ES Journal Archive (2006 - 2008)

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historically, does the market have a tendency to close up or down before a holiday, or in particular President's day. I understand there is a closing ralley until 2:25 then everyone is gone,,,,any opinions?
 
Quote from brightstone:

historically, does the market have a tendency to close up or down before a holiday, or in particular President's day. I understand there is a closing ralley until 2:25 then everyone is gone,,,,any opinions?
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sorry meant 3:25 est,
 
Quote from BoyBrutus:

With regards to options expiration -

According to Stock Trader's Almanac, the Friday before President's Day is usually weak (the S&P 500 has been up only 8 times in the last 31 years).
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All longs closed for the three day weekend. Will reopen next week if I feel it is warranted. Average long 1455.9375. Longs closed today at the close 1459.00. Roughly 3 pts per contract.:)
 
Quote from porge:

nq...the real market....beautiful easy points all day long:cool:
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actually, for today's action it was all in the ER, then ES, NQ, then YM was the most putzy.

P.S. Unless you consider 3 NQ pts a good trade, then today was a moveable feast.
 

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... with a 6 pt Total Range, you could get, what, a 3pt max of $30 per contract.

I guess that works if you're trading 20 contracts or more? :confused:

JJ

Edit: Just looked it up, at $20 per pt you can make that $60 per contract instead of $30. Still less than I'll accept from an ES trade, but it can be done, the trick is to take every tick you can get and build your contract increment asymetrically.

Good trading
 

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