ES Journal - 2021/2022

[mervyn]

Short 4772.50 Initial stop 4809.00

but why?

 

[Buy1Sell2]

but why?

Market is technically weak.

 

[mervyn]

Market is technically weak.

you better close the position now, and take some profits.

 

[vanzandt]

We're heading lower this week.

When I wrote the above, I had searched multiple years to find a finish similar to the last several months of 2021. I wanted to see a year end that was constantly making new highs right thru the end of December, and then how it transitioned into January.
Like our end to 2021.

Pull up a daily chart of QQQ for the timeframe Oct 1, 2015 to Jan 30, 2016
Look familiar up till today?
That's the one I based this call on.

 

[Buy1Sell2]

Down goes Frazier!

 

[Laissez Faire]

Down goes Frazier!

Nice entry!

 

[mervyn]

bought 1 ES Feb 4770 put and 5 VIX June 25 calls on my way back, expect for some bad news to come.

closed es put with small profit., long 1 june contract

the drop was more than expected, gave back some gains and ready to load up slowly

 

[Buy1Sell2]

I'm going to stay short for now. The key area I will be looking at for longer term legs is 4530. We need to break that to continue and break out of this topping range.

 

[Buy1Sell2]

We've already got the legs to get down to 4530

 

[mervyn]

103 points on es and done.

i just trade price actions, no judgement on marco but i think for the interest of self preservation, as long as we still have covid spreading, the market is for the dip buyers.