ES Journal Archive (2006 - 2008)

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Quote from BoyBrutus:

"Gap up followed by program buying"

How do you distinguish program buying? or is it the 11 o'clock time frame buying that failed? thanks
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I dont know what time zone you trade but 7:00-7:15 pacific time is when programs usually go off. You could see it in the price action, straight up and no pullbacks at all. You can feel when the programs are taking effect by the odometer effect of the prices. Now, when they can't pentrate new his or even approach them, that is a signal for me. Certainly if more buyers came in drove this above 1320 area, I would have been more weary. I've done this trade so many times its automatic for me.
Btw, I'm a short seller and look to exploit these type of set ups.
 
Quote from romik:

nice one, did you go short around 1319?
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1318.50, 1319.50 and added one more time when it started to drop @ 1317.50, covered @ 1314.75. It felt horrible around the 1317.25 area, but once it broke that I could see the selling pick up. Never took heat which was my biggest indicator to stay and try to ride it. Can't seem to ride like you guys yet. Trying!!
 
Quote from sosa1974:

1318.50, 1319.50 and added one more time when it started to drop @ 1317.50, covered @ 1314.75. It felt horrible around the 1317.25 area, but once it broke that I could see the selling pick up. Never took heat which was my biggest indicator to stay and try to ride it. Can't seem to ride like you guys yet. Trying!!
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i can't ride .... my man :D it's B1S2 and Spike who are leading the point gainers wolfpack in this journal
 
This is also mainly a tech rally as NYSE breadth has been declining since the opening while NASDAQ has been as strong as it was. I am gonna hold this short at 1315.50 longer and look for after lunch fizzle...

All economic news point to storng economic growth but also strong inflationary indicators which mean this "pause" bullshit is just that. Fed is going to keep raising rates until they "pause" our growth..
 
Quote from optioncoach:

This is also mainly a tech rally as NYSE breadth has been declining since the opening while NASDAQ has been as strong as it was. I am gonna hold this short at 1315.50 longer and look for after lunch fizzle...

All economic news point to storng economic growth but also strong inflationary indicators which mean this "pause" bullshit is just that. Fed is going to keep raising rates until they "pause" our growth..
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Yes the fed is data dependent and the data is certainly strong. It doesnt show any weakness.
 
Quote from BoyBrutus:

Thnaks Sosa, WTG. What confuses me is days like today when ES does a slow grind down.
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With the ES, one problem for me anyway which prevents me from holding trades too long is the velocity @ which the trades come in the money. One day its 5 minutes, another day its 30 minutes, other days a few hours, even a few days. I guess you have to trust your edge and go with what you know and read for the day.
 
at the moment it is a low probability trade for me, based on a hammer, which is not all that cute on 15 min

EDIT: also I didn't like it bouncing off higher trend line in the last 3-4 periods
 
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