ES Journal - 2012

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Quote from ammo:

ben is still on a mission..heard from a banker last nite that if a bank makes a loan with fannie mae backing and it defaults, the bank gets a 300% penalty ,so a 300k loan default, the bank pays fannie 900k
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last 3 minutes of soros vid above might explain why bankers wont lend
 
Quote from Laissez Faire:

Disappointing close for the shorts then? :)

Any ideas on what from here?

Double tick to the top on ES, but not quite the same on SPX.

I sure hope we don`t gap down on Sunday.
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I sure wouldn't doubt if we get a nice gap down on the open Sunday though. I think P,A really showed weakness late Friday. This can't go up forever without a decent retrace.
 
No short entry for me yet.

Maybe the top of this channel could provide a nice low risk short entry if I`m present when that happens, around 66-67, which is also Friday`s high. Failure to take out the channel high and breaking below 61, could also be another scenario, yes?

Maybe we will keep creeping higher for a while before heading south. Fine with me. More points to catch then.

No matter what, it should be another fun week. I just hope I`m around when the fun happens, since I`m still kind of tied up with other stuff. :)
 

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Quote from ammo:

every one has one best setup,mine is the nip.cleavage or ledge,trade into it as it approaches one or away from it after it touches,if its not at one sit on hands,the sit on hands is i think ,the most important rule,it's easy to make money,hard to hang onto or not give back,so sit on hands and wait for the setup..p.s. it's a lot easier to give advice than to heed it
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So true. Thanks for advice ammo. Going to sit on hands this week and focus on my core equity strats until I can figure out what ES setup my mind is wired for. I will never give up on ES cause I know money can be made trading it.
 
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