ES Journal - 2017/2018

[Pekelo]

Now at 2740. Call good right now.

As Steve said, your floor calling expertise is kind of lacking... There was also a giant upgap to be closed... We kind of did.

 

[mastacoli71]

Bingo! That`s precisely what i`m looking at ... Monthlys dominate the tone for the front month... Gravestone/ Shooting Star... Monthly takes precedence on future PA.

Tomorrows close is a big deal on Months end.

Both DJX and SPX closed as pin bars on monthly. Should be interesting rest of the summer.

 

[manonfire]

Unless you think the market is going to sell off hard on the Friday afternoon before a holiday week.. during the summer... there will be no gravestone candle for the month. We should all be on our way to somewhere nice right now.

There is your monthly on cash.

 

[treeman]

@treeman, this is first year of my life I am using margin in my stock account, not sold anything that is showing a solid dividends since 2009, I had sell signals before the move down which tells me to hedge stocks and long term futures I am still short but have bought calls off the bottom to hedge open profits in the futures. I see no reason in economics for market not to make new highs.

I appreciate the lookin out. I doubly appreciate your nugget on hedging. I've been racking my brain on what you're doing to have them come along free..

 

[Handle123]

I appreciate the lookin out. I doubly appreciate your nugget on hedging. I've been racking my brain on what you're doing to have them come along free..

It is a bit more complicated as to the timing and how I am hedging it all, plus prems, thankfully entire system automated, there times the prem too high in ES, so then it searches the Q's, SPX's or whatever EFT index where the prems aren't as steep, sometimes instead of just going short indexes for their own signals for very long term commodities, it will sell even more to hedge stocks and not use options at all. Other times, can be close to Delta neutral on the stocks as I be short close to equal amount of stocks am long, so much less in options are bought. I am constantly doing "what ifs" when not back testing or manually trading newest systems, I know I can figure out better ways of hedging-I enjoy challenges of me against me. Of the few hedge managers I have chatted, few if any? ever hedge, so guessing they use the term "hedge" as more of a gimmick of allowing the public to feel more at ease? If I ever get to where I am going public, if I can't hedge it, not going to trade it. The public been screwed for years, I can't work that way. Yea, doing manual hedging, got real close to many times of WTF am I doing...best to make a flow chart. And when folks ask to help them in hedging, well...no, I have spent 8 long years and probably have another 8 years to get real good, there is just so much you can do with options, and also have to know where reversals will happen in underlying so you have to study charting extremely well.

Good luck.

 

[treeman]

I’m not claiming to ever match your hedging, but I have a place to burrow. An important place. Much appreciated.

 

[Spooz Top 2]

Both DJX and SPX closed as pin bars on monthly. Should be interesting rest of the summer.

Yes Indeed ... Fortuitous morning buy programs negated That GraveStone ... Leaving us with a Bearish Pin Bar Close on the Monthly... Bearish Pin Bar Sticks are a clear rejection of a price level at a Swing Hi`s, in this case 2745 R, ....followed by a large directional move opposite the failed Swing Hi.... I like what I`m seeing across the board here as Iv`e increased my shorts at the 40 level here based upon the obvious 5 min H&S & routine Friday Selloffs late in the session.
I will continue to increase position size on significant lifts here... I have the Hat Trick here with Monthly Topping patterns building out on the three Horseman! Monthly always take time to come to fruition so what started as Daily DT`s have now graduated to Monthly DT`s.

 

[treeman]

This week is obviously an important week. If it drops below the 20 wk ma, I doubt it holds on and I’ll reverse course. Good trading!

 

[rocketman987]

What will happen over the next few days into the 4th. A patriotic rally?? I can't rule this out, actually makes sense doesn't it given the unrelenting selloff over last few weeks???

We will see over next couple "short" trading days.

 

[treeman]

What will happen over the next few days into the 4th. A patriotic rally?? I can't rule this out, actually makes sense doesn't it given the unrelenting selloff over last few weeks???

We will see over next couple "short" trading days.

I am attempting to buy at the bottom of a pullback afterall. If my failure point is 50 pts away, i’m doing something wrong.