ES Journal Archive (2006 - 2008)

[OldTrader]

Quote from GTS:

You too can own this trading system for only $5M

Unbelievable. Maybe he'll learn the value of a stop.

OldTrader

 

[jagmot]

Quote from jagmot:

I'm now starting to build a short position in the ES.

Looking for an avg price short at about 1296 if we can get there.

1 contract short at 1284.50
Stop 1315 (for all contracts)

More sells at 1288, 1292, 1296, 1302, 1305, and 1308.

Targets are at 1200
--------------------------------------------------------------------------------

Quick update on this trade.
I've pulled the remaining sells at 1302, 1305, and 1308 and am short 4 contracts at an avg price of 1290.125.
Stop at 1315
Targets are 1264, 1247, 1226, and 1204.
--------------------------------------------------------------------------------

Target 1 hit, moved to 1267.25. 3 contracts short remain.

Stop moved to slightly above BE at 1289.

Moving stop to 1282. We are now starting to hit some oversold levels. I'm going to watch how the next 30 and 60m bars form and probably take the next target (move up target from 1247).

Edit: Covered 2nd contract at 1253.75. 2 contracts short remain.

 

[gwac]

Not this time

$ going up due to the rest of the world going into the shit, stocks going down because of slow world growth expectations.

Quote from BoyBrutus:

09/04/2008 10:44 *DJ Euro Falls To Fresh Seven-Month Low Against Dlr

How strange normally you see a strong ES rally on a USD strength

 

[MandelbrotSet]

Quote from vertigo3:

thanks to everyone who posted their openings for yesterday's RTH.

I am convinced it is not worth it to use anything other than what the price print on the chart is, but after seeing the cme, I was curious as to what other services might have printed.

thanks to all

"Markets are never wrong; opinions are." JL Livermore

1275.00, DTN IQ Feed

Interesting little survey there.

 

[gwac]

They need to get this back above 60 today or the bears are in control. Even with a good payroll number 60 will be hard to get back through tomorrow.

Quote from gwac:

Running stops in a illiquid market ahead of payroll.


The fun begins, I expect a test back to the 60 level today and I expect a close above.

 

[vertigo3]

Great call on the shorts, Jagmont.

unreal

 

[gwac]

Another problem that will arise for large US companies.


Most of these companies will not have hedged their foreign earnings. Very nice when the euro is going up not so nice when it is going down. Watch for that warning next quarter...

 

[OldTrader]

Quote from jagmot:

Moving stop to 1282. We are now starting to hit some oversold levels. I'm going to watch how the next 30 and 60m bars form and probably take the next target (move up target from 1247).

Edit: Covered 2nd contract at 1253.75. 2 contracts short remain.

Nice trade. Great entry.

OldTrader

 

[Lawrence Chan]

On the currency front.

eur/usd is dropping, but usd/jpy is dropping at the same time.

That offset the upside bias for US indices.

 

[gwac]

Jpy increases on any uncertainty, there is neg correlation between the vix and usd/jpy.... Jpy is a carrytrade whenever there is uncertainty or higher risk, carry trades unwind.

Euro and GBP are not and the focus is on their economy and rates versus the US at any given time.


Edit

The moves in the Dollar/US equities/Commodities all make sence if we are going into a world wide slowdown.

OIL IS still to high, 70 to 80 is a better reflection of the world economies.

Quote from Lawrence Chan:

On the currency front.

eur/usd is dropping, but usd/jpy is dropping at the same time.

That offset the upside bias for US indices.