ES Journal Archive (2006 - 2008)

[smilingsynic]

Quote from mbusch:

Late start, missed the big down move.

Started trading about 10:45, been catching some decent scalps for +9 points total while waiting for homerun long.

Presently long from 1472.75 (+4 unrealized) with breakeven stop. Dunno whether this is the turning point for the homerun long, so keeping stops tight and trailing them up aggressively two ticks below each sucessive reaction low. When the upthrust comes, I don't want to miss the train.

EDIT: This one's looking pretty good Last paint 1481.25 for +8.5 unrealized.

Initial profit target is 1487 for +14. (Pivot and fib both just abofe 1487.)

If the low for the day is yet to come, the close will be ugly.

The market retested the early morning low, after testing the overnight high (low 1490's). Long limit at 72.25. If this low does not hold, next stop=1461 zone (Fed panic low).

 

[mbusch]

Quote from mbusch:

Late start, missed the big down move.

Started trading about 10:45, been catching some decent scalps for +9 points total while waiting for homerun long.

Presently long from 1472.75 (+4 unrealized) with breakeven stop. Dunno whether this is the turning point for the homerun long, so keeping stops tight and trailing them up aggressively two ticks below each sucessive reaction low. When the upthrust comes, I don't want to miss the train.

EDIT: This one's looking pretty good Last paint 1481.25 for +8.5 unrealized.

Initial profit target is 1487 for +14. (Pivot and fib both just abofe 1487.)

EDIT: Just added to long position from 1479.25 with 1.5-point stop.

EDIT: Just closed out both longs at 1481.25 for +9 and +2. I'm seing bearish divergence in both RSI and MACD histogram. Now flat, will stay on sidelines until things look more promising.

EDIT: Wow, was that ever a good idea!

Oops, I screwed up. Meant to close both positions at 81.25 but accidentally closed only add-on position. Initial long still running.

I don't like being long here, Out at 1475.75 for +3. That buttonology mistake cost me 6 points, dammit. Lesson learned.

 

[smilingsynic]

Quote from smilingsynic:

If the low for the day is yet to come, the close will be ugly.

The market retested the early morning low, after testing the overnight high (low 1490's). Long limit at 72.25. If this low does not hold, next stop=1461 zone (Fed panic low).

Out at 76.75 and 77.50. Didn't even get to 85 resistance. Not particularly bullish action.

 

[blackchip]

Everyone else must know what this graph represents - am I missing something?

Quote from Spectre2007:

this is whats killed most everyone. Their models broke, unhinging of them revealed this.

 

[pkts]

Quote from blackchip:

Everyone else must know what this graph represents - am I missing something?

Not a clue...must be some dumbass lemming quant model.

 

[atticus]

77.50 could be good for a move to 87.50. Not taking it, FWIW. Banks breaking down further. Ugly.

 

[BoyBrutus]

Spec what's the near term implications?

 

[Spectre2007]

Quote from BoyBrutus:

Spec what's the near term implications?

like any crisis times, adding liquidity could mark a intermediate turn.

 

[una11]

Lots of people leaning on the market here...ramp higher in the cards???

 

[smilingsynic]

Quote from una11:

Lots of people leaning on the market here...ramp higher in the cards???

Looking for capitulation and reversal. No more selling short today for me.

News is worse than it was when ES hit 1432.75, imo. Higher low, worse news...