ES Journal Archive (2006 - 2008)

[Spooz Top]

Geez ,what a leg dowm...someone must have panicked in that spooz pit.
Sosa,what was that local pressure or paper pressure.......or Soros with 800 to sell??????

 

[sosa1974]

Quote from romik:

will hold short till 1261.50 and cover there [/QUOTS

Nice. S&P has almost given up entire gain for the year. Only up 9 points on the cash index

 

[sosa1974]

Quote from Spooz Top:

Geez ,what a leg dowm...someone must have panicked in that spooz pit.
Sosa,what was that local pressure or paper pressure.......or Soros with 800 to sell??????

Man its so much paper being sold, it was unreal. The 200 day on Spy is 125.87, the low for today 125.85. The Selling maybe done here as I would think maybe the mutuals might come in and be ready to buy.

 

[Spooz Top]

Yup.....locals looking to fade the paper, snatching up all the paper they can so they can rip ,like they just did.LOL

Damn,been doing this since `96 & this reminds me of the good old days......wild times indeed.

 

[monee]

ES has changed last few days vs, last 6 months.

Need real wide stops for my style in this environment .

Stops need to be too wide for me.

Gave back 10 % of 2006 gains in last 2 sessions.

Going to chill for awhile.

Haven't seen 1 of those spikes like@ 11:10 in a while.

Not to say you can't make money in this environment it is just not my style.

Have to keep remembering Reminiscences quote of When I couldn't play according to my system which was based on study and experience, I went in and I gambled.

Guess thats the mkts job to smack you when you deserve it.

 

[romik]

another short off trend line 1265.75

20 DMA nice angle

 

[Buy1Sell2]

Quote from sosa1974:

Brut, its a combination of things actually. When pit noise picks up it can go either way, so its no gospel. I was actually taking a nap when I heard volume pick up. Then the magic words "paper to sell" I looked at my time and sales and it was painting blood red. Yes the louder the better normally ( as long as you are on the right side of it) After the bell I heard reports there were rumors on the Floor that Fed may rate 50 basis points in June. This most likely caused the action we saw to happen so suddenly. I've been trading for 2.5 years. Its all come together in the last year or so. It was no easy task though. Good luck.

Sosa, I am not familiar with pit noise as I have always done long term trading. Are you saying that you actually heard a voice cry out --"paper to sell" ?

 

[Buy1Sell2]

Quote from spike500:

went short 1269.50 about 25 minutes ago
hourly short was confirmed 9minutes before entry

nice entry --very nice indeed! Mine by the way was only 1265.75. Stop is above high of day.

 

[romik]

Quote from Buy1Sell2:

Sosa, I am not familiar with pit noise as I have always done long term trading. Are you saying that you actually heard a voice cry out --"paper to sell" ?

if you subscribe to a pit noise, it would be difficult to hear paper to sell remarks, as it is the broadcasters that make those type of announcements looking onto the traders in the pit. If you want that info you have to subscribe to a different package. B1S2 you can sign-up for a 3 day trial and see for yourself. In my case the noise started getting on my nerves and I couldn't listen to it all the time.

 

[sosa1974]

Quote from Buy1Sell2:

Sosa, I am not familiar with pit noise as I have always done long term trading. Are you saying that you actually heard a voice cry out --"paper to sell" ?

Oh yes its very clear "Paper to Sell" !! "Big paper seller" and trust me the noise level was off the hinges. Its music to my ears. I use the s&p pit feed, its a nice tool to have in your aresenal for short term positions.