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You may just have been lucky. :) AH should be interesting.

You mean ES or spooz?

Closed out short at 1433.75 for +10 as momentum takes a pause here. May try to re-enter short higher for hold in AH. EDIT: Short again from 1433.25. 6-tick stop.

I don't think this is a bottom, I think it's a bear flag and we're bound for still lower. I'm short from 1444.00, target somewhere below 1430. WIll probably hold into AH if we don't get there in the next 20 minutes. EDIT: I rest my case. :)

Well, that was interesting, wasn't it? S 1448.50 BS 1449.25 (3 ticks) PT 1434.50 (14 points) Probably premature, definitely not confirmed, but I figure for 3 ticks of risk, what the heck? :) At 11:58 I got a very overbought RSI (78.7) and a nice spurt of up-volume strongly suggestive...

My short add-on at 1440.50 was ill-timed. Closed it out at breakeven when I saw retracement developing. Initial position still short from 1444.75 with breakeven stop. EDIT: Damn! My initial short just stopped out at breakeven. If this is a bear flag (from 11:10 ET), it's a doozy! Now...

Adding on to short here at 1440.50, 6-tick stop. Apex, what are you PTs for this trade, please?

Could be. It did occur to me that a 6-tick stop is a bit close for a position entered on a stop order. Still flat and watching. We've been in a low-volume consolidation pattern since 10:25, and for the life of me I can't decide whether it's a bear flag continuation or basing for a move up...

ES re-entered the zone and I stopped out at 1447.75 for -1.5. That wasn't supposed to happen. Presently flat and scratching my head. :confused:

240-tick chart. Just entered a sell stop order at 1447.75. If we paint that, I want to be short! Price action presently in the zone trying to decide which way to go. EDIT: I'm not prepared to go long unless ES gets back above 1454.00 (yesterday's RTH LOD). Presently trading within the...

Getting concerned here so lowered buy stop to 1458.25 (+2.75). PT is still 1452, but RSI and MACD histogram convergence suggest upmove ahead. EDIT: Just stopped out at 1458.25 for +2.75. Will consider re-entering short if resistance holds at 1460 (descending upper trendline on 240-tick...

Overnight short hit trailing stop for a profit. Now short from 1561.00 with 3-tick stop. PT1 1452, then we shall see if the market reverses in the 48-51 area or if it keeps going lower. I'm not making any predictions, just trading what I see. :) EDIT: Attempted to add to short at 1460.00...

Me too. I went short at the right shoulder at 1465.25 and am holding my short into AH, where we just went below the RTH LOD. :)

ES H&S top

Short ES 1465.25

Anybody else think ES just formed the right shoulder of a H&S top?

Thanks!

Fascinating stuff! Can you recommend a good book for someone who wants to learn more about this sort of sophisticated options trading?

Behind every silver lining is a dark cloud... CNBC's headline: "Fed Rate Cut Appears Less Likely As Credit Markets Stabilize" News is noise.