ES Journal Archive (2006 - 2008)

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I love being on the right side of a manipulated market. Even a blind squirrel knew that run-up was bogus. Just ladder up a series of shorts, and wait to get taken out. It's like watching a roller coaster hit the apex and then scream down the back side. My best day in months.
 
Quote from wareco:

I love being on the right side of a manipulated market. Even a blind squirrel knew that run-up was bogus. Just ladder up a series of shorts, and wait to get taken out. It's like watching a roller coaster hit the apex and then scream down the back side. My best day in months.
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Yea. Yesterday was good too, but that opening gap was misleading as to what was really available for trade during RTH. Today, the whole range is ours! bwahaha. :D

Osorico :D
 
Can someone here please fill me in on what happened this afternoon - I had to leave for the day and was out of touch from 1:00 pm EST on. It looks like the stock indexes fell off a cliff in the last hour, anyone care to give their opinions......
 
Quote from Sponger:

Can someone here please fill me in on what happened this afternoon - I had to leave for the day and was out of touch from 1:00 pm EST on. It looks like the stock indexes fell off a cliff in the last hour, anyone care to give their opinions......
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Bonds are the headline "reason".
 
Quote from osorico:

It does look that way doesn't it? Takes more than a day or 2 to break the mentality. Meanwhile, some of us have been taking shortside only, leaving countermoves to the gurus, and not posting. :D

Closing in on a personal best
Osorico :)
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There is a lot of money to be made in what you just said.
 
Question # 1

Anyone short all day on this action - either out at EOD or still holding overnight? (Osorico, you were one of them, congrats.)

Question # 2

Are we now in a downtrend - or is this the crouch down before the next jump up?

Just looking for some discussion and debate here.....
 
Quote from Sponger:

Question # 1

Anyone short all day on this action - either out at EOD or still holding overnight? (Osorico, you were one of them, congrats.)

Question # 2

Are we now in a downtrend - or is this the crouch down before the next jump up?

Just looking for some discussion and debate here.....
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Thanks sponger, but keep it in perspective... Im a scalper. I did not hold a single position for more than 45 minutes today. I also took fewer trades (all short however) than normal, but nearly all yielded more than 6x my average per trade. A combination of volatility and trend day. And yes, I am flat EOD. I hold cash only. :D


As for "are we in a downtrend?" My daily proprietary cycle says yes, but only for a couple more days. A retest of highs is possible just beyond. If a retest fails or fails to materialize, I would say yes. Unfortunately it will take some time to fully realize becasue of the worldwide synchronization of markets. That needs to de-couple to fully realize a US bear, imo.

As I posted earlier, the headline "reason" for todays selloff is Bonds. In reality I think it was the ECB rate hike yesterday. The street gurus at large were using Euro strength as "reason" for the US bull market. Although the hike was one of the most telegraphed moves known to man, the reality of things seemed to set in. jmho

Osorico
 
Osorico - thanks for your input, nice analysis. You and Apex82 seem to be on the same page as far as cycle analysis.

Tomorrow should be an extremely interesting day - lets see if the night trading brings any big players/moves.

Looking forward to your S/R level postings all.........
 
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