ES Journal Archive (2006 - 2008)

[princessa]

Quote from satchel:

How often do we have trend down/up days? How many traders fight that?
When do people lose big? On trend days!

Mental scenarios for the discretionary trader, call them whatever you want. Preparation.

Okay, I give up.

So yeah, we are going up or down

dude, don't feel the need to explain yourself to detractors. those of us who were going to get it, got it the first time you said it. i agree with your initial sentiment....

 

[satchel]

A move to 1537-35 is the buy setup. Need reaction low.

 

[islands111]

Quote from Pekelo:

We are having the 2nd upgap in a row, and according to Pekelo's 2nd gap rule, this should close today. Also the next day play after an ADU calls for sideways consolidation.

what percentage of the time does this rule fail?

 

[2006]

You and everyone else will be buying the close of the gap.

Watch it go another 5 points lower from there.

Quote from satchel:

A move to 1537-35 is the buy setup. Need reaction low.

 

[satchel]

Yeah, 36 will be interesting. Not placing any standard orders at this point.

 

[Lance Carson]

Feel sorry for REALTORS, Cramer just dumped the whole Industry, lol

 

[saxon22]

I missed that entry at 1538.


BTW what time the #'s are coming?

 

[Pekelo]

Quote from islands111:

what percentage of the time does this rule fail?

Only 10%...

An explanation: I use the cash chart to determine the existence of a gap. Yesterday the SPX almost closed (got close by 1 point) so that isn't really a leftover gap. But the Dow didn't even get close yesterday.

The Dow just closed the gap and it is possible the SPX won't because of the small/non-existing gap from yesterday.

So the rule has already been confirmed...

 

[satchel]

http://bloomberg.com/markets/ecalendar/index.html

Oil crap next.

 

[satchel]

Peke I agree, I like to line up the Globex hi and low for ES. And gap lines for INDU-cash.