ES Journal Archive (2006 - 2008)

[mbusch]

Broken the back of 1530 support...down we go!

Not trading ES today (still on the road), but a big bet on SDS double-short S&P 500 ETF.

 

[apex82]

yep or in that area.... possibly new lows who knows. Remember I was bearish on the dailies looking for a move to break below 1490 and ultimately move below 1400 but after being stopped out yesterday I am more neutral to bullish until todays lows are negated... 1524-1525 was my last S zone so not point in being a longer term bear until it is taken out.

 

[apex82]

Quote from apex82:

shorting here at 1534.50 first entry

3pt stop on this entry

target around 1525-1528

they are going to run as many stops as they possibly can

taking first profit and second profit as well here at 1527 definately leaving one more unit short with a BE stop

 

[elovemer]

....if we can get above 33.75
.... looking for PA to build... up to below 45 before next leg down....
.... unless we go ahead and drop now....
... dumb noob here....

 

[mbusch]

1530 should now be resistance.

 

[Spooz Top]

if we take out 32.50 ....we should see mid to hi 30`s

 

[elovemer]

...edit... sorry... i meant to say STAY above 33.75 .... not get above....
edit... maybe this ascending triangle will propel us upwards

 

[Spectre2007]

curbs only thing hooding it up. These are easy money days, when multiple supports break, computer algos jump on the cascade fueling it more.

 

[JSSPMK]

I have no idea how you (Spooz Top) can expect -1000/1200 on Dow when you say your trade decisions are not linked to fundamental analyses. Being a technical trader do you see that much of a decline in charts?

All I see so far is controlled retracement which most likely (it looks that way now anyhow) is setting up a divergence on the daily chart to reignite the bull. Not saying I am a naive optimist, that is simply what I see in charts. People that are calling for a DT in this market ought to know that a DT from a technical point of view only becomes a DT when support is broken and that support turns resistance.

So, unless I have been placed on ignore (LOL) I ask kindly (yet again) to let me know (and I am sure other appreciative people also would like to know) what is it you are seeing?

I hope you realise that I wouldn't have asked you if I didn't think highly of your skills

TY!

P.S. You don't have to answer right now, business first.

 

[apex82]

out at BE on last remaning unit short. Now flat on the day on es and er2.... May look at reentering short in 1546-1550 area.. until then I will not be taking any longer term trades..

Great day so far on my own trading as well as calls in the room.

Next longer term trade will most likely be a long on the yen futures... patiently waiting for my signal.