocks now and then. Most of the time the ES is a mean-reverter. I think that lends itself to a swing trade type of style. OldTrader

By the way, so there is no misunderstanding, I didn't trade on the CME. I traded on the KCBOT when the Value Line was a viable contract. I wasn't especially good at it. I admired a couple of guys at the time. One was a spreader between S&P and the Value Line. He stood at the edge of the...

Yes, I do some intraday trading. What I generally do is trade in the direction my position is, if I have one. So right now for instance I'm short, so I would add a day trade if I saw something that I felt confident with. It's kinda funny, even to me, but occasionally I have day traded...