ES Journal Archive (2006 - 2008)

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Quote from apex82:

I guess I am the only not overly bearish? Market is way oversold and I would expect a pop to 1510. I am not going to chase the downside at this point. I may miss some massive moves but in the end I know it keeps more money in the account. However, I definately wouldnt want to hold long over the weekend. I just dont see any good shorting oppurtunities longer term without excessive risk.
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I was very bearish morning session but afternoon has been very bullish signals form my system.

Expecting a decent rally into the close so will be holding 2 for much higher gains. Out the other 2 at 55, still expecting atleast a move to 58.

Man this trade has been frustrating, everytime im expecting a pop it stalls.

Posting the blotter just so people dont think im typing this in hindsight.

Out 1 more at 60.00, letting the last unit run with trailing stop. Very happy with trading and patience today - nailed the pig on the way down .
 

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Quote from princessa:

after synic printed his "i'm not bearish" comment, i was going to chime in and agree, but decided to remain silent.

then a chimed in and said that he, too, was not "overly bearish".

i thought, okay, that makes three of us, but still was going to remain silent.

the thing which got me writing, though, was synic's comment about being too short (or was it too many shorts?) making one a kass.

what's a kass????:confused:
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Doug Kass is a permabear hedge fund manager who writes for thestreet.com. His analyses always make the most sense at market bottoms. I think his son used to be in the business, but had some "problems", I hear.

Being short and not covering is like being long and never selling. Paper profits don't pay the bills.
 
Quote from Mins:

I was very bearish morning session but afternoon has been very bullish signals form my system.

Expecting a decent rally into the close so will be holding 2 for much higher gains. Out the other 2 at 55, still expecting atleast a move to 58.

Man this trade has been frustrating, everytime im expecting a pop it stalls.

Posting the blotter just so people dont think im typing this in hindsight.

Out 1 more at 60.00, letting the last unit run with trailing stop. Very happy with trading and patience today - nailed the pig on the way down .
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I have to say I tested a long as well... the R:R was to good to pass up.. was small size due to option exp and near EOD.. nice trade man.
 
Quote from apex82:

I have to say I tested a long as well... the R:R was to good to pass up.. was small size due to option exp and near EOD.. nice trade man.
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Thanks mate. Yeah very good R:R, i was suprised so many were bearish when we could not break the lows of the day and clearly buyers were coming in heavy on each dip.

Have a good weekend all.
 
I'm pretty sure Kass expects a year-end rally. I saw him on cnbc, and one of the commentators chided him, wondering if his expectation for a year-end lift could be a contrary indicator (since he is usually bearish).
 
Quote from vertigo3:

I'm pretty sure Kass expects a year-end rally. I saw him on cnbc, and one of the commentators chided him, wondering if his expectation for a year-end lift could be a contrary indicator (since he is usually bearish).
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If he "expects" a rally, he should cover many of his shorts or, if he does not want to go through the time and energy that requires, go long stock index futures until the foreseen rally ends.

If he expects a rally and yet remains net short, then gee, that doesn't make a whole lot of sense to me.

I pick on Kass because in the past his writings suggest he is most bearish when the market is the weakest. Permabulls who become more bullish in a parabolic move up, therby becoming bagholders, deserve the same.
 
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