ES Journal Archive (2006 - 2008)

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I agree with steve46,
in such a thinkly traded market it does not take many like minded entities to shove prics around. the sideways price action since 13:45 must have created a lot of buy-stop (to cover) shorts just above the 1530.25 level.
There is still a price gap open from 1533-1535.
This market is pretty dull, and you know the old saying about dull markets.
 
Quote from tommymoose:

I'm short with you guys here. I patiently waited for this zone haha... Short at 1529.50 w/ stop at 1530.50. Beautiful selling tail w/ very high volume on that high bar aswell.
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Covered at 1529... bummer... I'd hold overnight but the stop is too close, I'm pretty sure it'd get run over. Tomorrows another day.
 
Quote from steve46:

I think chances are good that they mark it up into the close.
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If they're going to do that, they'd better hurry.

I'm gritting my teeth and holding on to my shorts here. I raised my stop one tick to 1530.75. If I don't get stopped out before the close, I'll hold my position into the Globex, where I think there's a decent chance we may drift down overnight. Filling today's opening gap will take a 13-point move to the downside from here.

Then again, "they" may very well bust my stops at the close for a loss of 1.25 points. Accepting limited losses is part of the game here. If you're going to try for home runs, you're bound to swing and miss some.
 
Quote from mbusch:

If they're going to do that, they'd better hurry.

I'm gritting my teeth and holding on to my shorts here. I raised my stop one tick to 1530.75. If I don't get stopped out before the close, I'll hold my position into the Globex, where I think there's a decent chance we may drift down overnight. Filling today's opening gap will take a 13-point move to the downside from here.

Then again, "they" may very well bust my stops at the close for a loss of 1.25 points. Accepting limited losses is part of the game here. If you're going to try for home runs, you're bound to swing and miss some.
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Sorry mb, all the people expecting the big drop at or below 1530 (including myself) didn't get it and had to close out the day and hit your stop. To avoid this happening to me in the last hour, I put a stop so that I at least get a little bit (got +1 point). If I feel strongly about a trade, I'll hold overnight and not have a stop but will also use a half size position.

Tomorrow, I will be looking at shorts in the 1540 area or longs in the 1515 area and just let the market come to me.
 
Well, "they" did it...in the very last minute of RTH.

With 1530.25 voilated, we're very likely to move up to 1540, where there's a very strong resistance zone and probably a good opportunity to go short.
 
Quote from jagmot:

...will be looking at shorts in the 1540 area or longs in the 1515 area and just let the market come to me.
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Me, too.

"Swung on a missed...strike one!"
 
Quote from vertigo3:

I agree with steve46,
in such a thinkly traded market it does not take many like minded entities to shove prics around. the sideways price action since 13:45 must have created a lot of buy-stop (to cover) shorts just above the 1530.25 level.
There is still a price gap open from 1533-1535.
This market is pretty dull, and you know the old saying about dull markets.
More...

Yes: you never short a dull market, and it is best not to intraday trade one either. Better to go outside to enjoy the summer!
 
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