ES Journal Archive (2006 - 2008)

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Quote from apex82:

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The other side is where I am licking my chops... a break of yesterdays low would be a clear sign of weakness and look for pros to start flooding the gates. If this happens definately look to put on a short position in the morning and hold for a larger target.. If we break yesterdays low I will be selling call spreads like crazy above the 1400 pivot. Tight risk for large reward is how the short side will play out if they can take it lower. I will be looking for 1300 as a minimum and look to carry runners for new lows.
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closing out a quarter of call spreads here into the panic... getting a bit close to the 78.6...

will look to re short more back up in the 1360 area.
 
these are the markets. sometimes they make sense to me and
sometimes it seems like anything can happen, but more often than not, if RTH opens below S2, slow lazy bear flag can unfold mid-day,
that bear flag produces another drop.

today ES RTH open was at/below S2

open was 1353.50,

S2 based on 24hr is 52.25.

S2 based on RTH is 54.75
 
Long ES 1343.75, stop 1.5 pt.
Long ER2 693.40. stop 1.3 pt.

Edit 1: Stopped out on both.

Edit 2: Re-entrered
Long ES 1343.25
Long ER2 692.70
same stops

Edit 3: Stopped again.
 
Quote from smilingsynic:

Last swing high was 56 (around 9:15 EST--premarket), so wouldn't that make it 46?

Anyway, long 46.50; looking for 50 points within a week.
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Looking to add around 40, if it gets there. I am building a position, not intraday trading here.

If the midday bounce does not impress me, I will bail and look to reenter later.

Please note; I do not suggest averaging down while trading high leverage intraday. That approach probably claims the most casualties in this business.
 
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