ES Journal - 2012

[Laissez Faire]

Quote from ammo:

shorting only, means i spend twice the analysis looking for short setups and trade half the time,this whole runup since 08 ,fed ponzi following the mortgage ponzi has me cautious for a fallout and not worried about a big up move against the acct,worst case scenario,i would cleanup,have had several gifts since 08 on downside scares being short

Mixing politics and trading is usually not a good idea, in my humble opinion.

Was there not a thread here about a guy who lost all his account being influenced by Zero Hedge? I was a strong fader myself after QE2 started and was very influenced by my macro views. It cost me dearly.

If the world goes under, there will be plenty of time to trade the short side. I always try to trade with the line of least resistance, as Jesse Livermore would say.

The points are the same whether the market goes up or down.

 

[mastacoli71]

Quote from Laissez Faire:

Got it.

The subjective nature of trend lines and their lack of precision makes me skeptical towards drawing any definitive conclusion, although I do use them and find them to be a good measure of sentiment.

Horizontal S/R is more objective, IMO.



Will probably see some volatility then. No trades for me until the bells ring.

Number at 10:00 also.

cool, thx for the insight on trend lines versus horizontal S/R.

i am willing to take a trade after the # although i am always short one as a portfolio equity hedge

 

[mastacoli71]

200 day SMA, good for a bounce?

1282 ES
1284 SPX
128.60 SPY

 

[Laissez Faire]

Very possible, but it all depends on where we open.

I forgot to mention that there is also a gap at 1292,50. Needs to clear 90 first and then I suppose 80 is in the cards.

 

[trickshot]

Quote from trickshot:

L93. Bid 92, 91.

filled 92, avg 92.5.

flat 94 ahead of NFPR, don't feel good about this trade.

 

[mastacoli71]

light long 1282

 

[Laissez Faire]

Having a position going into a news release like this one is always gambling.

Wise choice, trickshot.

 

[trickshot]

Quote from Laissez Faire:

Having a position going into a news release like this one is always gambling.

Wise choice, trickshot.

Yea I was thinking that there should be some short covering ahead of the #s but the lack of it made me nervous. I think the insiders probably already knew the numbers sucked.

 

[mastacoli71]

Quote from Laissez Faire:

Having a position going into a news release like this one is always gambling.

Wise choice, trickshot.

That's why I always like to bid / offer going into the number. I learned my lesson the hard way many times carrying a position into number accept for my portfolio hedge.

Hopefully ts covered before the number was released.

 

[trickshot]

Should get a huge gap at the open if nothing much changes, I don't think this has a chance to be filled anytime soon.