ES Journal - 2017/2018

Buy1Sell2 · Nov 30, 2018

Should pull back slightly here from 2758 before a thrust upward into close.

Buy1Sell2 · Nov 30, 2018

Buy1Sell2 said:
Daily and hourly very positive. We'll easily hit 2760 soon meaning possibly today but more likely in the next few days.

And there we have it, ---Now we can regroup and attack 2816 next week.

Buy1Sell2 · Nov 30, 2018

Buy1Sell2 said:
Should pull back slightly here from 2758 before a thrust upward into close.

---and we have another Bingo---

mastacoli71 · Dec 1, 2018

mastacoli71 said:
Brick wall. If we break and close above I am out of my short

Out and waiting for either a pullback to get long. Will assess market for a short when we reach 2818

mastacoli71 · Dec 1, 2018

mastacoli71 said:
Out and waiting for either a pullback to get long. Will assess market for a short when we reach 2818

Contemplated holding one short over the weekend given price divergence to RSI on hourly and daily chart but opted out because of binary event this weekend...a coin flip. Back to business as usual next week.

mastacoli71 · Dec 1, 2018

mastacoli71 said:
Contemplated holding one short over the weekend given price divergence to RSI on hourly and daily chart but opted out because of binary event this weekend...a coin flip. Back to business as usual next week.

50 and 200 day about to cross and SPX closed right on the 200 day. If I’m seeing it so are the masses. Another reason why I got out.

volente_00 · Dec 2, 2018

mastacoli71 said:
One other point...imagine you are in an intraday long with decent leverage and another 911 happens...you would be completely pooched!

Define pooched

When 9/11 reopened you would have lost about $5,800 per contract on ES. I wasn't trading futures back then but maybe someone will chime in on what ES did that morning. From my vague memory I think CME was still allowing trades for a while after it happened.

mastacoli71 · Dec 2, 2018

volente_00 said:
Define pooched

When 9/11 reopened you would have lost about $5,800 per contract on ES. I wasn't trading futures back then but maybe someone will chime in on what ES did that morning. From my vague memory I think CME was still allowing trades for a while after it happened.

Pooched means in a world of hurt. I don’t have exact data for ES that goes that far back. Mkt fell roughly 7% that day after being closed for 4 days and about 11% for the week. Sure there are circuit breakers in place, PPT, etc... for me personally I cannot sleep at night knowing that this could happen at any time even with probs being low. However on the short side, I don’t recall market ever closing up 7% in one day or closing for 4 consecutive days.

To each his own. If I hold long overnight I am always long a put.

Buy1Sell2 · Dec 2, 2018

mastacoli71 said:
Pooched means in a world of hurt. I don’t have exact data for ES that goes that far back. Mkt fell roughly 7% that day after being closed for 4 days and about 11% for the week. Sure there are circuit breakers in place, PPT, etc... for me personally I cannot sleep at night knowing that this could happen at any time even with probs being low. However on the short side, I don’t recall market ever closing up 7% in one day or closing for 4 consecutive days.

To each his own. If I hold long overnight I am always long a put.

Better bet would be to just buy a call and forget the underlying.

Buy1Sell2 · Dec 2, 2018

mastacoli71 said:
Pooched means in a world of hurt. I don’t have exact data for ES that goes that far back. Mkt fell roughly 7% that day after being closed for 4 days and about 11% for the week. Sure there are circuit breakers in place, PPT, etc... for me personally I cannot sleep at night knowing that this could happen at any time even with probs being low. However on the short side, I don’t recall market ever closing up 7% in one day or closing for 4 consecutive days.

To each his own. If I hold long overnight I am always long a put.

long overnight with 2 time leverage and less than 20 percent of TLNW in trading acct doesn't sound real dangereaux.