ES Journal Archive (2006 - 2008)

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My observation that ES seldom test the same resistance or support area more than twice in a row without reversing or breaking out, is about to come into play here at 1309.75
 
Oh well, I am not seeing anything right now. Was Long, ran into 13.75 resistance and went down, I reversed and it bounced off 1309 and climbing again. I am so used to locking in 1.5-3 points per trade that holding on to a trade for more seems unnatural. Perhaps this is not happening for others today as well? B1S2, Spike, OC, MT, George and others, what's happening?

By the way George asked me to mention that he has contacted me via PM to which I will reply later tonight.
 
Quote from romik:

Oh well, I am not seeing anything right now. Was Long, ran into 13.75 resistance and went down, I reversed and it bounced off 1309 and climbing again. I am so used to locking in 1.5-3 points per trade that holding on to a trade for more seems unnatural. Perhaps this is not happening for others today as well? B1S2, Spike, OC, MT, George and others, what's happening?

By the way George asked me to mention that he has contacted me via PM to which I will reply later tonight.
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short from the opening, still short. Normally i cannot go long for the next 90 minutes, unless something unforseen happens.

Stop at entry, don't want to lose money on it anymore, but give enough space to let the system run as it should.
 
Quote from romik:

Oh well, I am not seeing anything right now. Was Long, ran into 13.75 resistance and went down, I reversed and it bounced off 1309 and climbing again. I am so used to locking in 1.5-3 points per trade that holding on to a trade for more seems unnatural. Perhaps this is not happening for others today as well? B1S2, Spike, OC, MT, George and others, what's happening?

By the way George asked me to mention that he has contacted me via PM to which I will reply later tonight.
More...

Overall short trend, but 12 minute chart is certainly attempting long reversal here.
 
It will be interesting to see where we close today. If no rebound today, then there will certainly be technical weakness again on the bull side especially on a Monday. Not saying that we can't get bounces and perhaps further upside, but it would certainly show weakness. Lots of day left to change that. Of course, as you know, I believe the market to be weak and I look for extended downside at some point.
 
Quote from tatsimon:

B1S2,

Do you still have your short positions? Do you have stops on those?

Thanks
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yes--9 units short--no stops at this time. Position is too small for stops. Rather, I am building the position.
 
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