ES Journal - 2019/2020

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Hooti said:
...I have my primary goal for the day met so can respond
A momentum bar works for me because I have a "scalp and slide" trade management strategy. At least that is the way I think of it. I am a swing trader on the scale of a day trader. But I take a small scalp with the majority of my position first, and let the rest run. The scalp is a small enough target to have a high win rate off a momentum bar.
The scalps are like base hits. This is really all I need for the day. When a 'slider' comes in... a home run? I like those also!
This is a personality thing. The scalp high win rate feels good and may be a security thing... it is extra work, but satisfies.
And on slow days, the small scalps, with size, can get you to your daily profit target and you can be done and have TIME for going out and live a life.
............

Love this quote...
"will keep pushing against my rules..."
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Excellent post... demonstrates how important it is to trade your personality type... One has to find & tailor the correct style for themselves...
 
SPYgrain said:
believe it's underlying strength, not 100%...what do you think relent?
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Honestly I'm unsure. Think you could make a case for both sides. Feels like a bit of a congestion / digestion day so far today off that big day yesterday.

Does the big reversal off that key level yesterday tell you anything - or just that key levels are often contested initially?

Lol I probably sound like I'm feeling my way along the wall in the dark with some of these questions. Just trying to learn and better my observational chart skills. Some of the levels you call on incoming moves are so accurate its incredible!

tiddlywinks said:
This is due to the ES component weightings. Not a divergence. More of a tell of broader market weakness imo. I'm pretty sure each of the 100 NQ stocks and the 30 YM stocks are part of ES... there are 370 other stocks in ES too.
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Thanks for weighing in TW! Great insights as usual.
 
Relentless said:
Honestly I'm unsure. Think you could make a case for both sides. Feels like a bit of a congestion / digestion day so far today off that big day yesterday.

Does the big reversal off that key level yesterday tell you anything - or just that key levels are often contested initially?

Lol I probably sound like I'm feeling my way along the wall in the dark with some of these questions. Just trying to learn and better my observational chart skills. Some of the levels you call on incoming moves are so accurate its incredible!



Thanks for weighing in TW! Great insights as usual.
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my learning curve is fitting execution with observation - honing/simplifying..
 
ElCubano said:
I'd like to see what Delta puts up tom.
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Not too bad really, they can remain solvent for about 18 months. Cut back their projected additional flights in August from 1000 to 500.

As picking stocks for the long haul goes, I always look at the CEO of a company. Someone told me this way back when I first started buying stocks in the mid 80's and I've written this here at ET more than a few times... "Bet on the man, not the company".

I'll tell you what, that Ed Bastion... he is one top notch CEO. If anybody can pull an airline through this mess, he can. If he were to ever leave Delta for another company, I would buy stock in that company the minute he signed his contract.
 
vanzandt said:
Not too bad really, they can remain solvent for about 18 months. Cut back their projected additional flights in August from 1000 to 500.

As picking stocks for the long haul goes, I always look at the CEO of a company. Someone told me this way back when I first started buying stocks in the mid 80's and I've written this here at ET more than a few times... "Bet on the man, not the company".

I'll tell you what, that Ed Bastion... he is one top notch CEO. If anybody can pull an airline through this mess, he can. If he were to ever leave Delta for another company, I would buy stock in that company the minute he signed his contract.
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Crazy how much revenue was lost.
 
A basic FYI/FWIW... @ 1020a (pst), ES volume is running at 74% of yest. 2.75 hours rth to go.

Nothing to suggest volume-wise, that the pattern that exists since the first shutdown is about change here.
Up days on decreased/ing volume, down days on increased/ing volume.
 
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