ES Journal Archive (2006 - 2008)

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2 clusters of stops... on a 'take the least number of people with you move'...

expecting these clusters... to be intraday tested..

1380

1440

a good measure of a chart analog as posted a few months back is the XLF chart...
 

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this is the take the least number of people with you... future... probability pattern.. as already drawn out by the financial sector..

a corresponding retest is 1440...stop cluster clearance.
 

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From a little longer term perspective, I remain short. Bounces are to expected but as long as we don't break recent reaction highs or I don't see a strong buy signal, I see no reason to be long here. That is in terms of outraday trading which is what I engage in. Intraday of course is a different story.:)
 
Quote from Buy1Sell2:

From a little longer term perspective, I remain short. Bounces are to expected but as long as we don't break recent reaction highs or I don't see a strong buy signal, I see no reason to be long here. That is in terms of outraday trading which is what I engage in. Intraday of course is a different story.:)
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If you expect bounces, what is the point of letting the position lose 50,75, 100+ points of profit when you could cover and reshort? The commission excuse is really lame considering a round trip in ES can be had for less that $4. which is not even a tick on the position.
 
Quote from volente_00:

If you expect bounces, what is the point of letting the position lose 50,75, 100+ points of profit when you could cover and reshort?
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One reason is that I don't like to look at the screen all day and thus would not be in position to get the shorts reloaded etc. This is a trade off for time. :)
 
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