ES Journal - 2012

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Quote from DanS:

I anger traded today and lost my ass. I was doing good for 6 days in a row, and I just got stupid from yesterday through today.
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sorry to hear Dan. we all do it, some more then others. just learn from it and move on.
 
Lesson for the week:

Don`t go short when we`re in the process of filling an up side gap and don`t go long when we`re in the process of filling a down side gap.

The exception is of course when price has clearly demonstrated that it has met resistance or found support. Otherwise, gaps are magnets and usually closed out if other supporting parameters suggests so. :)
 
don't go short into the end of month,' 1st of the month and don't believe the 1st of month rally will carry,especially in may
 
Quote from ammo:

don't go short into the end of month,' 1st of the month and don't believe the 1st of month rally will carry,especially in may
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how about don't go long in falling tapes and don't go short in rising tapes?

how about buying uptrends and selling downtrends in strategic, unbiased, objective-neutral fashion?

that simple approach makes money in any market :)
 
Any takers on the direction from here? Is the higher time frame charts appearing a little bearish?

If the 55-60 zone does not hold one more time, then watch out below?
 
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