ES Journal Archive (2006 - 2008)

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Quote from jb71:

Spectre... so we're going down to 1418 first before we move up toward your 1464 target?
More...

yeah..

the timetable is moving up.. for FED ..Dec 11th.. just around the corner...

world central bankers will continue to print heavily as in the past to rescue the economies from a deflationary spiral..

since most of the dominant eur-amer...are not resource intensive..they don't loose by printing.

in order to capitalize, if they leave a negative taste...Asia will open negative, and EUR-AMER will open negative liquidity, giving the 1428-18 sellers an out.. Monday.
 
UPDATE ON EURO...

weakness came in a big way to the exact tick of the major resistance. I am now fully out of my euro long position and am now short atm calls. Market is trading right in support now at 1.4800 so I wouldnt be surprised to get a rally up to retest the high before continuing its move.. However, due to the strength of this resistance I am getting in a bit early.
 
No trading today--spending time putting up Xmas tree, cutting firewood, and watching football. NO SHOPPING, either.

Strong day to the upside, but holiday trading is often characterized by an uptrending day on low volume. I used today to get out of the some long positions on XLF, but I would not consider today a turnaround day. I expect to buy back into XLF and stocks at lower prices.

Iow, just how significant is today? Not very, imo.

I would love to get long the S&P for a nice 3-5 day run. Today is just not the time.
 
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