ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from opt789:

I just figured if we all ignored him he would eventually go away.

JSSPMK,
Didn't you say you have a negative outlook on the ES on longer term charts? Since the ES and USD/JPY have been basically trading in directional unanimity, it would seem that you have diametrically opposed views. Thanks for what you contribute, by the way.
More...

I did ask re correlation, but nobody answered, so I checked. Seems that you are not quite right, it's quite the opposite actually, have a look on monthly chart below. Let's not forget that low USD suits US export & export is main backbone of a strong economical growth. Looking at below chart only confirms my opinion of expecting US stock market to decline & USD/JPY to bounce & possibly reverse, well at least to 116 :)

TY Opt!


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1807153>
 

Attachments

Expecting the ES to hold strong at the 1364.50-1367.50 zone and make a move to at least up to the 1383-1387 area, which would roughly create a swing of about 20pts.

Currently bidding 1366.25 MIT, stop at -4.00pts, first target 1382.25 (+16.00pts), then 1386.25 (+20.00pts).
 
You don't have to be a born-again idiot to know that this Ambac shenanigan is sheer garbage that the banks made up to delay their own inevitable time bomb. What's the current consensus and how many more rallies can we realistically suck out of all this?
 
Quote from RsX:

Expecting the ES to hold strong at the 1364.50-1367.50 zone and make a move to at least up to the 1383-1387 area, which would roughly create a swing of about 20pts.

Currently bidding 1366.25 MIT, stop at -4.00pts, first target 1382.25 (+16.00pts), then 1386.25 (+20.00pts).
More...

Low-tick at 1367.00 and now up almost 7pts from that level.. Well, missed that fill by 3 ticks, but I'm not gonna chase the market this early in the globex session, many tricky moves may still be manufactured.. Truly a strong swing for this time of the day and it might never look back, but I'll stick with my plan and wait for reasonable setups that confirm my analysis. Cancelling all orders for now.
 
JSSPMK, I am not someone who bases current investment decisions on what happened 20 years ago. If you look at the past 12 months they are very well correlated, and I expect them to stay that way for at least the next several months.
 

Attachments

jss, i dont se the us export declining soon with the ags going thru the roof,and with the lack of interest in us bond purchases i dont see the value of the dollar rallying soon, i know zip about currencies, jm 2 cents
 
Market has re-entered the 1364.50-1367.50 area.. watching the 2min and 5min price action and looking for signals.

EDIT long 1367.25, stop 1364.25 (-3.00pts).

EDIT on 2nd thought, to have the stop exactly at the pivot is a bad idea.. so I'm expanding it on this one.. stop will be at 1363.50
 
opt

They are correlated right now because of the risk factor. When stocks get bashed, risk adversion sets in and JPY carry trade gets unwound.
 
Status
Not open for further replies.
Back
Top