ES Journal - 2012

[schizo]

Short 1349.25

* stop 1355.50
* Provided we slide back down (and stick this time), the price target stands at or near 1305.

 

[JoshDance]

Quote from Hooti:

Thanks Ammo.
I'm often up in the middle of the night, as I take care of a family member. So I leave the 24 hr chart up. My teacher keeps telling me to check the RH only charts(simplifies seeing what is happening), but I forget.

So much yet to learn

If you had not checked the 24 hour chart today, you would not have seen the overnight low tested to the tick before it reversed! And my best guess is that since one extreme of the ON was tested, that the other will be as well (52s). Without overnight information, all of this is hidden. Just one way to look at it.

 

[chaykapwr]

looks like we will be hitting 53-54.

 

[chaykapwr]

though its not in my system a log would be acceptable here

Long here stop 48.5

target 53

 

[CollegeTrader]

Just what i am witnessing take it as you want. Apple hits a huge milestone of 500 yet the volume in the NQ isn't showing volume players eager to buy. Looking at the ES the volume is weak at best. Again volume players not willing to put capital to work here. News out of the EU is showing a greek default wont happen this week so headline risk low out of Europe. The key im looking at is what volume does on a down day. if we have a down day on large volume i think the institutions might have tipped there hand. *EDIT* anyone else noticing the TICK negative for the majority of the day yet market is ticking higher?

 

[Hooti]

Thanks JD

 

[JoshDance]

Quote from CollegeTrader:

anyone else noticing the TICK negative for the majority of the day yet market is ticking higher?

Depends on how you define "majority" but when I profile it I get an average of 140, and when I do a typical average (HLC/3) using 1 minute bars, I get about 90. So, I'd say it's easily above 0 the majority of the day. Also, delta steadily rising since the low, and positive for RTH session, and Globex as well.

 

[chaykapwr]

Quote from chaykapwr:

though its not in my system a log would be acceptable here

Long here stop 48.5

target 53

scratch, no longer valid

 

[JoshDance]

Quote from JoshDance:

closed 2nd unit 49.00
stop to 48.00 on remaining 1/3, final target 51.50

closed final unit 49.50
total +2.75, +3.50, and +4.00

would prefer to leave it but want to be done with the trade so I can move on

 

[HedgeItYourself]

Quote from schizo:

Short 1349.25

* stop 1355.50
* Provided we slide back down (and stick this time), the price target stands at or near 1305.

This is a brave call, particularly in light of the fact that we tend not to reverse in the afternoons these days. Not to mention the Fed's position on the matter.