ES Journal Archive (2006 - 2008)

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Quote from mbusch:

That seems like something of an oxymoron. When they go much further than expected, we call them "strong trends." When they don't, we don't. How else would you measure the "strength" of a trend then by how far its momentum propels it ... and how many S/R zones it slices through on the way?
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Reading the postings most of the people thought the 1502.50 was the ultimate high and signal to go short. So the end of the trend.

I still took a second long (after the 1502.50 high) at 1494.50 and closed it just before my previous posting.
You can see clearly now what i meant with :And often the trend ends when everybody is shaken out of their losing positions.

There might even follow a third wave up., this depends of the strenght of the correction.
 
Quote from vertigo3:

somebody flipped a switch, look at the VIX
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08-01-07 02:25 PM

The market is positioned for the long side now. The VIX will come down hard. In the meantime, they are going to flush out as many as they can and when they are done we will turn up nicely.
 
Short one unit from 1504.25 and a second unt from 1502.50.

Took profits on one unit at 1492.75 for +11.50.

Holding second unit to at least 1488.

Stop loss presently at 1499.00, trailing down.
 
Quote from Thunderdog:

That was a hell of a ride on the wild side, eh?
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Terrible. I'm on tilt after missing 30 handles yesterday from 67.50. If not for BSC I'd be down for the week.
 
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