ES Journal Archive (2006 - 2008)

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Quote from saliva:

By all means, considering that there are only 20 points to the downside before we cross into the 12 territory. But if the past is of any indication for the future, I expect Bernanke & Co. to make another emergency rate cut as we retest the January low. Let's not forget that we're in an election year.

I had 1300 in mind as today's low.
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The move down to 1200 and under is going to make or break this country. It is major bull position territory, if the bounce fails we are going at least 300 points lower from 1200.
 
Quote from apex82:

stepping in here at 1315 for a position trade.... looking for this to be the buy of the year.... stop will be placed at 1308.75

1st target in the 1430 area...

If wrong will take my loss immediately..

cant pass up a 20:1 RR
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Oh boy glad to see you today!

30m still looking OK ImO, lower frames also looking bouncy, though not perfect.

BTW your stop is bang on 24hr S2
 
i cant hold onto this anymore im closing out here at BE My instincts are to strong saying to close out.

I will wait for more confirmation before renetering ie breaking above 1320 without taking out the lows.
 
Quote from avarus:

The move down to 1200 and under is going to make or break this country. It is major bull position territory, if the bounce fails we are going at least 300 points lower from 1200.
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That may well be, hence my prediction that the Fed will preempt with another emergency rate cut. But I don't think 1200 will be the seismic fault line that will push this country into the point-of-no-return. That would be more like 1000 landmark. Plus, the world economy is intricately connected now than ever before. We can no longer function in isolation. On that note, I believe it's when the European central bank, which has so far stubbornly resisted cutting rates, starts their own aggressive rate-cut campaigh will we see the bottom of all this mess.

BTW I'm still sticking with my projection that we'll print 1300 as the LOD (1302 to be exact), or so I hope. :D
 
At this point, I see no reason to make any prognostications regarding a bottom.

EDIT: A measured move down points to 1260. If we get closer to that, then it might be time.
 
Quote from smilingsynic:

At this point, I see no reason to make any prognostications regarding a bottom.
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It's fair to say as a daytrader that it really doesn't make any difference whether this market goes up or down. But experience has also taught me that having a correct macro picture does help.
 
Long 1313.50 off 5, 15, 3, 1 & just maybe 30 will bend eventually, c'mon ppt!

Scaled out +3 Long live PPT! You bastards are late , but quite welcome :)
 
Just getting whipsawed to death in currencies today. It's extremely frustrating. I"m about 1/2 way done with a bottle of Pinot Griogio and I'm about to swing into profits today.


That was a great DB on the ES..
 
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