ES Journal Archive (2006 - 2008)

[mbusch]

Quote from wave:

Anyone know what just occurred at 1565.50?

I believe "they" were extending an invitation to those of us who closed out our long positions earlier to get back in.

I must confess: I took it.

 

[wave]

You've got to think like the enemy to beat the enemy.

 

[wave]

Quote from wave:

You've got to think like the enemy to beat the enemy.

Any short stops under 1568.50 likely to get picked off.

 

[apex82]

Quote from wave:

You've got to think like the enemy to beat the enemy.

so what do you think occured? I am not following ya.

 

[wave]

The longs will fear losing profits and supply the enemy with their buy orders and then the shorties with tight stops will fuel the remainder of the breakout move for the enemy to sell out into.

 

[mbusch]

Hark, do I smell the ever-so-faint odor of buy stops above?

L 1563.75
SS 1562.00 (1.75 points)
PT 1569.75 (6 points) minimum

Above 1565.50 I'll raise the SS.

EDIT: Resistance is futile!!!

 

[mbusch]

Who writes this stuff???

Dow Powers Above 14,000, Fueling Optimism Rally Will Last6 min. ago
The Dow Jones Industrial Average continued to trade above 14,000, fueling optimism that the market rally will keep going. "If you're not long, you're hurting," Tom Busby, CEO of DTI Partners, told CNBC.com. "This is very bullish and setting us up for a great October."

 

[blackchip]

Tom Busby?

Quote from mbusch:

Who writes this stuff???

 

[apex82]

here we go long 1562.50 3 tick stop target 1570

stopped out.. rentered 1562.25

stop at 1561 make it or break it time.

 

[mbusch]

Second unit long from 1562.50.
SS on both units now 1561.25.
PT1 1569.75
PT2 1574.75

I will carry these into the Globex if necessary. (Globex has been kind to me lately.)