ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
Hey folks
I hope you're all making good trades..I just wanted to point out that the last little move here, with short entry at 78.25 was a
20 point winner...
I used to leave these on the table....but nowadays, I like to help the floor "cleanup"...and that is what these trades are called there...
I hope someone caught it..
Steve
I hope you're all making good trades..I just wanted to point out that the last little move here, with short entry at 78.25 was a
20 point winner...
I used to leave these on the table....but nowadays, I like to help the floor "cleanup"...and that is what these trades are called there...
I hope someone caught it..
Steve
Steve, I was one of the traders who missed all of that crush.
Came into the cash session with +12pts. Some shorts, some longs thru the day worked more than not. Missed several big swings while at lunch, had three trades go more than +4pts in favor come back out at par.
By 2pm I was up +56pts for the day. By 3pm I had given back -6pts to stand at +50 ES cumulative. Made the decision to quit right there and observe.
Price action gave repeated sell signals at 1483, banged on that short-signal door over and over again. Stuck with the decision to stand aside, and the train rolled south without me.
*
Trading balls to the walls today could have netted more than +100 ES points between the bells. It was there, and then some.
We are very near a powerful short-squeeze rally, probably Monday, especially if they sell hard in the morning. At first the rally will balk, look just like the upside fits these past two days. Then it will catch flames and go parabolic, right into the close.
That day is coming for sure. The following session is what we need heed. If the pending short squeeze gets totally erased next session or two that follow, indexes will cave in much deeper than here. If the squeeze can hold higher ground and stage a classic follow thru session, sideways to upward will be the trek.
Indexes had a triple heart attack this week. The selling was heavy, it was institutional dumping and for valid reasons. Look for all rallies to be sold into, even when the inevitable squeeze sticks for a day.
When that happens, don't be fooled into thinking a bottom is in. Carefully review charts of July, September and October 2002. It's repeating again now. The best predictor of future behavior is past behavior.
A bottom will be in when markets rally hard on huge volume and massive breadth, then do so again within a few sessions later. The first rally may be a sucker bet. It'll be very tradable and I'll be doubling = tripling scales upward as it ignites. But the next day onward, all bets are off. That's when hooves and claws will clash for supremacy thru coming months ahead.
Came into the cash session with +12pts. Some shorts, some longs thru the day worked more than not. Missed several big swings while at lunch, had three trades go more than +4pts in favor come back out at par.
By 2pm I was up +56pts for the day. By 3pm I had given back -6pts to stand at +50 ES cumulative. Made the decision to quit right there and observe.
Price action gave repeated sell signals at 1483, banged on that short-signal door over and over again. Stuck with the decision to stand aside, and the train rolled south without me.
*
Trading balls to the walls today could have netted more than +100 ES points between the bells. It was there, and then some.
We are very near a powerful short-squeeze rally, probably Monday, especially if they sell hard in the morning. At first the rally will balk, look just like the upside fits these past two days. Then it will catch flames and go parabolic, right into the close.
That day is coming for sure. The following session is what we need heed. If the pending short squeeze gets totally erased next session or two that follow, indexes will cave in much deeper than here. If the squeeze can hold higher ground and stage a classic follow thru session, sideways to upward will be the trek.
Indexes had a triple heart attack this week. The selling was heavy, it was institutional dumping and for valid reasons. Look for all rallies to be sold into, even when the inevitable squeeze sticks for a day.
When that happens, don't be fooled into thinking a bottom is in. Carefully review charts of July, September and October 2002. It's repeating again now. The best predictor of future behavior is past behavior.
A bottom will be in when markets rally hard on huge volume and massive breadth, then do so again within a few sessions later. The first rally may be a sucker bet. It'll be very tradable and I'll be doubling = tripling scales upward as it ignites. But the next day onward, all bets are off. That's when hooves and claws will clash for supremacy thru coming months ahead.
Days like today and yesterday you should short as aggressively as you go long when the bull is running. Some days the bear is let loose! There is no other way to make money.Quote from Buy1Sell2:
No trades today. Still on the sidelines. It will be a while now I'm sure before longs present themselves the way I would like. If this keeps up of course, I will begin looking for shorts on rallies etc. --Hope everyone made good money today.
that was an ugly close, i loaded up on puts.
monday will be interesting
monday will be interesting
- Status