ES Journal - 2019/2020

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vanzandt said:
I was gonna take a picture of CNBC on the TV this morning for posterity-sake.

On the top was the Futures board with the Dow up 300+ points, on the bottom was the headline:

"20.5 Million jobs lost in April".
:banghead:
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Thats why you must trade price . In reality the S@P should be no higher than 2k but were not .But that why were no falling. People see all this negativity and short thus traders see this and buy to force them to cover. If your a thinker and use reason and analysis you'll never make a dime in this game .
 
hafez50 said:
If your a thinker and use reason and analysis you'll never make a dime in this game .
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There is always a reason. Fed's 3T has to go somewhere. Trouble is, it's hard to see which force is stronger: a nuked economy or 3T. After the dust settles, after months / years this will all be crystal clear. But we have to trade now, so price it is.

Also, it's not just about not making a dime. It's mostly about (not) losing your shirt
 
Builder17 said:
If I remember right in late feb, early march he was assuming normal support would hold but traded with some large stop outs because of the extremity of the sell off going deeper to hit multi year lower zones. The stops probably could have been tighter if trading from the long side during then. I have no doubt a lot of people got it very wrong during that time period with too much leverage as well. From what I read, he doesn’t average into losers. However once you recognize why he chooses certain areas to enter and exit I think it becomes more clear that there is a plan.
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I don't believe there is a plan. During the 1000 pt move down he lost 950 pts if I remember correctly (I just counted the stops he posted here, and even gave him the advantage of doubt if something was not 100% clear). So basically he can break even if we get back to ATH.

I called him out on this when he posted a while ago the move down cost him 400 points or so.
He never replied but just blocked me. So no idea what he has been posting for a while, but my guess would be: "Major move north coming up", "I love pull-backs in bull markets" and "Floor being constructed".

I know this is his journal and I don't want to spread hate, but when I see someone not being honest and possibly misleading new traders I speak up.
 
DarthSidious said:
There is always a reason. Fed's 3T has to go somewhere. Trouble is, it's hard to see which force is stronger: a nuked economy or 3T. After the dust settles, after months / years this will all be crystal clear. But we have to trade now, so price it is.

Also, it's not just about not making a dime. It's mostly about (not) losing your shirt
More...


Thats one thing i've never agreed with people on. Did they $3 trillion buy stocks directly? No . Even if it did we have the Japan model were they have been buying stocks directly for decades yet the mkt is down 60% from 31 yrs ago . Inflation adjusted is basically down 100%. Thats just BS wall street uses to brainwash all to chase and buy. If you believe it becomes reality . I call wall street the place were dreams come true . If your believe it will become reality . In the end the reasons why were up are meaningless . We are and thats all that matters . Getting back to today the PA sucks so far.
 
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This is my chart at the moment: we have been in a broad bull channel since yesterday and now testing the trend line. Inside the channel we have been ranging for a while or possibly started a bear channel. Top of the channel before close is 2955.

upload_2020-5-8_16-54-4.png
 
vanzandt said:
I was gonna take a picture of CNBC on the TV this morning for posterity-sake.

On the top was the Futures board with the Dow up 300+ points, on the bottom was the headline:

"20.5 Million jobs lost in April".
:banghead:
More...

and almost at highs again. That's and incredible feat.
 
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