ES Journal - 2023/2024

theapprentice said:
i've been buying dips and breakouts for a few weeks now.
Was partly based on how everyone was in the 'we surely can't keep going up!' camp. I like to fade sentiment like that.
Last few days i've felt a bit of a shift whereby everyone online is now ''ATH's and then some are guaranteed'', ''don't even THINK about shorting this!!'' and just lots of ridiculing of bears.
Makes me wonder if we don't get at least a nasty down day or 2 soon?
This is all very unscientific but it's something I tend to take note of.
So Not sure I personally want to 'chase it' for too much longer as I have been doing teh last week or so. If we make another massive rip from these levels I guess i'll just have to sit it out and let it go up without me.
But tbh, i'd still be very comfortable buying any sort of half decent 'dip'. (shake out some very late bulls maybe, and then carry on up?)
More...

100 %.

This, along with strong seasonality for November, is why I got very bullish a few weeks ago and have mostly been playing the long side. Way too many people were fighting the market and trying to make it fit their view of what has to happen, i.e., the market should at least retrace here, this isn't normal, those gaps need to fill first and so on.

While a very impressive move, this isn't something we haven't seen before, so that gives additional confidence.

Now, that the crowd seems to start getting excessively bullish, it's time to start being a bit wary of a down turn coming just when everyone's not expecting it.

And as always happen, after some selling everyone is then expecting a market crash and the market will reverse back up. LOL. :)
 
You guys still on holidays? NQ pretty good intra-day trading today. Plenty of mini rotations for longs and shorts, may be close to Christmas, but can still ride the waves.
 
I have to hand it to you guys. Maybe it's just because I am use to NQ, but ES just seems like 10x more difficult to trade. Long mes and mnq and just getting absolutely paid on mnq, while mes just doing nothing.
 
Concinnity said:
I have to hand it to you guys. Maybe it's just because I am use to NQ, but ES just seems like 10x more difficult to trade. Long mes and mnq and just getting absolutely paid on mnq, while mes just doing nothing.
More...

Hard to make money on something that doesn't move much. But it (M/ES) does have it's moments. Of course, when it does, NQ is having at least double that moment, heh.
 
You must log in or register to reply here.
Back
Top