ES Journal - 2013

[Handle123]

Had to buy again cause of the Megaphone, thinking they going to pop the top to hit the stops.

 

[tortoise]

Quote from Handle123:

Had to buy again cause of the Megaphone, thinking they going to pop the top to hit the stops.

problem with megaphones is you never know when they're going to end...

 

[Handle123]

yep, quick 5 tick loss

 

[tortoise]

Quote from Handle123:

yep, quick 5 tick loss

i don't know that the megaphone has broken yet....i don;t know anything at this point

 

[Trvlwanderer]

Nice setup for an overnight long and position into Thursday.

 

[mastacoli71]

Options ex week. SPY open interest on the call side not much up to 170, put side protection starts at 166 and heavier at 165.

 

[cdcaveman]

i've got a couple july 26th 1690/1640/1590 put fly's on.. thats my way of being short here.. I hate the fact that i'm picking a reversal.. thats the worst part of it... you know at some time frame your always picking a reversal.. its just in this case i''m on the largest..

 

[mastacoli71]

megaphone as i understand it is a topping pattern but who the f knows. i am staying short and stopping out above 5/21 high.

 

[cdcaveman]

Quote from mastacoli71:

megaphone as i understand it is a topping pattern but who the f knows. i am staying short and stopping out above 5/21 high.

5/21 = 1680 ... i'm sure theres alot of stops right above there.. but i'm with you.. who knows......

 

[mastacoli71]

Quote from cdcaveman:

5/21 = 1680 ... i'm sure theres alot of stops right above there.. but i'm with you.. who knows......

Using cash mkt as stop but same area and will widen the stop to avoid the wash out.