ES Journal Archive (2006 - 2008)

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Quote from vertigo3:

another spot-on observation (with precise description) from smilingsynic.
thanks for posting.
I understand that you have established a multiple contract position, for something other than a day trade, If you don't mind me asking, what would you be using as a stop-loss on the position?
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i would like to know why we're not thinking of the 35-37 area as a more likely spot for a turnaround
 
Quote from vertigo3:

another spot-on observation (with precise description) from smilingsynic.
thanks for posting.
I understand that you have established a multiple contract position, for something other than a day trade, If you don't mind me asking, what would you be using as a stop-loss on the position?
More...

thanks for the premature congrats--I'll try to get to this later, when I have more time. Who knows--I might end up wrong on this.

SHort answer: longer-term positions need time and space to move. 1320 by Labor day, I said. That is six weeks away.

If ES hits 1220, I would look to exit at next rally. Close stops are not for longer-term positions.

Longerterm positions are put on in smaller size than intraday because they entail greater risk.
 
just saw an update, Paulsen WILL be speaking at 2:30.

Does anyone out there think he is going to paint a dark bearish picture. I doubt that, He's a cheerleader. Rah Rah Rah.(read up up up)
:p
 
Quote from tortoise:

i would like to know why we're not thinking of the 35-37 area as a more likely spot for a turnaround
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That is what I have also. 35.50 to be exact.
 
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