ES Journal Archive (2006 - 2008)

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Quote from osorico:

Not saying it will or wont happen, but for the last week at least, that's all you seem to see and say. I thought you were a day-trader vol?

Osorico
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Day trader ? What's that ? I trade day and night but stay out of holding contracts during the maintenance period.


I just read what I see in the options. This is what I posted 16 days ago on the reading



Quote from volente_00:

another bounce off of the 20 day ema and the 50% retracement level. Call me crazy but current option interest in spy indicates that we stay around 1420 and then move to ~1450 on cash.
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I'll continue to be a shorter in the 50's on cash until we either break out or fall back to the 30's.


That H and S is now in shorts favor.

http://finance.yahoo.com/q/bc?s=^GSPC&t=5d

My numbers show we fall to ~1435 soon. Which just happens to be the 20 day ema.
 
nasdaq composite gained some volatility when it surpassed 2500, on its march higher when it hit 5000. 2800 seems to be the next target, it implies SP 500 will be in new high territory.
 
japanese data came in weaker then expected, gives room for more upside gains in usd/jpy and nikkei to push up above 17500, BOJ will hold back on increasing rates, secondary to weak economic data.

some say that the economic data is reported weak on purpose to stave off international pressure to increase rates.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVEUUVZ46eZY&refer=home

should bump up futures tonight. And have a positive open tomm. Creating a ideal situation for Fortress IPO pricing.
 
Quote from volente_00:


I'll continue to be a shorter in the 50's on cash until we either break out or fall back to the 30's.
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Much different commentary vs...
Quote from volente_00:
Spy calls starting to heat up and that pattern is setting up for the fall to the 1430's.
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Quote from volente_00:
Strategy runner allows MIT orders. Today may be the last day to get your 1450 cash shorts on before we fall to the 30;s for the wash out.
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Quote from volente_00:
looking for a down wash out to 1430's on cash very soon. You have been warned. When ? Once the generals get done selling calls at the 1450 level.
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Again, not saying it will or won't. Just finding it odd for a trader who doesn't hold overnight (or through the maintenance period) has such bias.

All the best
 
Quote from osorico:

Much different commentary vs...




Again, not saying it will or won't. Just finding it odd for a trader who doesn't hold overnight (or through the maintenance period) has such bias.

All the best
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What's odd about leaning in a direction for the longer term and trading mainly from that same side intraday ?
 
Calling for a range reduction day. Market is getting up to some key levels and the corresponding price action is generally associated with tops. I suggest taking some profits off the table if you have any equity portfolios and wait to put more to work at lower prices. This market can continue to grind up for awhile, but I dont expect the advance to be impulsive.

Key Zones on er today...

R1 825-826.50

R2 831-832

Minor S 812.50-813.50

Definately do not expect R2 to be breached.

Good trading
 
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