ES Journal Archive (2006 - 2008)

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anyone concerned that ES has risen quite steeply looking at a daily chart over the past week or so... and I mean concern in the sense for longs or that a down move can come pretty violently on even the teeniest sign of a crack.
 
Quote from avarus:

Slipping on some shorts above 1492. Maybe do a little sleigh riding.
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If this short follows thru, holding back to 1462.50 where I will look to be long again to 1525 then ultimately 1560, then 1590.
If this short above 1492 starts failing, will reverse back long to 1526.
 
Quote from avarus:

If this short follows thru, holding back to 1462.50 where I will look to be long again to 1525 then ultimately 1560, then 1590.
If this short above 1492 starts failing, will reverse back long to 1526.
More...

I like it... I am watching this 1497-1500 zone very carefully... except I want 1440.
 
I closed out all my longs in nq in the ah for +24 pts... biggest trade in awhile.

I closed out my es prematurely which would have been a gain of 30 pts.. you cant win em all.

In the AH we are getting to some key reversal zones... If you are long I suggest taking some profits tomorrow. The market may go straight up but the probabilities are against you. I am looking to lean short if everything sets up in the am. If weakness does not come in and they dont show their hand.. I will pass. I am definately not buying at these levels long term until the smoke clears. The R:R and probabilties weigh to the downside. The only negative is a multi-year bull market and the most bullish time of the year heh. I just go where I have an edge and can maximize my reward for the money I put at risk. Therefore, bull market or not I am preparing for a bull slaughter.

Short zone 1497-1500 +- a couple

targets in the 1440 area
 
heres a trade, probabilities are moderate..

ADP and other data was reasonably strong..

the FED officials apparently know more about upcoming data then the market..the NFP number will be engineered to come in weak...to justify 50 basis cut.

otherwise, bond market falls apart, secondary to inflation fears...dollar gains will be eroded.


so how would you trade the markets if you knew NFP would come in weak. :)

so watch for bearish pre market action...thursday night.
 
Downside breakout through support at 1491.75 now.

Went short from 1493.75 at 2130ET, but been going nowhere until now. Hopefully will see some downside now that the DAX is open.

First target 1488.25.
 
Quote from mbusch:

Went short from 1493.75 at 2130ET.
First target 1488.25.
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Stopped out at 1491.25 for +2.5. Got down to 1489.00 (3 ticks from my limit order), then spiked up and caught my trailing stop. Ah well, +2.5 is better than a poke in the eye with a sharp stick.
 
Thanks for your thoughts apex,spectre,mb,etc. If ES doesn't hold here 1481 first target. If you went short Crude a while back, watch 84 to hold.
 
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