short 50.50 looking for 2
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ES Journal - 2012
- Thread starter Buy1Sell2
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Quote from JoshDance:
2nd target taken at 50.75
stop on final unit to 49.00
edit: make that 46 (BE) ... will just see if this is strong enough to make it to 58 later in the day
stop to 50 on final unit, almost certain to stop out unless it really spikes here, but don't want to risk missing +4 to gain another +6 which is already a bit optimistic
Quote from JoshDance:
stop to 50 on final unit, almost certain to stop out unless it really spikes here, but don't want to risk missing +4 to gain another +6 which is already a bit optimistic
out at 50 for +3.76 per unit
I really would like to stay in, but with Greece news pushing this up and a failure to push higher than the consolidation centered at 51, I think the market may have to auction lower to find buyers again, OR more credit swap news must be released. In other words, after such a big drop yesterday there may need to be exceptional news to drive this to my target of 58. A revisit of 46/47 seems likely unless we get more miracles from Greece.
Of course, it's possible the market will just be technical and stop here and keep going up. Hard to put a "safe" stop without giving up more than 50% here though. 49.50 is yesterday's high, and below that we just have VWAP at 48, and the origin of the breakout takes us all the way back to the 47 area. Not much worse feeling for me than to be +6 in the money, and then get stopped at BE.
Quote from JoshDance:
out at 50 for +3.76 per unit
Again I'm left shaking my head -- in so many other cases where I'm much more liberal with stop placement, giving it lots of room, the market seems to take that room and push the bounds of where it wants to retrace. Here, however, a simple tick under 1350 would have had me at least still long here. I have done a lot of low tick selling and high tick buying recently, so I'll give it a "triple damn" ala Trvl ... Even if it doesn't go up here, it still gives me that sick feeling of being one of the fools who sold the low tick, albeit sold for a pretty good profit.
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