ES Journal - 2012

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As day traders we need to continually take the pulse of the market. Pending no changes, I remain bullish above 23.

There is still a small chance that this is a bear flag at the lows. If so, I got my eyes on 1308 today. :)
 
Quote from Laissez Faire:

The market is ready to pick a direction in case you did not notice.

Most likely up from here. Upside target is 38 for the day. :)
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When I read your first sentence, I thought "maybe he is a real trader making money."

Then your second sentence destroyed that thought.

Please don't be long today.
 
Quote from mastacoli71:

tent rarely posts here and then comes in and decides he knows it all. just keeping him in check.
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I had you on my ignore list, but someone quoted you saying it was your last post, so I thought I'd try to apologize for being mean.


No I don't know everything.



However today is another trend day. If it is not, then we will just be flat and you will all probably lose money anyways expecting direction.



The es delta volume is negative, and price action says trend day. For those of you who are not using level 2 data at all, you will not have a good chance at making allot of money (millions) as a trader. cheers
 
Quote from tenthousandmen:

And price action says trend day. For those of you who are not using level 2 data at all, you will not have a good chance at making allot of money (millions) as a trader. cheers
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This is anything, but a trend day at the moment and even if momentum should pick up either way, it is not a pure trend day.

Now, can I quote you on being short?

First clue that we would not continue to the down side was when we did not fill the gap on the first, second or third push down, effectively printing an inverse head and shoulder.

Now, I`m disappointed by the lack of follow through here, but we are printing higher lows and still above the 50% retracement level.

Breaking 23 and I`m probably short, but that has to happen first. :)
 
Quote from Laissez Faire:

As day traders we need to continually take the pulse of the market. Pending no changes, I remain bullish above 23.

There is still a small chance that this is a bear flag at the lows. If so, I got my eyes on 1308 today. :)
More...

It's kinda wedging, so if it suddenly breaks down to supports I'm bullish and buyer in short-term, but longer term measured in weeks I'm bearish due to only Op Twist, no QE3.
 
Quote from flipside21:

It's kinda wedging, so if it suddenly breaks down to supports I'm bullish and buyer in short-term, but longer term measured in weeks I'm bearish due to only Op Twist, no QE3.
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Tough market today. TICK looking kind of neutral and another break without follow through (yet at least).

Either way, I`m done for the week and I forgot that I had stopped posting here. :p
 
Quote from tenthousandmen:

I had you on my ignore list, but someone quoted you saying it was your last post, so I thought I'd try to apologize for being mean.


No I don't know everything.



However today is another trend day. If it is not, then we will just be flat and you will all probably lose money anyways expecting direction.



The es delta volume is negative, and price action says trend day. For those of you who are not using level 2 data at all, you will not have a good chance at making allot of money (millions) as a trader. cheers
More...

I'm out of my short positions because of the very light volume. I will be bearish on Monday after 9:30, unless if something develops later in the day today. I'm out. Have a good weekend.
 
Quote from ammo:

this is a non trend day, the open int in the june spy weekly puts say its ;likely to go out between 132 n 133
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Yes, sideways day. Most likely any downtrend continuation will have to wait until next week.
 
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