ES Journal - 2023/2024

[ElCubano]

That was even before my time, although I remember watching the re-runs in the early 80s. Do people remember Fantasy Island or Gilligan's Island any more?

I member'

 

[vanzandt]

You guys be careful around 10AM.
Leading economic indicators for Dec come out, forecast at -.7
I think they'll be worse than that... which the market would love.
Either way... be careful.

 

[Master Pu]

I think a correction is upon us, I see 3,700 and maybe lower.

 

[vanzandt]

I think a correction is upon us, I see 3,700 and maybe lower.

By 10:05?

 

[Buy1Sell2]

By 10:05?

10:05 May 15

 

[Master Pu]

By 10:05?

haha, that would be lovely, but nope. Next leg.

 

[Buy1Sell2]

Could you expand on that interesting comment...?

Yes. SP is a long-only market in that the natural and most common direction is up and that is what the vast majority of money is working towards. The individual trader can, in my view, focus on long-only trading even in bear markets and be very successful.

 

[vanzandt]

You guys be careful around 10AM.
Leading economic indicators for Dec come out, forecast at -.7
I think they'll be worse than that... which the market would love.
Either way... be careful.

No media loudmouths whatsoever covering this
As expected, it came in at -.1 and Dec was revised down to -1.1

Up we go, although it appears the whales knew that out of the gate.
Cash is 3991 as I type.
If you don't wanna get long... might wanna do nuthin' for a bit.

 

[vanzandt]

10:05 May 15

Actually, if you look at the whales' actions regarding way out of the money puts in the last 2 weeks... it would appear June 15th is what they're thinking.
$128M on the QQQ 6/16 $240 puts.

 

[Master Pu]

Trying to sell it here