ES Journal - 2019/2020

[FriskyCat]

Tomorrow we should see a nice drop to 2640.

Feels a bit like earnings season zig-zags. Masterful work of taking out yesterdays lows by a few ticks. I missed the perfect touch on ES of the 2/28 swing lows since I was watching cash SPX. Dumb.

 

[Picaso]

This is just the start of a barrage of announcements from the government in regards to the crude oil crisis. Today they announced a program to pay producers to stop drilling. Next up: expansion of the SPR.
Any and all announcements meant to burn the shorts in the futures markets. Indeed, CL could not stay in the 19's today....4 pm close in the mid-20's.

IMHO, it would be better to tax foreign oil, or even subsidize domestic production, to a point where US oil producers don't go bust.
Otherwise they're just making all this effort to help Russia, Saudi Arabia and Venezuela...
But what would I know?

 

[FriskyCat]

Let's see what happens tonight. From what I've seen, Fed typically only props during RTH.

No way man. It's a 24 hour operation.

 

[FriskyCat]

Hello All, I have been lurking on your thread a while so I thought I would join you. I monitor /ES on one screen and this thread on the other. It is quite enjoyable. I have been trading for a while but with less than spectacular results. At least I have not blown myself up yet. I have convinced myself that it is possible to be a winner at this game. It has taken a while but I am to the point where if I lose a couple of hundred on a trade it does not upset me. I am learning a lot from just following you guys. So I hope that I am welcome.

Trade the micro's.

 

[Buy1Sell2]

There is no such thing as a PPT that buys equities to prop markets up.

 

[schizo]

This was an absolutely fabulous cash closing today---- Look at the chart below and deny it--

View attachment 225077

I agree, it looks pretty bad.

 

[schizo]

This is just the start of a barrage of announcements from the government in regards to the crude oil crisis. Today they announced a program to pay producers to stop drilling. Next up: expansion of the SPR.
Any and all announcements meant to burn the shorts in the futures markets. Indeed, CL could not stay in the 19's today....4 pm close in the mid-20's.

Texas already declared a moratorium a few days ago but most of the producers balked. Let's see if they can reach a consensus this time with the Fed.

Expanding the SPR? Nah. Why would they that? If the oil price goes up, it would be all for nothing.

 

[schizo]

Let's see what happens tonight. From what I've seen, Fed typically only props during RTH.

That's because the Fed hands the baton over to BOJ during the Asian session and the ECB during the Euro session.

 

[NQurious]

Meant to say "wicks, wicks"!!! what was I thinking?

You had me worried.






















Still do.

 

[Buy1Sell2]

No----it doesn't look bad----It looks fabulous.