ES Journal Archive (2006 - 2008)

[volente_00]

Quote from chewbacca:

1325 hit today........i expect a massive rally from these levels.........the only concern i have is with the dow.............i think true capitulation on the dow would be breaking the march 07 low of 11940 or the or testing the may 06 high of 11700.......not too far from here.......this market is sick

Draw a 5 year trendline through spx. We are now getting back near where it first started deviating away from the trendline.
In the break of the h and s, I have a downside target of 1280, but I suspect we get a rally from before that. The recession will come but worst case is 2 to 3 quarters of negative growth. The market is looking forward and it is already priced in. A lot of people getting spy put to them tuesday from a much higher level. Will be interesting to see if they dump and drive us lower or was it staged as a way of getting long for the next rally up. Like a spring, you can only compress it so far before the bear market rally fires off.

 

[jagmot]

Quote from storm121:

shorts are in for it next week.they have 3 days now to decide their fate, but next week its game over.

I personally know a lot of trading careers will end next week as this market starts to rally.

Its going to be fun to watch.

blackguard

How many careers ended this week being a stubburn bull?

Ps. Small position long over the weekend as we ve seen quite a few rallies in after hours.

 

[elovemer]

.... putting someone on ignore does not work ..... if everyone keeps quoting the guy.....

Quote from jagmot:
How many careers ended this week being a stubburn bull?
Ps. Small position long over the weekend as we ve seen quite a few rallies in after hours.

 

[Lawrence Chan]

The exact times that storm's messages added to this thread are very amusing as they mark the temporary highs all the time.

A different kind of timing signal for daytraders I guess.

 

[princessa]

Quote from Buy1Sell2:

Of trading account balance yes. However, I think the time has come to clear up my exact entry short because the numbers are throwing everyone off and I want you to understand what my stop loss is in actuality. --As you know I had not been posting regularly for a while and as such I had not been posting real time trades. I don't like that when people don't post real time so I chose to announce that I was short when the hourly chart went negative and I sold at at 1416.75. I will reveal here now though, so as to clear the water, that my entry short was on 12/27 at 1488.50. I didn't want to reveal this because I think it is disingenuous to post non real time, but right now I need to bring it up because everyone is having difficulty with the 100 point stop out. The stop started at 28.5 pts. I hope that clears things up. For purposes of calculating gain on this trade though, let's use the 1416.75 number because that is where I posted real time. --

i understand what you are trying to do and applaud you if you can do it well. if you expect the market to go down, which i think we all did, it makes sense to ride it out this way. but it's simply difficult for me to get my mind around holding a futures trade that long. maybe b/c i'm relatively new at it and not holding multiple millions of dollars in accounts. i think if you had so much money that the rises and falls were just a pittance and you traded just for fun, then it wouldn't seem so bad.

in reality, your way may work, but with the capitalization level of most traders, it would seem a bit scary. i know it is to me. i think smaller traders would rather do day trades, taking small losses and racking up small to medium-sized gains rather than going for the whole enchilada.

 

[princessa]

Quote from tommymoose:

I took Calc3 and Diff. Eq. within the past year and I still couldn't figure out what an Iota Lemma was in context to the trade . Could you explain a little Kingypoo?

diff eq's! i remember it well....

 

[Spooz Top]

Quote from Spectre2007:

he might be spooz top in disguise pulling our leg..

Not a shot in hell...........

 

[Pekelo]

Quote from princessa:

but it's simply difficult for me to get my mind around holding a futures trade that long.

I actually like his way of not sitting next to the computer all day, but trading longer term. My only criticism is that with this huge volatility, there are lots of money left on the table playing the intraday swings. With his account size he could hire a trader, give him/her certain rules, and make even more money.

He has been short and correct in the last 3 weeks. But there is no reason to give back 50 points gains, when even according to him there were bullish signals all over the place. Just take the profit and reload the shorts at a higher price level. His excuse of saving on commissions isn't a valid one. Commissions are dirt cheap, if you play a few times a day or week.

 

[Allen3]

Quote from storm121:

shorts are in for it next week.they have 3 days now to decide their fate, but next week its game over.

I personally know a lot of trading careers will end next week as this market starts to rally.

Its going to be fun to watch.

blackguard

Where do you find the never-ending Group of trader friends that don't know to use stops or reverse there positions? Amazing!

 

[jagmot]

Quote from elovemer:

.... putting someone on ignore does not work ..... if everyone keeps quoting the guy.....

agreed I had storm on ignore for a while but everyone kept quoting him so i just took him off. I figured it was the easiest way to also post i had a small long over the weekend...although i didn't quite post it in real time.