ES Journal Archive (2006 - 2008)

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Support for the market on the 13th, 14th, 17th, and 18th was about 1485. Recent high was 1552, so a 38.2% retracement is almost exactly our current bottom of 1526.50. If they can't hold that the logical point would be the 50% of 1518.50.
 
Quote from opt789:

Support for the market on the 13th, 14th, 17th, and 18th was about 1485. Recent high was 1552, so a 38.2% retracement is almost exactly our current bottom of 1526.50. If they can't hold that the logical point would be the 50% of 1518.50.
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Since when has the market ever been logical ?
 
Since when ES has lost 5 points by 7:30? That kind of movement is usually reserved for deep night not the evening. By the time 2 AM hits, we will be down another 5 points.
 
Quote from volente_00:

Since when has the market ever been logical ?
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"You can only find truth with logic if you have already found truth without it." -Gilbert Keith Chesterton
 
Quote from apex82:

So your going to take a 10 point stop at 1523 on 5 add on entries from 1533-1531 even though you think it has to be tested?
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I covered all my shorts at 28.50.. was looking to short it at a higher premium in AH.

But as you can see the market, meets the expectations far ahead of schedule.
 
You never know. Nikkei was closed for holiday. We could do anything.

It's open now up about 70 I think.

See how it does. I think 27.50 is a good entry for a scalp. (up)
 
Quote from satchel:

You never know. Nikkei was closed for holiday. We could do anything.

It's open now up about 70 I think.

See how it does. I think 27.50 is a good entry for a scalp.
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over the years you realize going against the predominant/sentiment trend is not worth it. Low probability trades aren't worth it.
 
Quote from Spectre2007:

breeeeeeeeaaaaaaaaakkkkkkkkkkkk...........(shouting at it helps)

long 33 SL 23 TP 43....

long 32.75 SL 23 TP 43....

lets cost average here...

long 31.75...they are practically giving these away...oh how lucky can one be...the market makers are such a nice bunch of folks..

I wish I had their addresses would send them all a christmas card...

cost averaging again...

30.75....my stop on the whole bunch 23....
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thought you were long & getting longer ,Spec???

still riding 1/2 position from 33 cost basis.....& looking for a reaction @ 24/26 area,if we get thru,then........S2 @ 18/20.
 
Quote from Spooz Top:

thought you were long & getting longer ,Spec???

still riding 1/2 position from 33 cost basis.....& looking for a reaction @ 24/26 area,if we get thru,then........S2 @ 18/20.
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nah... all my charts are pointing down, every chart I post is indicating it will go down, why would I be long...I learned a long time ago, weekly highs and lows are inefficient zones, probability dictates, if a movement hasn't occured and tested lower levels, initiating a positon with the high or low will go against you severly.
 
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