ES Journal Archive (2006 - 2008)

[MiniDowTrader]

Quote from mbusch:

One more try here...

Long from 1395.50 with 3-tick stop.

If this works, it'll be a great entry. If it doesn't, it's 3 ticks.

yeah, thought that looked like a bear flag on the 3/5m with the 15 bearish.

 

[mbusch]

Quote from MiniDowTrader:

yeah, thought that looked like a bear flag on the 3/5m with the 15 bearish.

I'm not convinced it's anything-ish. Been straight sideways since 8am.

 

[Sponger]

Any position traders here still holding short from loftier levels?

 

[vertigo3]

I've been monitoring BSC, LEH, GS, MER over the past few days

Not one of them went to a new low on the day when the ES did.

wild market.
.

 

[MiniDowTrader]

Quote from mbusch:

I'm not convinced it's anything-ish. Been straight sideways since 8am.

True. But if I'm scalping off a 3m chart then I'm reading the 15m bar to bar. In my world it looked bearish.

 

[JimmyJam]

.

 

[mbusch]

Quote from MiniDowTrader:

True. But if I'm scalping off a 3m chart then I'm reading the 15m bar to bar. In my world it looked bearish.

Yeah, I think I remarked earlier that this looked like a scalper's market. I'm a little out of practice, but I must just dust off my scalping hat and try to grab a few points here and there until the ES decides where it really wants to go.

My price channel on the daily chart shows potential for only 5 points down from here (today) but up to 85 points up. If I was comfortable with >5-point stop (which I'm not), I'd probably go long on the next pullback to 1390 just based on probabilities. But since 2 points is about my maximum stop (and I prefer 3 to 6 ticks), it just wouldn't be prudent!

 

[frugi]

Long YM 12690. 30 point stop

 

[Spectre2007]

1406-1386, theres your 20 points.

 

[Jaxon]

Quote from Spectre2007:

watch for a 60 minute downdraft...of 20 points or so.

You mean like this?

11:12 am 1406.75

12:01 pm 1386.50


(edit: cross posted) at least I am paying attention.