ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
VIX pit seeing calls
uts 2:1.
uts 2:1.Quote from Laissez Faire:
Enough talk.
Any charts?
No charts needed, it is a serious uptrend, with no serious pullbacks, everytime it wants you to think it is a Lower High, it is actually a trap with tons of shorts looking for an exit and then goes and makes higher highs. No technical damage in any of the timeframes and serious strength suggests noise and games then higher highs, not too distant.
The problem is the perception of "Buying High" prevents non seasoned trader to take the easy bet. Once it makes new higher highs you can reduce your risk, peel, exit, whatever method you prefer, but not at lower highs attempts, in this market they are toast and the right call is not to fall for the trap and join the breakout.
Yes I know, lot of talk, but the squeeze psychology is the very heart of this uptrend.
Theres so many statements on this board that are incorrect. One is there are so many shorts the mkt must go higher. This is a contrarian board and traders by nature are pessimistic and always want to bet against something wether being long if stks dropped big or short if stks skied. Its the nature of watching the screen daily and forming opinions. I have many friends who don't trade and i've never heard one say hey facebook ran too much should i short it. No they all want to buy facebook or tsla as they will run forever. Look at the put to call ratio, Last week it was hitting ratios under .6 many times which you rarely see and has not reached high levels During the last few months even as the mkt had a 4 and 5% pullins the pu to call ration never skied.. After a near 5 yr bull shorts have been burned 1000 times and refuse to hold shorts very long or even to short anymore as its been a horror for so long.Look at margin buying.It's at record levels as speculators who just know they can't lose chase stks. We have incredible complacency in the system, I Know you've heard this before and it hasn't meant squat. But we now approach some very meaningfull events that have the potential to change sentiment fast such as the fed meeting and the debt ceiling. 7 days ago apple was on its way to $550 and now it could fall to $400. Things can change fast so keep your eyes peeled.For disclosure purpose i'm short 30 es of the december contract at 1687.
My problem is you bad mouth people who average in over 20 or even a 7 point move that post all entries , stops and exits real time when your own trades run 30-60 points in the red and you don't post exits on your losers in real time. So either post everything or post nothing because when you cherry pick your exits it makes you look like a trader whose ego can't take a hit.
I'm not cherry picking any exits. I called a double down short last night as my first short was 1680 and the second 1708.25. I never said i covered the first short. Yes i made a mistake on a few shorts not calling the exit as i got busy and they weren't day shorts. I can say a thing or 2 about you constantly moving stops you list as you're about to be stopped out.I'll be sure to account for the exit of any position i take from now on.Again i've disclosed my avg price on the dec contract on my 30 contracts.When i close i'll give a holler
You shorted dec at 1680 ?
What is your stop?
What is your target ?
Are you all in or will you add if we run to 1722?
Based on how much attention you're giving him, it's obvious that you actuallly give quit a bit of shit.
Put him on ignore and move on with your life.