Looks buyable here at 51.5
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
A review of the chart this evening shows that there was some nice consolidation action today. I have decided that the ES position can stand 2 more units here without being overboard with relation to TLNW. I have added 2 more units here at 1553.75
Good trading to all!
So the market drops 12.5 points on a closing basis today and you call that nice consolidation? Can you please explain what you mean? Granted, we had some good earnings after the market closed and probably will move up tomorrow--it's just the "nice consolidation action" statement that I find somewhat bizarre.
All The Best, DMartin
Borsellinos` book was flat out brutal.....nothing to do withtrading at all but was focused on vindicating his father & himself.......i`ve never seen somebody pat himself on the back so many times for being a "standup guy"......joke of a book.
he was a good local in the pit because he had an edge....especially when they allowed dual trading,he held the "deck" in his hands & knew where to be in with size to back him or riskless trade....he went on to manage money & convert to a screen trader where he crashed & burned,makes you wonder how good of a trader he really was without his enormous edge.
Buzzy was the man...period.devised his own methodolygy through years of losing...one of my favorite books without a doubt.....very entertaining but nothing of value that can be applied today except some great mantras that i still use.
how do you feel about both books & them as traders?
Quote from Spectre2007:
both your ES and NQ trades will be golden, I was hoping for more of a downdraft to position, but it looks like the strong earnings will swing it around within points of their highs around FOMC meeting.
the FOMC meeting volatility will spill it over, I expect to see 1620 and higher, as the months tic away.
If you've watched Bernies and Paulsons speeches as of late, they are indicating expect another rate cut.
Options expiration will add some volatility for positioning too.
its...19.30 pm est USA time, here is the turn...for new highs....(notice my time stamp)...
i`m going to take the other side of this in the big pic & be a seller on the bounce.obviously i trade intraday setups & don`t let the big pic interfere with any intraday set up long/short to grab a few handles.
i too believe there was some accumulation going on today in that grind down but i`m very curious to see just how hi this pop will take us?i`m expecting a weak move to lo/mid 60`s before we begin to fade.that topping pattern is just to persuasive for me to ignore.
big #`s coming out tomorrow.....including Biege Book....looking for Vol to pick up tomorrow as well with lots of opportunity!
Spec....why don`t you stick around for a while........
or maybe we're all fairly equal genetically (with slight variations of course) and 90% of ability is learned. training from age 3 months = genius, for example, in 90% of humans. stock/finance training from age 5 years = stock/trading genius. piano training intensely from age 3 = piano genius.
it's amazing how people make these genetic assertions about things which could just as easily be learned. i guess they do that because it makes them feel better, like they're superior, or something....
disagree. i think everyone has the ability to become a surgeon if trained well enough and from an early enough age. most people simply do not have the inclination to train a child that intensively so it falls to luck and interest and backing, etc.
with regard to trading, i would have to say that training is also everything. skill sets can be learned through training and practice.
unless the individual is handicapped (with some exceptions there, as well), almost anyone can be trained to be a surgeon, a rocket scientist, or a concert pianist if you start early enough.
who is the psychologist (historical) who said give me a baby and i'll give you a genius? then proved it.
Quote from Spooz Top:
i`m going to take the other side of this in the big pic & be a seller on the bounce.obviously i trade intraday setups & don`t let the big pic interfere with any intraday set up long/short to grab a few handles.
i too believe there was some accumulation going on today in that grind down but i`m very curious to see just how hi this pop will take us?i`m expecting a weak move to lo/mid 60`s before we begin to fade.that topping pattern is just to persuasive for me to ignore.
big #`s coming out tomorrow.....including Biege Book....looking for Vol to pick up tomorrow as well with lots of opportunity!
Spec....why don`t you stick around for a while........
I would think that 1557 (Monday's POC) would present something of a hurdle, but if we get past that, with some gas,I'd be looking at the 1570 area as a possible target. Thoughts anyone?
I have yet to read borsellino's but have heard many stories from a friend that used to be in the pit when he was there. Buzzy's book is what turn me on to the S&P. I like it because he was a pioneer and never gave up until he made it. Regardless both made millions in the markets and I still think you can learn something from anyone who has the talent to actually do that.
How those 51.5 buyers doing ?
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