ES Journal - 2013

Quote from spxoptions:

Long-term short position initiated at 1605.
50% target 1540 - 45; remaining half 1490 - 1500.
stop 1655.


nice stop, nice target. not sure why you feel the need to enter here and now (new quarter begins Monday), though...
 
Quote from tortoise:

nice stop, nice target. not sure why you feel the need to enter here and now (new quarter begins Monday), though...

Thanks. On my charts, we're at upper resistance on a down channel from the 5/22 high (the 6/18 bounce to 1650 poking above the channel). I do realize we could test the spx 50 day at 1619 and possibly a little higher, but not trying to pick the exact top.
 
Quote from spxoptions:

Thanks. On my charts, we're at upper resistance on a down channel from the 5/22 high (the 6/18 bounce to 1650 poking above the channel). I do realize we could test the spx 50 day at 1619 and possibly a little higher, but not trying to pick the exact top.


well, again, good, savvy trade. if i hadn't just surveyed the performance of my longs v my shorts over the past year and discovered that 90% of my losers were shorts, i'd probably join you...
 
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