ES Journal Archive (2006 - 2008)

[jagmot]

Quote from smilingsynic:

For those who are short (have just short or have shorted close to current levels): what is your reasoning here? All I see are new highs followed by low volume pullbacks, suggestive of bullish action (at least today).

I view 1492 (futures) as a resistance point, and 1490-1500 as a resistance zone. If we can close above those levels my opinion will change. Good risk/reward trades.

Edit: look at daily 6/8, 6/28. Now needs to close above level of 8/8 close.

 

[pkts]

Quote from smilingsynic:

For those who are short (have just short or have shorted close to current levels): what is your reasoning here? All I see are new highs followed by low volume pullbacks, suggestive of bullish action (at least today).

My reasoning WAS that the Fed cut news would be priced in by now and that, after the barf fest that was early to mid Aug, longs would be ecstatic to sell out on this bounce.

If the situation was so bad two weeks ago for these grown men to be whining and crying like two year olds and begging for a rate cut....

Clearly I lost my objectivity somewhere along the path. So, I'm flat now.

 

[BigBubba]

could it be..

-61.8% retracement from lows in mid-august

-confluence w/ short-term trend-line

-upper limit of median line

do i win?

 

[JimmyJam]

Quote from smilingsynic:

For those who are short (have just short or have shorted close to current levels): what is your reasoning here? All I see are new highs followed by low volume pullbacks, suggestive of bullish action (at least today).

Initial price action was bearish, firming up early in the morning, and then turning extremely bullish once previous resistance was broken (now providing support).

If 1484.00 can be broken during the afternoon session, those who are holding shorts can realize their profit.

From the initial run the market has delivered about 30pts ES to the Bulls, at some point these profits will be taken.

Good trading,

JJ

 

[HolyGrail]

low risk long at 88.50 close stop

 

[smilingsynic]

Quote from smilingsynic:

For those who are short (have just short or have shorted close to current levels): what is your reasoning here? All I see are new highs followed by low volume pullbacks, suggestive of bullish action (at least today).

Thanks for those who replied.

 

[brightstone]

A little resistance coming up.
For those who still use P&F

 

[Spooz Top]

was willing to pay up to find out on that one.....can`t pass up on a triple confirm & favorable R/R.

looking for 95/96.....then 1500

 

[vertigo3]

HolyGrail,
do you have a target, or just trailing stop?

 

[HolyGrail]

flat at 92.50