ES Journal Archive (2006 - 2008)

[JSSPMK]

Quote from JSSPMK:

I see a possible short here

I haven't completed sentence in 3 rectangle:

On 3rd lower peak when price is making yet another higher swing, longs holding from initial long signal or later (doesn't matter) will consider at least partially offloading their position and also bears might step in at the same time creating more momentum. That is a common scenario, unless it is to be a trend day, where buying volume goes into overkill. Beauty is in very small stops.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1628106>

 

[mbusch]

Long again from 1550.75 (50% retracement of this morning's run-up), very close stop. Target 1554 to 1557.

 

[saxon22]

Pure art Mbush, pure art I tell you.


Congrats!

 

[mbusch]

Just closed the gap based on 4:15. Question is will we close the gap based on 4:00?

I just closed my long at 1553.25 for another +2.50. Today's total now +7.

Thanks for the kind words, Sax. Yesterday, nothing worked for me, and I was almost tempted not to trade today. Today, everything worked. I guess that's part of the game.

 

[saliva]

Short 5325, gulp.

 

[Spooz Top]

Quote from Spooz Top:


looking at next S @ 50.....47.....44 solid

still looking for objective of 68/69 to be hit ......then quite possibly 79/80.........looking for that swing lo spring board that takes us there. [/B]

looking like 47 to the tic may have been that spring borad swing lo we were looking for....we shall see.

nice job mbusch....was with you on that one.

 

[saxon22]

I was going to short it at 1553, but got that FEAR today. I am rooting for you on this one!


Edit: I do not think it is going any higher than 155.50 on this leg up.

 

[bsparkyman]

Don't know what he saw but will add my 2 cents as I missed my fill at 53.75. After the gap first swing down below the open was nearly half of yesterday's range. Would not expect the reversal swing to exceed the first swing after trading back above the open or yesterdays range in total. Was looking to get short at the 50% retrace from yesterdays high to todays low with move back to at least the open. As 47 was 50% of 28th low to Oct 1 high was looking for a quick 3 pts and a continuation of upward prices. Did get long at 48 for 4 pts.

Short now at 54, don't like taking the second test but looks like a double top may be forming and close to move of yesterdays range off of 47.

Quote from vertigo3:

Anek,
please specify the type of chart you are using, (if time bars, length of bar, if volume based bars, # of contracts/bar)

thx

 

[JimmyJam]

Quote from Buy1Sell2:

I am hopeful that my demonstration here of adding positions as not being the proper method has not been lost.

Disagree

Quote from Buy1Sell2:

Notice how my additions to the original ES position have resulted in an average entry price that is 6 to 7 points higher than if I had put all 8 units on at once initially at 1537.75. Meanwhile I have my full NQ position on at 2026.75

Averaging into a trade that moves in your direction ain't too shoody.

Quote from Buy1Sell2:

There will be no more additions to the ES position, I will hold long here due to the fact that I have a large enough position on between the NQ and the ES. Holding long for now.

I believe there is better than even possibility of a fairly decent upmove today

Not so long as my line in the sand holds. Had to move my stop one tick to get it out of the way. Right now it's looking like the price action is not going to go in my favor, buuuuut the day is just beginning.

Good trading,

JJ

 

[mbusch]

Presently flat. At 1554 ES touched a descending trendline on my 15-minute chart. Considering going short from here.