ES Journal Archive (2006 - 2008)

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This downmove was expected, but having it occur over the lunch hour was not.

EDIT: Measured move target here is 1499. (1515->1504->1510->1499)

EDIT: 1499 would also correspond to an interesting psychological level in the DJIA of -200 points.

EDIT: Well, 1500 is close enough. Every retrace today has been just about exactly 50%, so if we hold to form we should retrace to 1504.75 or so, and then resume our downward path.
 
i feel a major crack- o - la of the critical level 0f 94/96 is looming before EOD......if so,it would`nt surprise me to see us at 1440/50 by tomorrow morning........heeeaaavvvvyyyyyy
 
Quote from mbusch:

Every retrace today has been just about exactly 50%, so if we hold to form we should retrace to 1504.75 or so, and then resume our downward path.
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Fooled me. This one retraced to 61.8% instead (to the tick).

Quote from Spooz Top:

i feel a major crack- o - la of the critical level 0f 94/96 is looming before EOD......if so,it would`nt surprise me to see us at 1440/50 by tomorrow morning........heeeaaavvvvyyyyyy
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Spooz, from your keyboard to God's flat-panel display! :)

EDIT: Next measured move target is 1496.25.

(1509.50->1500.00->1505.75->1496.25)
 
didnt call it out but hope you guys got short on that last pullback... golden :)

rididng her down again... see what happens this time

bastards better not ride it up again and get me out at BE... looks like a bottom forming though.. Lots of support here.
 
Quote from mbusch:

Fell short by 4 ticks.

50% retrace is 1501.50. 61.8% is 1502.50.
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i would be careful shorting here... IH&S being formed on all markets as I speak
 
Quote from apex82:

didnt call it out but hope you guys got short on that last pullback... golden :)

rididng her down again... see what happens this time

bastards better not ride it up again and get me out at BE... looks like a bottom forming though.. Lots of support here.
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i`m actually still holding my 25.75 sell & add on at 13.75 from this am.......setting my traling stops is my weak part of my arsenal & i`m not ashamed to say it.....as it stands it sits above the 60% fib intraday.......& looking for a move to Hades on this one.
 
Quote from Spooz Top:

i`m actually still holding my 25.75 sell & add on at 13.75 from this am.......setting my traling stops is my weak part of my arsenal & i`m not ashamed to say it.....as it stands it sits above the 60% fib intraday.......& looking for a move to Hades on this one.
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I have to agree... Its hard to ride out a longer term position


market looks weak though.. I think you got this one :)
 
Taking some profits here: sold 700 of my 2000-share position in SDS at 52.99 for a 3.3% profit ($1200). Still holding 1300 shares with unrealized gain of $2200. Not bad for a day's work.

Setting a hard stop on the remaining position about 1.5% below current levels, and will trail the stop up if and when the market moves lower.
 
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