ES Journal Archive (2006 - 2008)

[apex82]

Quote from apex82:

short order moved down to 1543

now short from 1543 with add on with a 2 pt stop

1st target 1538.50

2nd target retest of lows

third target 1526 or so

 

[wave]

Likely place for shorts to continue and cover longs temporarily.
Now have a nice long cushion. Think in percentages.

 

[smilingsynic]

XLF has hit a new high on the day, after having early morning weakness (buying morning weakness after a significant decline is usually a smart move).

The financials have been a drag on the S&P for some time now. WB, for instance, is taking off. JPM has snapped back too.

Those who covered on this morning's weakness might well have caught the bottom (for now, at least).

 

[wave]

Quote from smilingsynic:

XLF has hit a new high on the day, after having early morning weakness (buying morning weakness after a significant decline is usually a smart move).

The financials have been a drag on the S&P for some time now. WB, for instance, is taking off. JPM has snapped back too.

Those who covered on this morning's weakness might well have caught the bottom (for now, at least).

Yes and being long JPM and WB won't be so bad either. Smile yourself all the way to the bank. Good work.

 

[tomahawk]

Quote from smilingsynic:

XLF has hit a new high on the day, after having early morning weakness (buying morning weakness after a significant decline is usually a smart move).

The financials have been a drag on the S&P for some time now. WB, for instance, is taking off. JPM has snapped back too.

Those who covered on this morning's weakness might well have caught the bottom (for now, at least).

XLF failed to fill its gap in the first 2 hours (almost) of trading. This could be a bearish sign for the remainder of the day.

 

[apex82]

Quote from apex82:

now short from 1543 with add on with a 2 pt stop

1st target 1538.50

2nd target retest of lows

third target 1526 or so

Profit 1 hit at 1538.75

partial filled

edit: now fully out profit 1 at 1538.75-1539

 

[apex82]

Quote from apex82:

now short from 1543 with add on with a 2 pt stop

1st target 1538.50

2nd target retest of lows

third target 1526 or so

Profit 1 hit at 1538.75

partial filled

 

[paul_alan]

apex, man. You need to teach me how to trade!! Great stuff.

 

[apex82]

Positon before prof 1 was hit... I loaded up the truck on this one.

 

[smilingsynic]

Quote from tomahawk:

XLF failed to fill its gap in the first 2 hours (almost) of trading. This could be a bearish sign for the remainder of the day.

Or simply range-bound action. Buy at bottom of range (at or below 34.8).

The financials need to get stronger and fill that gap before this correction can be said to be "over". Just my opinion.

That said, I am looking to buy the retest (on large volume as measured on short-term charts).