ES Journal Archive (2006 - 2008)

[apex82]

Quote from JSSPMK:

1/3 +8.25

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1751296>

ooo that was a beaut.. nice one jss

had a lot of things workin for you on that one.

 

[JSSPMK]

TY Apex! Always extra bit of an adrenalin rush when it goes your way straight away

 

[kinggyppo]

Quote from kinggyppo:

Anyone watching the QQQQ's down here. Quite the beating may get down to $45.00 but I will look to add long here. long AAPL from $160.00.

will sell calls here on AAPL to lock gains. Nice rally on those cubes.

 

[Spooz Top]

that was nicely done JS..........multiple confirming indicators on that one....very nice fade.

 

[JSSPMK]

TY Spooz!

 

[kinggyppo]

Quote from kinggyppo:

will sell calls here on AAPL to lock gains. Nice rally on those cubes.

Volatility anyone. love this market

 

[JSSPMK]

Long 1377.50 (typo) off 1 min, stop near 1376.5

b/e no momo near the bell

 

[smilingsynic]

Quote from smilingsynic:

2 PM test spike. On slow days, there sometimes will be an attempt to jerk the market in one direction to test the waters to see if there are any stops below support/above resistance. At this point there is not much supply below lunchtime (12-2) lows. I expect a retest of this morning's highs.

Well, the highs were tested and broken through until demand disappeared around 1397, 20 points from the swing low at 2 PM.

I do my best to trade what I see, and not what I think, and that is not going to change as long as I expect to make some money in this business, but what I see here is an attempt to clean out the buy stops and weak shorts in order to take them down later this week.

Today was a classic consolidation day. A calculation of measured moves suggests a low risk buy spot around 1310-1311.

Why 1310-1311?

Measured move:

1511 (swing high from Xmas) - 1385 = 126
1436.25 - 126 = 1310.25

Swing high of 1511- 200 = 1311.

Of course, all of those going massively short have to beware of Uncle Ben, who should be cooking up rice but instead has an inkling for bear.

 

[kinggyppo]

Quote from smilingsynic:

Well, the highs were tested and broken through until demand disappeared around 1397, 20 points from the swing low at 2 PM.

I do my best to trade what I see, and not what I think, and that is not going to change as long as I expect to make some money in this business, but what I see here is an attempt to clean out the buy stops and weak shorts in order to take them down later this week.

Today was a classic consolidation day. A calculation of measured moves suggests a low risk buy spot around 1310-1311.

Why 1310-1311?

Measured move:

1511 (swing high from Xmas) - 1385 = 126
1436.25 - 126 = 1310.25

Swing high of 1511- 200 = 1311.

Of course, all of those going massively short have to beware of Uncle Ben, who should be cooking up rice but instead has an inkling for bear.

I like your thinking here. Hard to argue that we haven't topped unless you don't mind being 200 es points underwater, not my cup of tea. Here is long term spy, looks like the market is heading straight down. Should be more bad news tommorrow. Meanwhile once a day Buy 1 has to lower his stop, very time consuming.

 

[apex82]

Quote from smilingsynic:


Of course, all of those going massively short have to beware of Uncle Ben, who should be cooking up rice but instead has an inkling for bear. [/B]

hilarious

Im full bear as well until nasdaq can break its prior days high. Im short from a position trade basis and will cover once that happens.