ES Journal - 2023/2024

[formikatrading]

From what I can tell, the market has been acting fairly well here. Very possible that today's early declines were the last good entry point but we shall see. The other side of this is that we're getting overbought in short-term. But if market can still push higher despite that, that will be a sign of strength.


[/QUOTE]

I expect whales to be waiting on CPI this Thursday. Looking at indexes over in Europe, which are breaking out of their bear trends, so is DJIA, I sense SPX is lagging behind here. CPI is likely to be yet another decline and this should be the trigger point for SPX to smash through the declining trend line (seen on weekly). USD falling, crude heading down, commodities heading down too. That's what I think.

 

[schizo]

Momentum is slowing. The bulls are getting tired. I think we will close near 3915 today.

As for tomorrow, I'm more inclined to go long than short. Maybe another 100+ bagger like 2 days ago?

Correction: Upside move on Thursday after CPI, not tomorrow.

Anyway, sell going into CPI and buy afterward is the plan for me.

 

[SunTrader]

Although an up close (400pm) it was barely above yesterday's RTH open. And we made a LH and LL .... so I call it a neutral day as far as short term 1-3 day outlook with CPI 2 days away likely the determining factor.

 

[Master Pu]

From what I can tell, the market has been acting fairly well here. Very possible that today's early declines were the last good entry point but we shall see. The other side of this is that we're getting overbought in short-term. But if market can still push higher despite that, that will be a sign of strength.

[/QUOTE]

Let's see what happens, whether the low will hold. All I can say is that I think that it will

 

[NoahA]

Funny how some of the same chart pics that I "don't allude to significance yada yada" get likes from others that get it.

I like stuff just because I appreciate the reply, but not because I always agree!

Since I thought words confuse some folks, I post a chart picture same difference. Oh well.

Yes, I think charts are incredibly useful to illustrate a point. But they don't mean much without action. Any one of us can post chart, some with indicators, some without, but yours for some reason never mean much, at least to me.

Contrast yours with this one that Schizo posted along with his point, makes a whole lot more sense.

Now clearly you are free to post as little or as much as you want. But when people start wanting to take credit for calls without actually making calls, and try and sound smart without really not saying much, it gets a bit nerve-wracking.

All of us guys that are actually trading know how no matter how good our analysis or entry is, the market kicks us in the teeth. Heck, even schizo yesterday called a trade near the LOD at 25.50 that failed instantly. But you know what, that means that when he calls a trade that instantly works, its 100% believable.

Now don't get me wrong, my opinion about what you post means fuck all. I'm just saying that I agree with the frustration of @Laissez Faire and we all reach a point where sometimes, people have to be willing to back up some claims or end up on ignore. I have already ignored a few people in this ES thread and find it easier to read. I'm not saying that I will ignore you, I'm just saying that more respect can be gained with transparency, if respect is something that people seek. (which I guess is a strange thing to look for in an anonymous forum... LOL)

 

[SunTrader]

I like stuff just because I appreciate the reply, but not because I always agree!


Yes, I think charts are incredibly useful to illustrate a point. But they don't mean much without action. Any one of us can post chart, some with indicators, some without, but yours for some reason never mean much, at least to me.

Contrast yours with this one that Schizo posted along with his point, makes a whole lot more sense.

View attachment 303374

Now clearly you are free to post as little or as much as you want. But when people start wanting to take credit for calls without actually making calls, and try and sound smart without really not saying much, it gets a bit nerve-wracking.

All of us guys that are actually trading know how no matter how good our analysis or entry is, the market kicks us in the teeth. Heck, even schizo yesterday called a trade near the LOD at 25.50 that failed instantly. But you know what, that means that when he calls a trade that instantly works, its 100% believable.

Now don't get me wrong, my opinion about what you post means fuck all. I'm just saying that I agree with the frustration of @Laissez Faire and we all reach a point where sometimes, people have to be willing to back up some claims or end up on ignore. I have already ignored a few people in this ES thread and find it easier to read. I'm not saying that I will ignore you, I'm just saying that more respect can be gained with transparency, if respect is something that people seek. (which I guess is a strange thing to look for in an anonymous forum... LOL)

Wait ...

".... credit for calls without actually making calls" where did I do that? I answer someone who questions what I said.

I don't make calls, period. I say what I believe might happen. That is all.

If a word search was done for my posts a word that would come up a lot is likely.

 

[NoahA]

Wait ...

".... credit for calls without actually making calls" where did I do that? I answer someone who questions what I said.

I don't make calls, period. I say what I believe might happen. That is all.

If a word search was done for my posts a word that would come up a lot is likely.

That's fair, I don't think you have ever made a specific call. But then you're just an arm chair observer, which is fine, but in a way, frustrating for guys trying to learn. Of course coming to ET to learn to trade is actually the biggest mistake you can make. How ironic that on a trading forum, you shouldn't actually attempt to learn to trade! LOL

 

[c1rcle]

That's fair, I don't think you have ever made a specific call. But then you're just an arm chair observer, which is fine, but in a way, frustrating for guys trying to learn. Of course coming to ET to learn to trade is actually the biggest mistake you can make. How ironic that on a trading forum, you shouldn't actually attempt to learn to trade! LOL

As an outsider this argument seems a bit nuts to me.

There aren't any rules that I know of for Suntrader to have broken.

Either way, if people are getting frustrated, angry or upset, then that's their own demon to conquer. A good trader needs to be in control of their emotions. So if someone is posting in a way that doesn't follow some mythical rules and that gets them upset then what does that say?

It's a lesson for myself too. In other areas of my life I get angry about silly things. I just remind myself that I wont even remember it in a years time let alone ten years time and then suddenly I don't care about it any more.

Have a think about what really makes this forum useful. Would it be better if everyone followed a certain set of rules and everyone agreed all the time? Or would it be better if people came with differing styles and view points? I generally don't agree with most people on this forum, but that's fine because I am always second guessing every decision and every trade even after I go long or short. I personally prefer to hear the opposing views and I don't think oppressing people is the way forward.

 

[Cessna06P]

Long /CL at 74.54 stop 74.46

 

[SunTrader]

That's fair, I don't think you have ever made a specific call. But then you're just an arm chair observer, which is fine, but in a way, frustrating for guys trying to learn. Of course coming to ET to learn to trade is actually the biggest mistake you can make. How ironic that on a trading forum, you shouldn't actually attempt to learn to trade! LOL

So besides this topic and maaaaybe one other which make calls out of the 100's of topic each month alone?

And I would guess call posts here are outnumbered by a factor of 10, maybe greater. I've seen this topic (well ok the 2021-2022 version) go for hours without any, sometimes a day or two. U.S. trading hours/days I'm referring to of course.