ES Journal - 2021/2022

Buy1Sell2 · Mar 7, 2022

Sure looks like a longer term top to me-- XLF

Zwaen · Mar 7, 2022

Fwiw Arkk is behaving relatively bullish to this selloff. Maybe for these stocks the bearish side is temporary halted.

Buy1Sell2 · Mar 7, 2022

Buy1Sell2 said:
These type of major shorting opportunities just don't present themselves very often in my view. I want to take advantage of it. Staying short---I expect that daily trendline to bust if not today, then very soon.

Anyone recognize this posting from Jan 10, 2022?---

Zwaen · Mar 7, 2022

Buy1Sell2 said:
Only thing standing in the way now of financials meltdown is the July 2021 low.

Why not (also) the 25 march low?

Buy1Sell2 · Mar 7, 2022

Zwaen said:
Why not (also) the 25 march low?

It's not significant in my view. Here is a monthly chart of XLF showing the more significant July 2021 low---

c1rcle · Mar 7, 2022

c1rcle said:
Just went short, but I am not seeing the downward move I was expecting after that break down

finally, a bit more promising..

Concinnity · Mar 7, 2022

c1rcle said:
finally, a bit more promising..

Yeah, have to be patient. People generally just keep buying and buying until they are forced out, so takes time to completely breakdown. Plus the short trade gets crowded / becomes too obvious at some points, so get those short covering rallies. I've cut a few of my shorts early today unfortunately. But still up decently.

c1rcle · Mar 7, 2022

Concinnity said:
Yeah, have to be patient. People generally just keep buying and buying until they are forced out, so takes time to completely breakdown. Plus the short trade gets crowded / becomes too obvious at some points, so get those short covering rallies. I've cut a few of my shorts early today unfortunately. But still up decently.

This ES/NQ divergence isnt helping by NQ short.

Concinnity · Mar 7, 2022

c1rcle said:
This ES/NQ divergence isnt helping by NQ short.

Believe me I know on Friday was even worst. Both RTY and NQ hit there Daily support level. But they refused to let ES go and hit it, ES literally was going up while NQ going down.

c1rcle · Mar 7, 2022

Concinnity said:
Believe me I know on Friday was even worst. Both RTY and NQ hit there Daily support level. But they refused to let ES go and hit it, ES literally was going up while NQ going down.

Yeah I lost patience and closed my short on Friday because of that, so missed out on the gap down. Thankfully it went all the way up again and gave me a second chance to short at the same level!