ES Journal - 2019/2020

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On ASX open 55 minutes ago I bought BBOZ, BetaShares Australian Equities Strong Bear Hedge Fund, a managed investment fund, the units trade on the ASX much like ordinary stocks.
I also dumped an equal value of other stocks.
I've never seen mkt this bearish before.
 
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I think 2 things are different here. That i know of this is the first time we've crashed off ath's . Also in raw pts down 1200 is eye popping . But its equal to 600 pts in 2008. So its much more emotional now but % wise its no different . But this is much more a shock effect as 6 trading days ago the mkt was at ath's and everyone felt Invincible . As i said must people should be trading the es and not the es in this kind of crazy volatility
 
vanzandt said:
Actually I think 2975 will be the new resistance... after 2690 is touched.

We can all draw lines on a chart. For the most part its useless. There's too much uncertainty out there... there's gonna be a pullback. It doesn't take a whole lot of charting skills to see that there will be strong support around the 2700 area. So my call of 2690 is more of a call on an impending pullback that I believe will come about before the election due to a myriad of macro-economic and geo-political uncertainties. Simple as that. I apologize if I was a tad short with my response. I see strong support at 2700. I see a world that's a powder keg and the most powerful man in the world is rattling around 1600 Pennsylvania Ave playing with a book of matches.
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Not trying to quote myself, and 2-1/2 months ago seems like a lifetime ago now... but its not. And again to Spooz's point... it didn't have to be Corona... its just a normal thing. Water always seeks its level.

schizo said:
From reading some of the posts on this forum, I get a sense that not a lot of them have truly witnessed or actually traded during 2000-2003 or 2008-2010 bear markets. I'm sure most of them will not make it through this bear market. But that's part of the game.
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I have. And few before that. Not a pro like Spooz and a few others here tha don't post on this thread.... I've never been in a pit, or worked a desk.... just a cat that has loved this stuff since I could read a newspaper ("what's that(?)" asks the Gen Z'r's and the youngest of Millennial's here) and figured out it was the easiest form of gambling to gain an edge in, AND.... it was legal.






trading_jean said:
@B1S2: I have a question if you don't mind answering. You seem convinced this is just a dip and the bull market is still in place, correct? If so: what would you need to see to change your mind? Any specific PA? Particular trendline or support broken? Bad fundamentals/earnings?

Don't get me wrong, I am not claiming we will go down another 10% from here. Truth is I have no idea (but since I trade on the 5M chart it doesn't matter much).
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We'll never know until we get an:

"Alert Alert Alert....
....the parabolic bull market is officially dead". -B1
 
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This market reminds me of a poster named Candles ? He posted on ES board all profitable long trades and about the market paying him his money back in 2008. Kept chasing all the way to the 1550 top and then if I recall bought right near the top and was never heard from again as we fell to 666.
 
hafez50 said:
I'd certainly recommend anyone with less than $50k in their account to be trading the mes and not the es today with the incredible volatility . It allows one to hold positions during the crazy swings and not get scared out .
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Nonsense

I recommend trading 40-80 ES with $500 daytrade margin and pressing the F out of this vol
 
volente_00 said:
Nonsense

I recommend trading 40-80 ES with $500 daytrade margin and pressing the F out of this vol
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Well, trading the bear market is much harder than trading the bull market. First, you do not just want to buy and hold. You will most likely get slaughtered. The market can gyrate up and down over 50 handles at a clip. You need to be nimble and not be greedy. As they say, bulls make money, bears make money, but them fat pigs end up in the slaughterhouse.
 
volente_00 said:
This market reminds me of a poster named Candles ? He posted on ES board all profitable long trades and about the market paying him his money back in 2008. Kept chasing all the way to the 1550 top and then if I recall bought right near the top and was never heard from again as we fell to 666.
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I remember a few die-hard permabulls. They probably changed their handles. Nothing new. Still the same old. For instance, what's that dude called, the one who always tells people to sell their home and buy QQQ to the hilt, that it was going to the moon? Their heads will be handed down to them on a silver platter.
 
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