ES Journal Archive (2006 - 2008)

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Quote from optionpro007:

Apex could you elaborate on this statement. (reasons why)

Thanks =)
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I guess I was a bit vague... by massive decline I meant a 15-20 point drop that would provide a nice buying oppurtunity for one more leg up to test the feb 26th gap in the 1464-1465 area. However, any confirmed breakout below my second buy zone would prevent serious damage to the bulls case and I would expect a move to retest the lows and possibly move lower. Watch for signs of a top just like on friday when they popped it higher running the stops, getting the whole world long and reversed it hard. We could have easily gone much lower on friday due to this setup.

Tomorrow I will be looking to get short on any sort of topping activity as stated earlier. I also will be placing a freight train order at 1455-1456 with a 1.5 stop looking for minimum 15 points profit. If we due get the decline tomorrow then I will be mainly positioning myself at the second buy zone to go long. The first buy zone will be dabs and reduced size just to get some exposure in case the bulls are for real.


ER2 Resistance at 822-823 I will be shorting this area as well...

Good Trading
-Apex
 

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Does anyone have a weekly prediction and a monthly prediction?

I'm thinking maybe a good method would be to just stick with options swing trading....
maybe all these comissions and not to mention spread is eating up a lot of profit gain.
 
Quote from z32000:

Does anyone have a weekly prediction and a monthly prediction?

I'm thinking maybe a good method would be to just stick with options swing trading....
maybe all these comissions and not to mention spread is eating up a lot of profit gain.
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Carpe Diem





If you want a simple but effective option strategy, put an ATM SPY straddle on right before there is an FOMC announcement.
 
Quote from z32000:

Does anyone have a weekly prediction and a monthly prediction?

I'm thinking maybe a good method would be to just stick with options swing trading....
maybe all these comissions and not to mention spread is eating up a lot of profit gain.
More...

It's not that straightforward, even if you are right on the direction of the underlying, you might still end up at a loss or breakeven.
 
Quote from volente_00:

Carpe Diem





If you want a simple but effective option strategy, put an ATM SPY straddle on right before there is an FOMC announcement.
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I've always thought about using this strategy.... I don't see how it wouldn't work all the time. I guess my next question would be, right before the FOMC announcement is made... do they normally jack up option spreads on SPY due to the "potential" volatility?
 
still holding on to trade from Friday .... looking exit at 43.00
then will review the market for next trade

... from my "work" on the market-- today is a critical day if we are to resume a move down for a daily target @ 1367-68
 
Quote from '81packer:

short @47.00
target@43.00
stop on close above 49.25

let's see ...
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this trade?

that's a lot of risk for a little profit.

IF you get 2pts, i'd go to breakeven+, it might not make it to 1443 before going to 1449.

jj
 
Quote from Keeper:

Long @ 1446
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Just out of curiousity Keeper, when a member says "Long @ 1446".... does that mean, you are not in the market until it hit's 1446 and then from this point on you go long? or does it mean, you are already in the market until it reaches 1446?
 
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