ES Journal - 2012

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Quote from mastacoli71:

gap and fill would be potential double top. gap and go would get us moving toward 1440.
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Agree with your view.

On purely an economic basis, news is pretty substantial and in no way priced in. So, I am going long.

Long 1418.5.

Will look to add post market open
 
Quote from Lawrence Chan:

Seasonal weaknesses kicks in today / Monday until mid Dec.
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I am long and I have huge respect for you. which makes me doubt my position.

what kind of seasonal weakness you refer to ?
 
Orderflows will be on the buyside .. MM's will kill the market to hit those stops.. Economy is improving..

So conundrum is hit the stops of the longs but bring market back up after a engineered cascade.
 
Quote from gmst:

Agree with your view.

On purely an economic basis, news is pretty substantial and in no way priced in. So, I am going long.

Long 1418.5.

Will look to add post market open
More...

News today is definitely not bearish but I am not smart enough to figure it out. Price will tell me where the market is going and i will trade accordingly to my plan. In any case, you are a good trader and I hope it works out for you.
 
Quote from gmst:

I am long and I have huge respect for you. which makes me doubt my position.

what kind of seasonal weakness you refer to ?
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Classic Dec weaknesses into mid month before the so-called year end rally.

It is called the "only free lunch" in Wall Street by Trader's Almanac.

It can be very strong this year due to potential tax increase that will not kick in for sure until next fiscal year (as republican will make sure of that).

i.e. The 0.01% selling their holdings to avoid taxes, but their holdings is more than 1/2 the total flow. =)
 
Quote from Lawrence Chan:

Classic Dec weaknesses into mid month before the so-called year end rally.

It is called the "only free lunch" in Wall Street by Trader's Almanac.

It can be very strong this year due to potential tax increase that will not kick in for sure until next fiscal year (as republican will make sure of that).

i.e. The 0.01% selling their holdings to avoid taxes, but their holdings is more than 1/2 the total flow. =)
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Thanks for filling me in! But I am sorry I didn't quite comprehend it.

So, you are saying no tax hike this year => people will sell more in december to pay lower taxes => so classic weakness could be more than average year.

Or, did I follow you completely wrong?
 
Quote from mastacoli71:

News today is definitely not bearish but I am not smart enough to figure it out. Price will tell me where the market is going and i will trade accordingly to my plan. In any case, you are a good trader and I hope it works out for you.
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Not sure on being a good trader but I will take the complement.

Btw, based upon market action, I changed my position from long to short at 1418.5
 
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