Market will move counter intuitive to what shorts think, fiscal cliff play well known by newbs now.
ES Journal - 2012
- Thread starter Buy1Sell2
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Looking for 250 point up day from now till thanksgiving.
So that will put us at 1635. I'll load up on the 1400 calls then going for 10 points to sell them for 235 points by thanksgiving. Not a bad return i must say.
JK- I know what you meant
I agree, the cliff was the catalyst to reach the near 10% pullback we needed. It is now priced in.
The resolution (real or fake) will come (all at once or in pieces) to lift things back to where they were or higher (quickly or a slow grind).
One last push to the downside would not suprise me, I just don't see any reason for things to continue to slide.
"The cart rolls fastest at the bottom of the hill" is my thought process for last week.
i saw it was daily but was looking at 6E. 6E is far from bull flag.
50% retrace is 1415-20 area..
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