ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

But think of the fund managers who have had a poor year because of the two big drops this year. They are going to want to make up lost time so they can finish the year off big. How better to do it than by a massive rally in which buying begets more buying, and so forth.

I would not want to be going up against that!
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I would like to think most of these fund managers, if not all, are the same managers who got dragged down to the gutter in the previous recession. I would also think they would jump for the exit at the first sign of trouble, certainly with their ass intact this time. But all this euphoric madness will likely butcher any bears standing in its path at least for the rest of the week.
 
nice job staying with that trade Apex.....going to be interesting going forward......i`m not buying into this euphoric move going into the fall season,this thing has CT written all over it & will be looking to do so on a longer than usual holding period.

sooner rather than later,the dollar & inflation have to matter....bendover ben just buried us,imo. along with the USD...commodities to the moon but our trustworthy gov`t just can`t seem to find inflation anywhere.i`ve seen this movie before & it does`nt end well.
 
Quote from jason586:

"what a freakn bar.... tomorrow time to play the short side"

Are you waiting for this resistance zone 2 to short?
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Yes, if you look at the chart I posted yesterday describing 2 patterns that can lead to an explosive mood in each direction you will see it is very similar to the situation on the daily chart. Any weakness around these areas and you are going to see a very fast decline. However, if we continue to impulse to the upside new all time highs will be in place. I am waiting to see if we get a doji tomorrow which would set up a nice place to buy some puts for a low risk short once and if that LOD is taken out. Market is trading in a pivotal zone..... Great time to be on the sidelines and pounce when the oppurtunity presents itself.
 
Quote from Spooz Top:

nice job staying with that trade Apex.....going to be interesting going forward......i`m not buying into this euphoric move going into the fall season,this thing has CT written all over it & will be looking to do so on a longer than usual holding period.
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Thanks man.... although I didnt leave a runner to make those additional 15 pts or so.... but noone could predict that big of an explosion.
 
Quote from Spooz Top:

nice job staying with that trade Apex.....going to be interesting going forward......i`m not buying into this euphoric move going into the fall season,this thing has CT written all over it & will be looking to do so on a longer than usual holding period.

sooner rather than later,the dollar & inflation have to matter....bendover ben just buried us,imo. along with the USD...commodities to the moon but our trustworthy gov`t just can`t seem to find inflation anywhere.i`ve seen this movie before & it does`nt end well.
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'98 all over again?
 

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Quote from apex82:

Yes, if you look at the chart I posted yesterday describing 2 patterns that can lead to an explosive mood in each direction you will see it is very similar to the situation on the daily chart. Any weakness around these areas and you are going to see a very fast decline. However, if we continue to impulse to the upside new all time highs will be in place. I am waiting to see if we get a doji tomorrow which would set up a nice place to buy some puts for a low risk short once and if that LOD is taken out. Market is trading in a pivotal zone..... Great time to be on the sidelines and pounce when the oppurtunity presents itself.
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Thank you for your reply and further details.
 
Quote from Spectre2007:

if you look at the YM ES charts 13800, 1520 is the closest daily resistance, I expect a 25 basis cut, you should see a initial spike, to close to those level, on ES 1510 plus minus 4 points, then spike back down to 1490 or so, then slow crawl back up to 1510 and ultimately the days following test resistance at 1520, but I don't anticipate we go any higher.
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Thanks for your help as well. Although it was a 50 basis cut, the fed day highs were pretty close to your numbers!
 
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