ES Journal Archive (2006 - 2008)

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01-22-08 09:47 AM

Buy stopped in long @ 1297.50 with stop at the lows. I am expecting this runs up here a little. Trailing stops on longs as we should get a double bottom to test the lows again. If it runs and no double bottom then will remain long with stops trailed up.
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My trading platform did not stopped working and this always mean chop.
If we go one or other way quickly it always freezes. Watch out - this is dobule bull bear trap!!!
 
Looking to get long off 1

Cool, scaled out now.

BTW, Gold put in a very similar bullish pattern pre-FED

Going to hold 1/3 Long here as I don't see a reverse signal.
 
Quote from kinggyppo:

Here is a vix chart. Looking at the daily chart I find it interesting that the highest daily close was only $31.01, previous high daily close in november was $31.09. Bottom line is that the market soundly rejected a closing volatility over $30.00. Thinking vol may spike over 30 again but it will eventually trade to 26.
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update on vix.
 

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Quote from StockyIrishman:

Sold my long from 69.75, I hate to buy at the high, any thoughts on what good pull back to jump in on the long side would be?
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1380 would be nice and plausible low-risk long.... then ride up the 5th wave of this move and sell before shit gets ugly
 
01-24-08 02:27 PM

yes almost there, 1380. Still jockeying my position until then.

Will look to put short on 1380-1386. Will hold back to the lows. Once we break those lows into the low 1200s maybe even 1150, we will have a massive upside move. Opportunity favors the prepared mind. I don't feel they will take it to 1560-90 just yet.
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Good luck, always use risk control.
 
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