ES Journal Archive (2006 - 2008)

[saxon22]

Lest's see if the lunch hour will bring surprises. Sometimes this is where the market makes its big move. I hope it is going to go up.

 

[BoyBrutus]

FOMC Minutes from August 7th Federal Reserve Meeting Released 2:00pm on 8/28

 

[volente_00]

rule of 20 blast offf

 

[HolyGrail]

Quote from CaptainObvious:

My counter trend system is a bust on days like today.

Mine too. I'm long now at 145050. It would seem to me we are DUE for a retrace.

 

[saxon22]

I am long 9 cars at 1453.25

 

[HolyGrail]

Quote from saxon22:

I am long 9 cars at 1453.25

We should make it to 54. What happens after that I just don't know.

 

[tomahawk]

Quote from saxon22:

I am long 9 cars at 1453.25

Just curious .. after you endure a relatively large drawdown then it returns to your B/E, do you bail some at/near your basis, or hold out for x number of points?

 

[saxon22]

That would put me + $350. Not a lot but I will take it.

 

[saxon22]

Quote from tomahawk:

Just curious .. after you endure a relatively large drawdown then it returns to your B/E, do you bail some at/near your basis, or hold out for x number of points?

In a market like this I would try to bail out at 1455.25 for 2 pts. On the days when the trend is not so one sided, I would wait for more 3 maybe even 4 points.

 

[tomahawk]

Quote from saxon22:

In a market like this I would try to bail out at 1455.25 for 2 pts. On the days when the trend is not so one sided, I would wait for more 3 maybe even 4 points.

Hmm ... so about a 50% retracement of today's RTH range.

Thanks. Best of luck.