ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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1470 close puts it within 20-30 of testing resistance at 96.00
EOD 16:13 =)
EOD 16:13 =)
I don't know about any of you here, but if anyone needed an object lesson about honoring one's stops and being flexible enough to flip to the other side, I think today was it. The intraday chart from today is worth framing--or at least having a special place in one's chartbook.
There were signs galore that the afternoon was going to end badly. New intraday high on the VIX. New intraday low after 2 PM. Pivot highs kept getting lower and lower (first 1460.50, then 1459.50, then 1458.50).
Those who entered short after the market failed to hold at support in the 1449 area were following well grounded principles. And they were wrong. And I was wrong, having shorted at 1448.
But when the market turned, it was a humble reminder that sometimes the unlikely happens, and that's why we place stops, and keep them in place.
I'd rather flip than get burned.
Good luck to all.
There were signs galore that the afternoon was going to end badly. New intraday high on the VIX. New intraday low after 2 PM. Pivot highs kept getting lower and lower (first 1460.50, then 1459.50, then 1458.50).
Those who entered short after the market failed to hold at support in the 1449 area were following well grounded principles. And they were wrong. And I was wrong, having shorted at 1448.
But when the market turned, it was a humble reminder that sometimes the unlikely happens, and that's why we place stops, and keep them in place.
I'd rather flip than get burned.
Good luck to all.
trendlines can be used as a form or risk management.. and bias risks.
look at where it decided to run to.
Biggest pct gainer in Dow today?
AT&T. +2.55% Is it a coincidence that they paid their dividend today? over $2 billion. Verizon was up there also, 3rd biggest % gain at 1.62%. They paid over $1bil today.
Am I being fooled by randomness or is there something going on there? Also, I would think that index funds holding those 2 stocks would buy at or near the close or they risk underperforming the index.
AT&T. +2.55% Is it a coincidence that they paid their dividend today? over $2 billion. Verizon was up there also, 3rd biggest % gain at 1.62%. They paid over $1bil today.
Am I being fooled by randomness or is there something going on there? Also, I would think that index funds holding those 2 stocks would buy at or near the close or they risk underperforming the index.
http://online.wsj.com/article/SB118600443512785262.html?mod=hpp_us_whats_news
something wierd was happening...last month.
something wierd was happening...last month.
a break of this channel which is pretty easy to do with asia/european follow through, leads to a technical run up to 96...for nonfarm payrolls.
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