ES Journal Archive (2006 - 2008)

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Quote from JSSPMK:

If you trade out of RTH then you have to pay attention to world indices. So far DAX is down over 1%.
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That doesn't address my question about what it means when substantial blocks trade below bid price. Why would a rational trader sell below bid, not just once but multiple times? :confused:
 
Quote from mbusch:

That doesn't address my question about what it means when substantial blocks trade below bid price. Why would a rational trader sell below bid, not just once but multiple times? :confused:
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liquidity issues perhaps, if people need to get out of positions.
 
thinking....
friday (close) will be a slight up...
monday ... a slight down.....
then all up....
unless we crash instead....

just a guess...... :)

(edit)...
respect to all
 
Quote from mbusch:

On further reflection, I don't think I'll re-enter. The 1529 support zone was weak to begin with, and is now violated so I should probably consider it negated.
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In hindsight, the support zone was re-tested vigorously about 5:55 am EDT and held admirably at 1528, so I consider it redeemed. However, we're now too far above support (2+ pts) for a long entry, and too close to the opening of RTH to risk a close stop being whipsawed out in the first few minutes. So I'll wait and watch. But if the ES trades down at the open and shows signs of bottoming at 1528, I'll consider entering long for at least a gap fill to 1535.
 
Quote from Spooz Top:

B1.....were you able to keep your shorts on during that premarket move to 54.25?
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Yes. I don't keep my exit stop at just 1 tick above the recent high. I am still short as we speak.
 
The current daily chart resembles March 14th pretty close IMO. You've got a little "correction" followed by a reactionary bounce back, only to be taken down by the bears one last time and strongly reversed intraday. This makes me think we'll digest the move with range trading over the next day or two and then make a run for highs again. This is all me forecasting though, I'll take the trades as they come.
 
Quote from JSSPMK:

If you trade out of RTH then you have to pay attention to world indices. So far DAX futures down over 1%.
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Sir...how do you use the DAX to see where the ES is going?...just wondering...thanks
 
Quote from mbusch:

In hindsight, the support zone was re-tested vigorously about 5:55 am EDT and held admirably at 1528, so I consider it redeemed. However, we're now too far above support (2+ pts) for a long entry, and too close to the opening of RTH to risk a close stop being whipsawed out in the first few minutes. So I'll wait and watch. But if the ES trades down at the open and shows signs of bottoming at 1528, I'll consider entering long for at least a gap fill to 1535.
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Amazing how this works. At the open (0933 EDT to be exact), the market retested 1528 and bounced off, now 4 points higher.

I was just about to enter long, just waiting for a little confirmation, when the internet connection in my Hilton hotel room here in Boston went down. It's a wireless iBahn connection that has to be re-ordered once every 24 hours, and unfortunately mine has been expiring just after opening of RTH each morning. By the time I got the connection re-established, we were up 3.5 points and so once again I missed my entry. Still, it tickles me to see the market surge down to exactly the predicted reversal point -- right to the tick -- and then turn around on a dime.

EDIT: Now headed back down vigorously for a re-test of the zone. Looking for a possible long entry at 1528 if we get there and get confirmation of reversal.

EDIT: This time, it blew right through the weak zone at 1528 like a knife through butter and is running buy stops below. (That's why we need confirmation before entering.) Now looking to enter long around 1520-21, which is much stronger support..
 
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