ES Journal Archive (2006 - 2008)

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Just shutting down the computer here to head for the airport...

The SPY Nov 155 calls I bought yesterday are now up 75%. Raised my stop-loss in case something bad happens while I'm in the air, but hoping to hold them to FOMC for a homerun.

My last post for awhile...good trading!
 
Quote from loik:

should`ve traded on both of Spectre2007s <A HREF="http://www.elitetrader.com/vb/showthread.php?s=&postid=1655448#post1655448" TARGET="***">predictions</A>!
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I take a lot of heat on the holdings at times, its not a recipe for new traders, the most important thing is to get the trend right similar to what B1S2 says. The key is to not let price noise to shake you out.
 
Quote from apex82:

on your first entry signal to the long side today make sure to hold a piece for an extended winner.....

Looking to add more long in the 1531 area and hold for most of the day.

first long will be in the 1534-1532
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taking some off here at 1535-1536 leaving runners though

price action does not have me as convinced as I was before the open...
 
Still very bullish so got in on the retrace. Added more at 33, expecting to hold to new highs. Will scale out as things go my way.

Hoping this can be a nice up day, daily chart is still very bullish imo but things can change any minute so will have tight stops in place just in case.

Out 2 at 34 - damn it blast upwards will ya :p
 

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the price action actually bodes well, means its sucking in countertrend traders, shorts, ...means it still has much more room to move up.

hey blackguard you still long from 1513?.. :)

once enough shorts are in place, it will gap higher,, trapping the shorts, and then towards the close the shorts will realize FOMC meeting is next week, and will end up paying a premium to get out.
 
Quote from Spectre2007:

the price action actually bodes well, means its sucking in countertrend traders, shorts, ...means it still has much more room to move up.

hey blackguard you still long from 1513?.. :)

once enough shorts are in place, it will gap higher,, trapping the shorts, and then towards the close the shorts will realize FOMC meeting is next week, and will end up paying a premium to get out.
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I see the opposite... market is not exhibiting trending day behaviour making me nervous on my longs... very critical point on the daily chart for longer term direction.

Thats why I have a trading plan.. I would be doomed trading by my emotions.
 
Quote from Pekelo:

I was about to post P/L but now just to piss more people off, let everybody think whatever they want... :)
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LOL, this guy has the maturity of a 14 year old.

JJ
 

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