ES Journal - 2019/2020
- Thread starter Buy1Sell2
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There are lots of earners coming out this week that are major movers. Going short this market is a fools errand unless it's a piker trade.
I was referring to this A.M. on the earnings and the movement overnight. He nailed it.
Google's earnings beat is already anticipated. Apple is just the Apple story now. All eye's this week are FOMC and non-farm payrolls. If the Fed is truly independent, then a 1/4 point rate hike should be back on the table. No market goes straight up.
He moved his stop higher in an uptrend...what is it that he "nailed"?
At least for the time being, he avoided getting his stop "nailed" by one tick. I myself do not short bull markets but rarely. I did do one short day trade last week for about 5 or 6 points when it became clear that the 2914's HWB had become a high odds trade. I had buy limits down there, so it only made sense that I short and cover into my longs. I do not like being short at the highs ... unless I'm right
. And shorting the high of a bull swing and being right at the same time isn't easy. I'm not saying it can't be done, but I'd rather leave that up to those who know what they're doing.It was an overnight trade. There was no "uptrend" last night. It was flat as a pancake. He moved his stop and didn't get stopped out on a momentary spike to exactly where I said it was gonna spike. Hopefully he closed it this morning for a win. If not, we''ll see what happens.
First target was 39 so he should have made some ... I don't know his trading plan other than what he posted when he posted the trade. Always hope everyone here finishes positive!
Soon ...
EDIT 10:52: At the moment it is setting up for another pullback to 43-45's and then a push pack to 48.75 ... after that ... I can't see beyond that ... dang "made in China" crystal ball
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Since everyone knows the FOMC will kowtow to Trump, its not out of the question they signal a possible rate cut. There reason will be low inflation. Although anyone that follows markets will know that rising energy will cause inflation to tick up. That's why Trump must continue to jaw bone oil so it does not rise to much.
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