ES Journal Archive (2006 - 2008)

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Quote from dmartin:

Apex: Overnight low was 1503.75--weren't you stopped out?

DMartin
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I waited for the market to show buying as stated prior therefore I didnt take any positions into the close. I watched the premarket rallly up to 1513 and got in on the pullback with a tight stop for a great risk/reward trade. My stop was 2 points.
 
Quote from dmartin:

Apex: Overnight low was 1503.75--weren't you stopped out?

DMartin
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Nah, he called it right before the blast off.

I would have taken it myself, except I don't trade pre-market.

JJ
 
Quote from wave:

Are you bullish because you are long or long because you are bullish? Emotionalism the downfall of many a trader to be.
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Nope, I bullish because:

1. All of the financial indicies are up (but the Compx isn't leading :( ).
2. The bankers are strong.
3. The TRIN is below 0.85
4. The VXO is dropping (signalling complacency).
5. The larger frame of refrence (in this case, we can say "hourly") is upwards.


JJ
 
Earlier long trailing stop hit at 1517.75

Reentered long 1515.50, 1pt stop at 1514.50
Target HOD or higher

(Apex: typing this from hotel room in Boston. Brought my HP 15.4" 1280x720 notebook plus a 22" wide flat panel display 1600x1050. Makes an acceptable away-from-home trading platform.)
 
So, while still bullish, the market isn't soo bullish anymore ... and to risk the profit I already have in the till, I would need the market to be extremely bullish and I would need price action to make really obvious, consistent stair stepping patterns (either higher or lower).

So for now I'll sit here and watch Jet Li in Fearless.

JJ
 

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newbie question here:

why does everyone seem so certain that this will clear overhead in the 1518-19 area?

not saying everyone is wrong....just not clear on the source of the seeming unanimity...

thanks
 
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