ES Journal - 2012

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Quote from JoshDance:

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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Someone once asked Bernard Baruch how he made his fortune.

His answer: "I sold too soon."
 
This area is a possible strong resistance, look at a 30 minute ES or SPX and you can see 2/10 2/13 highs fall around this area. Also, this is at last week's low, 53. If it shoots north here, as I was hoping it would earlier, I would look for a test of 59/60 -- and, showing strength there, ultimately 68.00
 
Final post until I take a trade and then I'll shut up: friendly reminder about rollover. Tomorrow 9:30am EST ESM12 becomes the front month contract, though some data providers will probably start rolling over after close today.
 
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