ES Journal - 2019/2020

[vanzandt]

I've been doing this for long, long time. I play these markets with my chump change, I am indifferent toward a win or loss, but winning is always better. But the market inflicting pain on me...not going to happen, too disciplined to allow that to occur.

Ditto.
Respect.

 

[vanzandt]

But when? What's it matter if the market is going to be lower a year from now if a week from now it is going to be back up near or even above its current all time high?

Bottom line is no one - not you, not me, not Jerome Powell, not Jim Simons, not Soros, or Buffet, or CNBC knows anything about where price will be in a year.

Right now price has been going up since March 23, 2020 and there has been no sign of a major trend reversal. But I will let you know as soon as I see it.

Well, thats why I said trade your signals and you'll be fine.
But I disagree on the time thing. We're going to enter a major recession when this dust settles.

 

[syswizard]

We're going to enter a major recession when this dust settles.

Zandty....so we are in a "minor" recession right now ?
The market is up due to Fed stimulus and hopes for a vaccine by year-end....and tech is carrying the market up based on some of them reporting stellar earnings.

 

[Gaslight Capital]

We're going to enter a major recession when this dust settles.

I agree. We are in one already I would imagine. But the Fed is already committed to perpetual asset inflation and has now publicly announced it is ready to do what ever is necessary to take the Volcker lid off inflation. So, essentially, Pandora's box is being opened, Venezuelan style. As Venezuela's economy crashed, their stock market ripped like no one has ripped since Japan circa the late 80's.

We can have a prolonged depression without declining stock prices because unlike the last depression, we now have fiat, i.e. imaginary currency.

https://www.barrons.com/articles/th...nk-as-inflation-heads-to-1-000-000-1532517514

 

[traderking007]

At this point in time I still find it distracting to trade and post. Maybe over time that will change.

i find trading and posting to be great

 

[syswizard]

i find trading and posting to be great

Indeed...I agree. This is such a f*cking lonely business. I remember my days at the prop shop....now that was fun. ...all of the yelling and swearing.....LOL.
Here at a home office alone, not so much.

 

[wave]

Look to buy it 3339 and below and place your stop below 3315.

premeditated price engineering.

 

[wave]

You just have to believe...

 

[syswizard]

You just have to believe...

Did you get the 3339 fill ? I see 3339.50 as the low today.

 

[wave]

Did you get the 3339 fill ? I see 3339.50 as the low today.

thanks for waving your magic wand. Much appreciated