ES Journal - 2012

[Laissez Faire]

Gap fill pending, IMO. Possible support at 15.

 

[Lawrence Chan]

Quote from gmst:

Thanks for filling me in! But I am sorry I didn't quite comprehend it.

So, you are saying no tax hike this year => people will sell more in december to pay lower taxes => so classic weakness could be more than average year.

Or, did I follow you completely wrong?

capital gain tax increase or even one time asset tax is on the table.

not the regular income tax.

 

[gmst]

Quote from Lawrence Chan:

capital gain tax increase or even one time asset tax is on the table.

not the regular income tax.

yes i also meant capgain tax. So, you saying since capgain is going to increase from next year (most likely) people would rather book profits this year?

But in the classic theory - people book their losses in December to gain from taxes.

So, if capgain tax is going to increase from next year, it means folks would book losses next year, which means they won't sell this year. which means classic selling effect will be less pronounced this year?

as you can see, i am not clear on what you indicated

 

[iloveoptions]

Longed 1313.5 adding 1309 stop 1308

 

[Laissez Faire]

Stopped out for 1 tick profit at 16,50. High retrace 16,75.



News in 5 minutes.

 

[gmst]

Quote from gmst:

Not sure on being a good trader but I will take the complement.

Btw, based upon market action, I changed my position from long to short at 1418.5

Added to short at 1414.75 post the aweful UoM confidence numbers

 

[mastacoli71]

Quote from Laissez Faire:

Gap fill pending, IMO. Possible support at 15.

filled to a T

 

[Laissez Faire]

Quote from mastacoli71:

filled to a T

2 ticks short actually, but maybe this is it.

 

[Lawrence Chan]

Quote from gmst:

yes i also meant capgain tax. So, you saying since capgain is going to increase from next year (most likely) people would rather book profits this year?

But in the classic theory - people book their losses in December to gain from taxes.

So, if capgain tax is going to increase from next year, it means folks would book losses next year, which means they won't sell this year. which means classic selling effect will be less pronounced this year?

as you can see, i am not clear on what you indicated

pure profit on every share the 0.01% sell, no losses.

retail investors do not matter.

 

[Laissez Faire]

Double top there at the prior retrace and failed to hold above the 50% level.

Shorted 1515,75 (poor execution) with a 2 point stop.

EDIT: Stop @17,25. Could be a bull flag developing here.