ES Journal - 2012

[ammo]

price levels

 

[Macho]

Sold 1 @ 128650 another on 8900

Stop 142'14

See if we can get a roll ammo,volente

 

[bigsnack]

Quote from JoshDance:

B, this 87.50 area looks like you; I am tempted but will see how it looks at 86.50 .. if I miss, I miss. Or if I'm wrong, I'm wrong. But something tells me it will try to take out a few more longs if it's actually going to move up from here. Bid sitting here for quite some time at 86.50, but I may pull if I don't like the volume.

Hey Josh, sat on my hands and then went to lunch. No clear signs for me today at all!

 

[Builder17]

so todays pattern (after a gap up) is indicative of distribution? i wasnt expecting this PA today, so curious

 

[bigsnack]

As far as the 87.50 area, without the TICK closing above 600 for a long time, it was no man's land as far as a clear direction. Usually I get the head's up on a directional bias, and then within 3-5 minutes I get my entry. Usually if the market doesn't give me the option to enter, it's for a reason

 

[bigsnack]

Quote from Builder17:

so todays pattern (after a gap up) is indicative of distribution? i wasnt expecting this PA today, so curious

Well gaps usually do tend to fill. Also, this COULD just have been a pullback (see chart). If we break back into the balance area from today (i.e. above 85.50's), I would expect us to travel to the other end of it at least (89.75's) and most likely to 96's.

 

[Macho]

Quote from Macho:

Sold 1 @ 128650 another on 8900

Stop 142'14

See if we can get a roll ammo,volente

Covered 128250.

 

[EliteThink]

Quote from ammo:

makes u wonder if they will keep it up here for another day of accumulation or drop it and get the shorts short then bring it back to the line and reload on those short covers,or it's not the top, and it goes higher,or it was the top and it will drop to 1230 area

quite the technical case for the downside. If selling is not indicative of market intention not sure what is. I could see logic go out the window and a rally into the election though.

 

[JoshDance]

Good job shorts, since I was looking for a long at 86-87, I failed to take the short at 89; my bias caused me to pass up an otherwise pretty good signal, though at the time I was not sure it was even coming back to 87.. hindsight always 20/20 I suppose.

 

[ammo]

we only got as far as 95 cash,we have pulled back to equivalent of 87 cash, a ledge that we stalled at briefly last nite,,we could get up to 99-03,before reversing or sellers came in early ,we need to hold that 1283-78 nip