ES Journal Archive (2006 - 2008)

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Nice swing up to add to crude short. Dollar rallying. High on ES 1575. If you went short ES up there, Spec and Apex and others showing support levels. They will likely push it under 1450 - 1443.
This is resistance becomes support, back to ICE. Wave 4 retrace yada, yada. ICE hold = new highs, ICE cracks and your short you have to be saying to yourself the logical thing to do is hold to 1410 and under. IF-THEN-ELSE. Why rip yourself off?

White plays to WIN black plays to DRAW you will always be $ net positive.
 
Quote from CPTrader:

Avarus, you remind me of somene, you sound familiar, care to intrduce yourself?!!
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CPTrader-

If I think who it is that you think I remind you of, I am not him, but I thank the lucky stars above everyday for being at the right place at the right time and being fortunate enough to learn from that gentleman. I've gone on to learn a lot more since those early years, but he was one of the best I have ever encountered. I still owe him a steak dinner.
 
Quote from Sponger:

In response to this and your other posts, I'm thinking along the same lines. Today (Wednesday), suddenly everyone is all warm and fuzzy thinking the Fed is going to save the day - stop a recession, clean up the credit mess, insert whatever else ails us here. "Its a foregone conclusion", "the Fed will lower as far as necessary", "we're going back to 1% fed funds rate".

Ok......if everyone got religion today and believes the Fed is in full easing mode.....and breathed a giant collective sigh of relief over the economic future.....all that euphoria, and all we could muster was +300 in DOW and +40 in S&P....and the backdrop on all of this is an economic slowdown that from all sources is saying a sustained decline.
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And what happened after September 11th after Greenie cut heavily - market rallied for 5 months.

The rest of the world is coasting along well, this from overnight news
National Australia Bank agreed to buy privately held U.S. lender Great Western Bank for $798 million.

I'm just saying there's so many factors.

Sometimes you just need to put things in perspective :D
 

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Quote from avarus:

Nice swing up to add to crude short. Dollar rallying. High on ES 1575. If you went short ES up there, Spec and Apex and others showing support levels. They will likely push it under 1450 - 1443.
This is resistance becomes support, back to ICE. Wave 4 retrace yada, yada. ICE hold = new highs, ICE cracks and your short you have to be saying to yourself the logical thing to do is hold to 1410 and under. IF-THEN-ELSE. Why rip yourself off?

White plays to WIN black plays to DRAW you will always be $ net positive.
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Are you private solo, or at a firm?
 
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