ES Journal Archive (2006 - 2008)

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Quote from Pekelo:

I wish somebody would have told us in the morning this was going to be a sideways day (fade every move). Oh snap, I did that! :)

P.S.: Am I the only one who gets these memos about the daily market moves?
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All I saw was a sdd as we made lower highs and lower lows all session long.
 
Short 969.75, stop at 971.50... no immediate target although 963 looks good.

:edit:stopped out tonight... wasn't nearly as clean as a setup as last night.
 
Quote from volente_00:

All I saw was a sdd as we made lower highs and lower lows all session long.
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Although your parallel universe looks interesting, and I would like to visit it someday, in SDD we drop for 90-120 minutes then sideways for 2-3 hours then further drop.

Instead of that, yesterday we were crossing the previous day's closing line like 6-7 times just in the first 2 hours, a classic sideways pattern. Even at 1:20 we were still at zero, then we went a bit down and properly rallied back closing on -2.45, a doji, which is a sideways pattern.(Dow was -5 pts, Nasdaq -3, perfect dojis)

The day's range was a bit more to the downside, between +7 and -10 pts, so I was wrong on that one, although correct in the first 3 hours,because it was more to the upside...
 
Quote from Jahajee:

Tuesday looks like another buy the rumor sell the fact day..
people will soon realize the election makes no difference; next President will take office January 2009 and world is now at the start of a protracted recession.
There could be an initial rally, squeezing the shorts but I expect markets to start a new leg down, as soon as Wednesday, quite possibly Tuesday afternoon.
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Afternoon sell off ... that is an interesting thought.

Not sure how the votes will be counted and if we have something like real-time monitoring of the election results, that will be very interesting! :)
 
I was looking into the option prices on ES for a multi-month play. It turns out that the volty priced in made doing spreads a much lower probability play.

Usually at extreme high VIX selling has an advantage, but what is extreme high/low VIX these days? :confused:
 
Quote from Lawrence Chan:

Afternoon sell off ... that is an interesting thought.

Not sure how the votes will be counted and if we have something like real-time monitoring of the election results, that will be very interesting! :)
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A smart man never goes long with air beneath.
 
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