ES Journal Archive (2006 - 2008)

wave · Jul 18, 2007

If you bought the fear around 51-50 you should hold to at least 57-58.

mbusch · Jul 18, 2007

Okay, let's try this once more.
Adding on short at 1552.75
BS 1554 (1.25 points)
PT1 1547.75 (5 points)
PT2 much lower

El OchoCinco · Jul 18, 2007

1554.25 is the pivot so I would put stops above that since a pullback to the pivot is not out of the question even if trend is down.

apex82 · Jul 18, 2007

Is benny still talking? all news has been released including crude yet market is comatose.

Mins · Jul 18, 2007

Quote from mbusch:

Gap filled. Nice tail!

S 1556.75
BS 1557.25 (2 ticks)
PT1 1548.25 (8.5 points)
PT2 much lower

Hopefully Ben will say something terrible.

EDIT: Wheee!!! Doing pretty well without Ben's help.

Very nice, i bet your as happy as i am right now. Taking target 1 at 1547 here.

mbusch · Jul 18, 2007

Quote from mbusch:

Okay, let's try this once more.
Adding on short at 1552.75
BS 1554 (1.25 points)
PT1 1547.75 (5 points)
PT2 much lower

PT1 hit and filled at 1547.75. Still holding one unit short.

mbusch · Jul 18, 2007

Quote from apex82:

Is benny still talking? all news has been released including crude yet market is comatose.

Benny just finished his prepared remarks, and is now answering questions by Barney Frank.

mbusch · Jul 18, 2007

Pausing to refresh at 1548 support level. If we break lower, look out below!

EDIT: Barney sounds pissed. Not sure what about.

EDIT: I just love hearing Barney talk about "economic gwidwock."

EDIT: Looks like another possible bear flag forming, creating another shorting opportunity on a bear flag breakout to the downside.

EDIT: Nice flag, now 20 minutes long, could break out to the downside any time now.

EDIT: Flag negated by increasing volume. May look to close out my short.

mbusch · Jul 18, 2007

Lowered buy stop to 1553.50.
May try to exit short around 1548 unless price action improves.

EDIT: It did.

Buy1Sell2 · Jul 18, 2007

Longs are not a great bet again just yet. Long term trend however continues up although there are some very very early signs of weakness and possible reversal. --Not time for me to get short either. Sidelines right now.