ES Journal Archive (2006 - 2008)

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Quote from mbusch:

Looking to go short here, waiting for confirmation...
Trying to get short at 1538.00, not yet filled...
Okay, filled short at 1538.00, stop 1539.25 (1.25 pts)
Scalp trade. Entry based on:
- two big buy volume spikes of 15K to 20K contracts/minute
- Overbought RSI in 1, 3, 5, and 15-minute charts
- Buying tail and confirmation just prior to entry
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Stopped out at 1539.25 for -1.25 pts :mad:
 
Quote from apex82:

\

stepped in front of the train.... stopped out.
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Well, the train stopped for about a half an hour before taking off again. :-)

I too shorted but bailed after little to no movement after 10 minutes. The tick stayed positive almost the entire time during the pullback, just barely dipping into negative, a sign that the move was just biding time until the buy programs kicked in again.

Still, it was a good trade in terms of risk-reward. 1538 represented resistance from a few days back.
 
Quote from apex82:

\

stepped in front of the train.... stopped out.
More...

Caught that South bound train at the same time you did, but I got off at the next station, 1537.50. I regretted it because it looked like you were going to be right about a bigger drop. Ya just never know. :confused:
 
The 10 year could not get below 5.2%, now we have gone below, retested 5.2 and gone lower so that is fuel for the bulls. Normally these would be irrelevant moves but right now everyone is keying off the bonds.
 
Quote from Buy1Sell2:

I was stopped out on my short position at 1532 for - 13.50 pts. Looking to reenter short. Bias is short right now.
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What levels are you looking at now?
 
Quote from Mins:

I wish i had read that before taking the long at 1537.25, 2 tick target.
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Yeah, as someone else mentioned, never get distracted from your game plan by what you read here.

If you find yourself changing your game plan because of what you read here, stop reading.

If you don't have a game plan and are looking for insight, that's fine, but don't trade with it, test it out and make it your own game plan.

Then go back to square one.

Good trading,

JJ
 
Quote from vertigo3:

10yr yield hitting new 2 day lows
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Bonds broke through key support on June 1st (around 109 to 108 24/32 on the US contract), and that support is now resistance. There's a decent chance that bonds may retest those levels in the coming weeks, but I wouldn't bet on them breaking out above them and would view the retest as a shorting opportunity (in bonds, not interest rates).

I'm going out to run some errands. Hope I don't miss anything crucial.
 
Here is a chart of the june contract with monthly closings. You can draw your own conclusions. One thing that jumps out at me is that 1490.00 level, looks like nothing but air below that. Assuming the bull run is not over yet, anything at or around 1500 looks like a bargain. One of the posters a few weeks ago commented on the large ranges being carved out by the powers that be.

Wave, you never answered yesterday's trivia question?:(
 

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