1880's. Have a great weekend everyone!
ES Journal - 2014
- Thread starter murica
- Start date
1880's. Have a great weekend everyone!
ASking 1885 to reduce 80% of my position, leaving one left - GTC.
Some interesting info:
Febuary, April, and August each had pullbacks in the uptrend. Each one had a short squeeze with the following days close always closing higher than the short squeeze days high.
On Wednesday afternoon, we get our short squeeze and probably bottom. BUT, Thursday closes lower. What does this mean ? 1) This market is not going to go straight back up to 2000, 2) 1890-1905 level....the level most of us started to say "oh sh#t" needs to hold for downside action to occur, 3) All we need is a strong down day in the next couple of days to throw the formula out of whack of the ES closing with higher highs after every significant pullback like in febuary, april, august.
Febuary, April, and August each had pullbacks in the uptrend. Each one had a short squeeze with the following days close always closing higher than the short squeeze days high.
On Wednesday afternoon, we get our short squeeze and probably bottom. BUT, Thursday closes lower. What does this mean ? 1) This market is not going to go straight back up to 2000, 2) 1890-1905 level....the level most of us started to say "oh sh#t" needs to hold for downside action to occur, 3) All we need is a strong down day in the next couple of days to throw the formula out of whack of the ES closing with higher highs after every significant pullback like in febuary, april, august.
You took like 70 points of heat on your (presumably) full position and now you are getting out with a 5 point gain? How does trading like this work out in the long run? :eek:
But Pinkman took 140 point heat, hahaha.
Hold 'em!
but maybe pinkman is looking for +200!!
lolNone of the previous pull backs made an attempt to register a lower low, all of them went straight up in a grindy fashion after the pullback so I wouldn't be surprised if this goes straight back up above 1900 by next week.
Look at the way the VIX crashed today, its an ominous sign for the bears.
All joking aside, it was my worst showing this year, but volatility was on my side that I will see the light at the end of the week. Sometimes we all get sucker punched. I hope to do better next time.