ES Journal Archive (2006 - 2008)

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73.50....................then... 79.50 are the targets..

a bit too conservative on my lo 60`s re buy.......up nicely on the day with the gap up from lo 60`s yesterday & played it too tight down lo....bad habit.

nice job mbusch :cool:
 
We are now beyond my intermediate measured move target of 1574.50. My longer-term measured move target is 1585.25. I'm seing the beginnings of bearish divergence here, but not enough to go short yet. On the sidelines, frustrated to have missed the last 5 points of this upmove, but happy that I got a decent piece of it.
 
Momentum on carry trades failing a bit. Time to short. Bought the SPX Oct 26th 1608 no touch at 658/1000, scaled. SPX printing 1564.02.
 
Quote from atticus:

Covered 72.00 for a loss of 6.00. Carry trades breaking out to the upside, so this rally has legs. No position in ES.
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You had commented before about the eur/jpy, I believe in terms of the es. Can you explain the correlation, I hope I have the right pair. Thanks.
 
Quote from kinggyppo:

You had commented before about the eur/jpy, I believe in terms of the es. Can you explain the correlation, I hope I have the right pair. Thanks.
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Swaps decline when index markets are strong. Analogous to CDS' or corp/gov bond spreads. It a reversal of a flight to quality, and JPY suffers as trade borrows in yen to buy euro [as well as aud, gbp, usd].
 
Quote from atticus:

Swaps decline when index markets are strong. Analogous to CDS' or corp/gov bond spreads. It a reversal of a flight to quality, and JPY suffers as trade borrows in yen to buy euro [as well as aud. gbp, usd].
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ok thank you.
 
Quote from Spooz Top:

mbusch....would you be able to share a pic of that potential bearish divergance?
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Sure, but give me a few minutes. Just entered last trade of the day, long from 1573.75.
 
Quote from mbusch:

Sure, but give me a few minutes. Just entered last trade of the day, long from 1573.75.
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Okay, out at 1575.75 for a quick +2. Done for the day. Now I'll get you that chart...
 
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