ES Journal - 2021/2022

[Relentless]

I pity the fool short above 14200 if we break out today

Why out of curiosity?

Statistically speaking most breakouts fail.

 

[Arnie]

Mostly sentiment. We've been treading here for a while. There are signs we may be rolling away from value back to growth. I do not trade based solely on a squiggly line on a chart, but I am aware of where we've been.

 

[Laissez Faire]

Near vertical rise.

Seems like history keeps repeating itself, though. There are many who will be bag holders as euphoria once again peaks. Rinse. Repeat. Most seem to get it wrong and buy when they should sell and sell when they should buy.

 

[donnap]

Ave. 99

Well, as usual, I did a lot of tactical trading.

Sold puts on the way up. Last night, I traded some MES 2 lots, but unfotunately, only scalped them. Anything to improve the cost basis.

Got up late though and missed the open which could have changed everything.

Bottom line, I am now equivalent short 6 MES 2200 calls @ around 25 pts. Currently marked at 38 pts.

 

[EON Kid]

Fed Chairman Jerome Powell is set to speak before the House Select Subcommittee on Coronavirus Crisis at 2 p.m. ET.

 

[Arnie]

I pity the fool short above 14200 if we break out today

 

[Girija]

Much Ado about nothing on fed testimony. I don't even know why they waste their time. I was expecting to go down but it went up. Been selling all through the day, one of those could have held moments.

 

[Laissez Faire]

The market appears to have lost momentum after a so far very strong week with 2 consecutive trend days.

Would be nice with a 4250 print before pulling back, though. Yes?

 

[Laissez Faire]

View attachment 261237

Update.

Buy the f''king dip is still in vogue and history does seem to repeat itself.

 

[traider]

Buy below VWAP