ES Journal - 2019/2020

FXtrader8911 · Feb 23, 2020

Overnight said:
I'm long Jun MNQ at 9751

You missed the top by just 1 pt, you are legend

Overnight · Feb 23, 2020

Sekiyo said:
Was bullish at first too.
I expect a little correction towards 3340 (ES).
3300 looks like a LT buying spot.

But this early tape tells me to short ...
Good Luck.

I think we have blown below your support levels?

Sekiyo · Feb 23, 2020

Overnight said:
I think we have blown below your support levels?

1st support is at 3278-81 which is my TP
2nd support is at 3262 which is ... IDK
3rd support is at 3235 which is a good bye.

Overnight · Feb 23, 2020

FXtrader8911 said:
You missed the top by just 1 pt, you are legend

On the Jun ladder, it actually printed up into the 9781-ish area on Wed night. I thought, "How bad can we pull back from here?" I was thinking of getting out when it started festering at the 77ishlevel, but decided to hold on.

I mean, really..

vanzandt · Feb 23, 2020

Man the farther China drops..... the greater the generational opportunity to just buy and hold that place. Corona WILL pass and China will press on. This is like '08 in the States, just a different boogeyman.

Sekiyo · Feb 23, 2020

vanzandt said:
Man the farther China drops..... the greater the generational opportunity to just buy and hold that place. Corona WILL pass and China will press on. This is like '08 in the States, just a different boogeyman.

Generational is ES at 1750

vanzandt · Feb 23, 2020

Sekiyo said:
Generational is ES at 1750

F the ES.... think globally son. Specifically China. It's not going away, trust me. Keep buying as a bottom is hard to call at this point. The more it drops, the more you should buy. Use a Buffet time-frame. Looking ahead that is.

Overnight · Feb 23, 2020

vanzandt said:
F the ES.... think globally son. Specifically China. It's not going away, trust me. Keep buying as a bottom is hard to call at this point. The more it drops, the more you should buy. Use a Buffet time-frame. Looking ahead that is.

I bought, and my bottom is being spanked. :-)

What does your magic pencil say?

FXtrader8911 · Feb 23, 2020

vanzandt said:
Keep buying as a bottom is hard to call

True, but we are still close to the top so be prudent... start buying when prices get close to the 200-day average, that's still 200 pts away from here. China is not the only (temporary) factor here, after the virus will be the effects of the virus in earning reporting and after that is the election uncertainty. These are just the knowns.... My first ES buy is at 3,180, currently, I'm net short

vanzandt · Feb 23, 2020

Overnight said:
I bought, and my bottom is being spanked. What does your magic pencil say?

Put 35% of your net worth in a China pure play. If it drops another 10%, put in another 25%.
Put the last 40 in on a 15% drop from there.

Then go on vacation and never trade again for 15 years.