ES Journal - 2012

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Quote from tortoise:

could you elaborate a bit?
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I can't explain it other than just what I am seeing on the DOM. I watch the ladder a lot, not just because I'm hypnotized :), but also to watch the aggressiveness of the orders. I bought 25 evens this morning, and felt the market fighting the upward direction. Lately I have a very high degree of confidence in my trades, and the one I took this morning gave me a lump in my throat. I wanted out of it. I wish I could elaborate further.
 
Quote from bigsnack:

I can't explain it other than just what I am seeing on the DOM. I watch the ladder a lot, not just because I'm hypnotized :), but also to watch the aggressiveness of the orders. I bought 25 evens this morning, and felt the market fighting the upward direction. Lately I have a very high degree of confidence in my trades, and the one I took this morning gave me a lump in my throat. I wanted out of it. I wish I could elaborate further.
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No that's fine. Thanks...
 
Quote from gmst:

wave can you please indicate the logic behind your thinking. You never write down 'why' behind your calls. It will help us newbies pick up a thing or two if you can share some rationale. Thanks
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I will chime in here, wave has spoken over the years about the 800 pound gorilla. The old joke is where does an 800 pound gorilla sit? wherever it wants. The 800 pd gorilla is the fed and other central banks. Acting in unison no one can beat their hand. Underneath is sovereign wealth funds, China has one, most countries have something similar. Next are the large prop desks and hedge funds, large mutual funds and pension funds. In simple terms the large players "they" move the market. That's my .02, wave feel free to correct me if I am wrong. :)
 
Quote from chaykapwr:

1329 is SERIOUS resistance. The 18-25 was decent resistance and we got a couple of good reactions of it.

I would like to see us move up to 29 and then drop hard. If we breaks 40, the we will hit 56.


However, in the medium term i have turned bullish on the S&P and my target is 1500 minimum (1525 to be exact)
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great place to start taking profts on the day trade portion
 
Quote from kinggyppo:

I will chime in here, wave has spoken over the years about the 800 pound gorilla. The old joke is where does an 800 pound gorilla sit? wherever it wants. The 800 pd gorilla is the fed and other central banks. Acting in unison no one can beat their hand. Underneath is sovereign wealth funds, China has one, most countries have something similar. Next are the large prop desks and hedge funds, large mutual funds and pension funds. In simple terms the large players "they" move the market. That's my .02, wave feel free to correct me if I am wrong. :)
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excellent reply king, took the words right out of my mouth...
 
Quote from trickshot:

Imo this should be moving back up to 1.315 pretty soon, its a reaction rally, you can see it by switching to higher time frames.
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Target hit today, anything above is going to be serious res for euro/dollar. Mid term target of SPX 1340 is getting pretty close too, hmmm....
 
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