ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

Not today.

The downward drop is being met with more buying-in, not selling-off.

Best Bear trap I've ever seen, wonder if I have time to get some coffee?

Good trading,

JJ
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The buying into volatility is standard institutional practice. They will always have you beat because they have much deeper pockets! Very easy for "them" to turn a loser into a winner. I would assume only a handful on ET can do that.
 
Quote from wave:

The buying into volatility is standard institutional practice. They will always have you beat because they have much deeper pockets! Very easy for "them" to turn a loser into a winner. Very unlikely anyone on ET can do that.
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Sincere thanks for confirming my own intuitive observations and strenuous data analysis ... please see other posts by B1S2 before you start making blanket statements about what traders on ET can or cannot do.

BTW, you missed the last post (not to mention the stuff that I left out).

Good trading,

Jimmy Jam

P.S. you can include (lescor, chauncy_1, austinp, inflector... etc.) in the above mention.
 
Quote from wave:

The buying into volatility is standard institutional practice. They will always have you beat because they have much deeper pockets! Very easy for "them" to turn a loser into a winner. I would assume only a handful on ET can do that.
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Anybody monitor the intraday put/call ratios.esp. dollar-weighted? I havent really found the delayed CBOE data at their site to be that helpful.
 
Just something I have been looking at for awhile as well is the confluence with the etf RTH. It hit max exhaustion and is pulling back. If we get a move to the downside it has a potential of making it down to 98 at a minimum. Obviously nothing is 100%, but these offer high probability, 10 to 1 risk reward trades.
 

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Quote from apex82:

Ok here are ES levels for the day.

ES is trying to work off a higher level bearish wedge.

Critical resistance just above the market at 1458.50-1459.50

second zone at 1461-1461.50.

A break above the first zone would be showing quite some strength and that the bulls are once again in control.

Minor support around fridays low at 1451.50.

next lower level support at 1446.50-1447.50

The main support is at 1442.50-1443.50 I would like to see a move down to here before thinking about buying again.

Market is way overdue for a volatility breakout... lets hope it comes this week. I am completely bearish until the the first resistance zone is taken out. You know I have been waiting for the market to get up to these levels for awhile.

Here is the visual...
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Its very nice to see this market moving again...

Just an update on the levels and strategy for the day.

Market opened up exactly at my strongest resistance zone and made a vertical drop just over 10 points. I did call in the middle of the day that 1453.50 was key and that if it was broken that we would get a move lower than last fridays lows. This did happen after brief corrective rally. The market stopped to the the exact tick of support zone 1. I then stated that 1451.50-1453 is resistance above the market. It tested that zone and is now pulling back. It will be interesting to see how it closes today.

All in all, we got the high of the day and the low of the day.

..Here are the levels with after todays PA....

From...
http://elitetrader.com/vb/attachment.php?s=&postid=1373638

to....

Take a look at er2... looks like some anticipated value buying knowing that the last 3 days of the month are generally bullish. Thats quite the V bottom...
 

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Quote from JimmyJam:

Long YM @ 12645, PS @ 12595

Good trading,

JJ
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This is a late trade, so even though it's in the green, it's nowhere near completition and probably won't get there in the next 1/2 hour or so (unless we get a monster jam-job into the close) :) , so I'll just hold overnight.

Time to pump some petrol, LOL. :D

Good trading, :)

Jimmy Jam
 
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