ES Journal Archive (2006 - 2008)

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Quote from TL Trader:

I can hear the conversation now when he returns home to his wife.

Ben : "Honey I'm home!"

Wife : "Well hello Ben, is that rate cut in your pocket or are you just happy to see me?"
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Classic Mae West quote ! LOL !!!!! :D :D :D


Another quote :
"Ya know it was a toss-up whether I go in for diamonds or sing in the choir. The choir lost."
 
Quote from apex82:

taking half at 1469.. this is taking to long.... be stop now.
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Funny...

Went short from 1475.50 about the same time you did, but had to leave for the day, so had to put the trade on autopilot. Placed a limit order to buy back at 1462, and set a trailing 4-point stop (wider than usual, but this was on autopilot).

ES dropped to 1465 (dragging stop to 1469), then rebounded back up into the 70s. Trailing stop took me out at 1469, exact same place you exited. So ended trade at +6.5. In retrospect, I probably wouldn't have done better had I traded the move live.

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I'm puzzled by the fact that the move down from 1477 stopped after only 12 handles. That doesn't seem like enough for the expected wave 4 down after a 57-handle wave 3 up from 1420.50. At minimum, I'd have expected a 38% retracement (~20 handles down) but we didn't get it. The more I look at it, the more today's 12-handle downmove looks like nothing but a bull flag in the middle of what might turn out to be a 100-handle wave 3 up (to perhaps 1520).

Also puzzled by this AH move from 75 to 82 and back. I'm inclined to disregard it from an analytical standpoint.
 
Didn´t expect such a heavy move premarket again.

Bit confused and clueless now.

Equities are on a sick heater, about 6% up in 3(4) days. Have not seem this for a long while.

If we keep this level til opening, I am going to short NQ at 2125+33 for a consolidation down to 2105(or gapclose).
 
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