ES Journal Archive (2006 - 2008)

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Quote from JSSPMK:

You don't trade Gold? It's as trendy as crude ImO
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No, no gold intraday. Imo, crude has more liquidity, is more directional, and is less spiky (I'm not talking about the etf GLD vs USO; I'm talking futures).

Still, crude does not have near the liquidity of ES. It is difficult to fill more than 5-10 CL at a time without slippage (a little slippage here and there adds up, in the long run). Hence, I cannot see myself trading CL all that much longer.
 
Quote from storm121:

max pain is at 1370

but 1380 or 1390 a viable targets as well

thses weeks are truly a gift.its like a bundle of money falls out of the sky and lands in your lap.I feel sorry for anyone shorting this open.
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Max Pain hasn't worked since... ever.
 
If SP choose to run up today to eventually fill the 2 upside gaps, we would see the swing high back in beginning of Feb.

But then the gap we left here today will be the next unfinished business. :)
 
Quote from polpolik:

Max Pain hasn't worked since... ever.
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You are right is does not work. It is not about causing max pain.

Ask the big writers of puts about the 131- 133 strike last month. The got underlying put to them but with premium adjustment their basis was 128 -131. What has the s&P not closed under since last option expiration ?














1310



coincidence once again I guess.
 
Leaving a 1370.00 MIT short order up with a stop at -3.75pts in case we should get up there within the next couple of hours.

When back at the screens without any trade yet, I'll cancel the orders and look for a 15-min reversal signal before considering going short.
 
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