ES Journal Archive (2006 - 2008)

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Bloody hands trying to catch a falling knife :( and my long bias kept me from shorting early on :mad:


That being said, if we open with a gap up tomorrow (+15 - +25 range let's say), what are the odds that the gap will be closed on the same day? I'd think it's a no-brainer to short it, but now that we've fallen so much, I don't want to get wedgie'd in a monstruous bear rally.

Also, due to op ex, I don't see how they can just dump this much further. Maybe a mad drop for a madder rally?
 
Quote from JSSPMK:

Who thinks retail trading might come to an end soon? I mean abolished.
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Abolished? No way.
Raising the fence around the TRADING playground, extremely likely. It's already happening in futures.

The new improved rules, regs, and laws will begin when/if/as CME is approved for clearing OTC derivatives.

JMHO
Osorico [ Anyone have a grandfather in the futures business? ]

EDIT: It took me a few minutes to find, but along these lines, here's a previous article with some examples of what rules/regs/laws will be coming our way.
http://www.suntimes.com/business/roeder/1243213,curious-102608.article
 
Up a bear's ass to it's ears... Just trying to add some colorful metaphors. Will stick around till 2:00 am to see if overseas has an intervention convention going on, suspecting so.


Quote from Decel:

I don't get this part, is the phrase bull or bear?
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Quote from Buy1Sell2:

This frame and the next will show the first charts that I look at everyday. I always look from the larger frame downward and I never trade against the larger frames. If someone is daytrading the 5 minute chart, they would consider the 30 and the 240 as their larger frame charts. If one is trading the daily as I do for position trading, one considers the weekly and the monthly for their basis. What this means is that if you miss a setup on the long frames that I trade, you must be patient for the next set up and try not to force the trade by shorting the bottom or buying the top. It is rather unlikely that a setup will be missed though when you trade long frames like myself because you have quite a bit of time in order to consider all the variables and risk. I believe I have now accomplished what I set out to do in this journal which was to demonstrate the negative aspects of daytrading. ie stops too close, stops too far away, chasing the market, indecision etc etc etc. I will continue to post, but the knowledge one will have gained here by watching me demonstrating failure should be very helpful. Good trading all--:)
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The weekly is a good idea.

I put my end of 2007 estimate for 2008 below yours.

By February it will be another world.

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Quote from jack hershey:

The weekly is a good idea.

I put my end of 2007 estimate for 2008 below yours.

By February it will be another world.
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... a guy was lamenting today on the radio: "a system in which 2 idiots' opinion counts more than 1 genius' opinion is doomed" ... :)
 
Quote from charts:

... a guy was lamenting today on the radio: "a system in which 2 idiots' opinion counts more than 1 genius' opinion is doomed" ... :)
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By your own admission, it's very possible then I share the ET's Idiot of the year with Jack. Thanks! :D :mad:

Anyway, I'll see you when we reach 500. As I've written above, that target should be reached within the first 3 months of Obama's presidency. :eek:
 
Quote from saliva:

By your own admission, it's very possible then I share the ET's Idiot of the year with Jack. Thanks! :D :mad:

Anyway, I'll see you when we reach 500. As I've written above, that target should be reached within the first 3 months of Obama's presidency. :eek:
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:confused: ... I've read only JH's post, and by no means I believe that he's an idiot ... I guess the quote applies to some aspects of ... democracy

... I hope you and Jack are wrong about the market, although I have no arguments ... :)
 
500 as in 500-515 or as in "anywhere in the 500 range" (like 575)?

I don't deny the very possible number, just didn't expect (or bet) a rather direct drop.

Guess Santa's not here this year?
 
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