ES Journal Archive (2006 - 2008)

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complete flush, no wonder USD is ever so strong now. I find it amazing how technical market oscillations are, I posted a chart of DAX months ago, there was a whopping divergence on monthly chart and I did see 4000 as a retrace zone, same method was applied as I use intraday. It was near 8000 at the time, now it is at 4000. Coincidence? I don't believe that it is.



Quote from BoyBrutus:

Once upon a time, in a kingdom far away, a beautiful princess was born ... a princess destined by a terrible curse to prick her finger on the spindle of a spinning wheel and become Sleeping Beauty.

Then she awoke

OMG

ES limit down

10/24/2008 05:46 *DJ France's CAC-40 -10.2% At 2974.95 At 0946GMT

Dax -10%


It must be a bad dream :D
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Global Stock Indexes at 05:45 EDT/0945 GMT


hhhhttp://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={d62044fc-1d4d-43ee-86da-a007a16475cb}
 
Won't being limit down just exacerbate the problem? I've never seen it happen premarket like this? So is the only way to hedge any long pos it to sell euro dollar futures?
 
Let's see if we get the limit down day needed to clear out the retail buying.

Still not sure where the bottom is ... :confused:

p.s. As mentioned various times, once we break below 910, I do not have a low target at all ... a very rare event.
 
Quote from riskaddict:

Won't being limit down just exacerbate the problem? I've never seen it happen premarket like this? So is the only way to hedge any long pos it to sell euro dollar futures?
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When funds liquidate into the market aggressively, as seen in large size orders selling through out the day, as oppose to just the 1st and last hour, someone must have bought the other side.

In LTCM crisis, the retail traders won - they picked the bottom and Greenspan saved the day. That's because it was a sinlge point problem where a solution existed.

This time, the retail traders lost - they do not understand how bad the situation really is.

Selling Euro Dollar future if not properly capitalized can burn you both ways in this volatile period.
 
remember my dream? Maybe it's about to nose dive & find suport near 800 mark, I had a quick glance over monthly periods of various indexes & some do point to end of divergences.


Quote from Lawrence Chan:

Let's see if we get the limit down day needed to clear out the retail buying.

Still not sure where the bottom is ... :confused:

p.s. As mentioned various times, once we break below 910, I do not have a low target at all ... a very rare event.
More...
 
Quote from JSSPMK:

remember my dream? Maybe it's about to nose dive & find suport near 800 mark, I had a quick glance over monthly periods of various indexes & some do point to end of divergences.
More...

If it is a measured move, then 820 is the first viable target.
But in panic mode, I suspect that will not hold.

So limit down level below 800, especially the 50% level from all time high should provide temporary support.
 
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