ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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This sell off was looming, no way around it. I thought it was going to happen last week and then revised my outllook to after most earnings reports ran the market into overbought territory and figured the market would tank after rate cut and more subprime meltdown news from the media.
Big boys played it perfectely once again! Ran the market right back up on "better" than exppected earnings only to tank the markket right after cut and housing/credit news. Most likely duped alot of retail traders out of their money over the last 2 weeks! ALOT of money was(and still is) to be made of off this "volitile" market.
I didn't know how much the DOW wouldn't drop exactly, however I kid you not, I figured around 30+pt loss on the S & P!
Elovemer was right, market showed you it was going to tank premarket and no head fake here! S & P will continue to break down and still has further to go. If 4th quarter spending is soft then all indices will further drop. I can't trade Eminis(I have lousy equity broker account) only pathetic ETF's. If I was trading the ES I would have went no less than 20 contracts short before the bell and rid them to EOD!
Time to perform some Elliot Wave studies on the charts(yes I do believe in it) to figure market direction for tommorrow! Enjoy!
Big boys played it perfectely once again! Ran the market right back up on "better" than exppected earnings only to tank the markket right after cut and housing/credit news. Most likely duped alot of retail traders out of their money over the last 2 weeks! ALOT of money was(and still is) to be made of off this "volitile" market.
I didn't know how much the DOW wouldn't drop exactly, however I kid you not, I figured around 30+pt loss on the S & P!
Elovemer was right, market showed you it was going to tank premarket and no head fake here! S & P will continue to break down and still has further to go. If 4th quarter spending is soft then all indices will further drop. I can't trade Eminis(I have lousy equity broker account) only pathetic ETF's. If I was trading the ES I would have went no less than 20 contracts short before the bell and rid them to EOD!
Time to perform some Elliot Wave studies on the charts(yes I do believe in it) to figure market direction for tommorrow! Enjoy!
just wanted to say nicely done to all those shorts that took the ride down.......Mbusch,Wave & Apex for jumping back in.
i`m mantaining my bearish mode here till year end as just as i did in the face of that monster hammer when bulls were claiming victory.
right now we are sitting on the daily spooz TL with a monster diamond on the daily as well....looking to build out a bit on this diamond set up before we continue south.....looking for 100+ handles upon the break of the setup.....this is going to be a fun month in many markets.
i`m mantaining my bearish mode here till year end as just as i did in the face of that monster hammer when bulls were claiming victory.
right now we are sitting on the daily spooz TL with a monster diamond on the daily as well....looking to build out a bit on this diamond set up before we continue south.....looking for 100+ handles upon the break of the setup.....this is going to be a fun month in many markets.
summary of live calls
6 posted trades for 49.5 pts
6 wins
0 losses
yet people are still giving me a hard time.I went throught this a couple years ago which is why I stopped posting.Do a search under user name 'blackguard'.
as for tomorrow I hope shorts get the living daylight squeezed out of them.Myeslf?Im on the sidelines.
blackguard
6 posted trades for 49.5 pts
6 wins
0 losses
yet people are still giving me a hard time.I went throught this a couple years ago which is why I stopped posting.Do a search under user name 'blackguard'.
as for tomorrow I hope shorts get the living daylight squeezed out of them.Myeslf?Im on the sidelines.
blackguard
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