ES Journal - 2023/2024

Picaso said:
OK, so the bad news is that - totally ignoring my previous post :D - I came to the market today with a strong bullish bias...

The good news is that since everything was screaming "short" (EMAs on 3 timeframes, downward momentum picking up, almost all stocks on my watchlist in the red), I stopped myself from trying to catch all these falling knives - a very expensive hobby of mine in the past.

So totally flat for the day (in hindsight, silly me). I'm going to take a break, pull my hair for a bit and clear my head.
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Sorry to hear that.

Curious - where did the strong bullish bias come from?

I had the same thing happen last Friday.

This week have been fairly clear to the short side for me, though. And Friday helped with that, I think.
 
Laissez Faire said:
Sorry to hear that.

Curious - where did the strong bullish bias come from?

I had the same thing happen last Friday.

This week have been fairly clear to the short side for me, though. And Friday helped with that, I think.
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Mmm... I'm not sure, maybe because my European stock portfolio was up today and I thought we were due for a bounce (I really don't think that the sky is falling, fine by me if we drop some more, but as someone else said somewhere this week, it's better to have a strong economy with higher interest rates, than a weak one with lower rates).

Also, I'm going on holidays next week and I'm a bit tired :D

At least, I haven't had a shitty day in a long time and I haven't gone on tilt in years, but I have this feeling I'm leaving money on the table week after week.
 
Picaso said:
Mmm... I'm not sure, maybe because my European stock portfolio was up today and I thought we were due for a bounce (I really don't think that the sky is falling, fine by me if we drop some more, but as someone else said somewhere this week, it's better to have a strong economy with higher interest rates, than a weak one with lower rates).

Also, I'm going on holidays next week and I'm a bit tired :D

At least, I haven't had a shitty day in a long time and I haven't gone on tilt in years, but I have this feeling I'm leaving money on the table week after week.
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Personally, I think yesterday's weak RTH session at Monday's Low was the tell. I tend to not weight ETH too much. I see that it rallied pretty strongly pre-market, so that type of strength could seem pretty bullish I suppose.
 
I have some confidence 5K prints by RTH tomorrow.

Ultimately, I still think we're in correction mode and a have a few 100 points left of downside, but I'm not married to that view. Could see some bounces on the way, so that's the tricky part. :)
 
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