ES Journal - 2012

[JoshDance]

spx ticked above 1349, think it will break 1350 strongly at this late hour? I'm guessing not but I won't sell here

 

[ammo]

it would be unusual for them to let it sit all day and ramp on the close

 

[gmst]

Quote from gmst:

short 1343.25

stop 1346

end of day exit, out at 1344.75. Thought about putting in a breakeven stop after it moved 2 points in my favor, but decided not to.

 

[ammo]

does anyone know what these block prints are,could be an institutional cross,curious if anyone knows,there was another for 2 mil at 134.54 ,when it was trading .91

 

[ammo]

another 1 mil spy , 50 cents below last

 

[bigsnack]

Quote from fishing:

nice one

why did you buy the top this time may i ask? u didn't wait for the pullback as usual..

i've been fed up with all the 6pt days lately.. and today i missed the whole move

Two things:

1. The market did not have the "shape" of a full 50% retracement. If this morning's move up had only taken us to 39's or so, the 50% would have been a great place to try for a long. However, with the huge push in one direction, you usually don't get the full pullback. Not only that, but if you DO end up getting it, it will almost certainly fail.

2. Once the TICK started hinting at +600 closes again just after 12:10 PST, there was not going to be any selling, especially with price clearly back into the range that had been established between 41.75's and 43.75's.

All that gives me is a chance, after that we just have to see what we get. In the end I was hoping for more than what we got, but it least it was a relatively safe entry.

 

[bigsnack]

Quote from fishing:

i've been fed up with all the 6pt days lately.. and today i missed the whole move

I scalped that long after the shorts this morning, and missed way more of that move than I should have. That's the one downside to having set targets, you are occasionally going to miss a nice rip...

 

[CollegeTrader]

bigsnack what platform are you using for NYSE TICK?

 

[mastacoli71]

Quote from ammo:

does anyone know what these block prints are,could be an institutional cross,curious if anyone knows,there was another for 2 mil at 134.54 ,when it was trading .91

Prob late crossing prints

 

[bigsnack]

Quote from CollegeTrader:

bigsnack what platform are you using for NYSE TICK?

ThinkorSwim. Josh and I have been talking back and forth about the huge difference in the TICK readings between data providers. From what I gather, TOS and Tradestation are pretty similar, but the other data providers look vastly different. Josh's data feed does not show most of the "extreme" readings that I see on ThinkorSwim.