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Impressive buying at 1511.50. It may take awhile to get below that level. I'll do my best to be patient and wait for 1505 to close out the first portion of my short position.

Short ESZ at 1514.50 EDIT: This entry was a little early. What I thought was a reversal bar on the 15min chart was a pretty dramatic head fake. Nevertheless, I'm seeing short-term bearish divergence and continuing to hold this short (at least for the moment), although the entry was clearly...

Beautiful 61.8% fib retrace, to the tick. Headed back up above 1511, probably to close the gap. I'm flat, and will probably have to remain so as I need to bail in a few minutes. EDIT: Never mind. My mistake. Retrace was only about 53%, not 61.8%.

When I posted that, I didn't really think there was much chance we could bounce that high in the first hour, but the way things are going it's not out of the question.

I just love it when B1S2, Apex, Spooz and I all agree! (Now just watch us all be wrong.):)

If ES gets up to 1520 or more in the next hour, I'll probably re-enter short before closing down my computer for the day. If it doesn't, I'll remain flat and see what tomorrow brings.

Just closed out my shorts from Friday right at today's open for a very nice profit. I'll be out of pocket starting in about an hour, flying my airplane from Tulsa home to California. Looking for much lower, but expecting a bounce first, and hoping to be able to re-enter short tomorrow from a...

Big picture... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1666579 width=600> Click on link below for full-size graphic.

Have a great weekend! (Back just long enough to take a peek at the action I missed. Guess it didn't head up to 1530 after all. Well, Monday's another day...)

Well, unfortunately I just ran out of time and gotta go. Closed out my shorts for a miserably small profit...was hoping for a lot more. Unfortunately, 1507 is a 50% retracement of todays run-up from 1497, and I'm concerned that we very well may go up from here into the close. So I guess I'm done...

Still patiently waiting for my short from 1514+ to pay off. I think my patience is about to be rewarded.

Ya, I was just about to post the same thing, but you beat me to it. Lookit that lovely selling tail on the 15min chart.

Nah, just a small bet. I'm going to have to run off soon anyway, so won't be able to trade into the close. EDIT: If we don't fall off the cliff soon, I may have to just close it out for a push anyway. But with a nice RSI grail and a MACD histogram divergence, plus a lovely selling tail on the...

I'm now short from 1514 and change. (Placed the trade before I saw Apex's post...honest!:) )

Watching the price action carefully here. May be another low-risk short entry coming up. Still flat, just watching closely. EDIT: I'm seeing bearish divergence. I'm seeing the beginnings of some selling tails on the short term charts. Waiting for a confirmation of reversal before going...

Taking profits here on my shorts. Buying at 1498 is impressive. I suspect we will be going up before we go down to new lows. Not going long, but looking to re-enter short from higher prices.

Doesn't look like a head fake. 1503 is now resistance. Down from here. EDIT: We need higher volume to propel us to new lows. Watch for it to kick in. EDIT: There it is. Textbook.

Ya lost me, Spooz. What means LL? Lower low?

Bear flag breakout to the downside (unless this is a head fake).

I'm inclined to look at the price action since about 10am as a bear flag. Expecting it ultimately to break to the downside and to new LOD. I'd hoped we'd climb back up to the low 1530s to provide a good short entry, but that seems less and less likely as the trading day progresses.