ES Journal Archive (2006 - 2008)

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connect 1/23 and 2/07 lows, line comes in at 1371, fib fo r1563-1271 move, 1365 is 38% retrace and 1396 is 50% retrace,still think we' push to 1380 and maybe 1396 and then reverse,may not make it all the way since we're all watchin the same movie,either way i think we top out today or tommorrow and reverse, 1365 to 1371 is a battle right now, those no.s are on spx cash
 
Quote from kinggyppo:

watching the market tick up here, is bad news good news now, maybe the big boys are changing the algorythm. long here small size.
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covering here + .20. spy chart.
 

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Quote from gwac:

opt

They are correlated right now because of the risk factor. When stocks get bashed, risk adversion sets in and JPY carry trade gets unwound.
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I don't disagree with that at all. That fact along with others leads me to believe they will be continued to be correlated for a little while.
 
Quote from kinggyppo:

watching the market tick up here, is bad news good news now, maybe the big boys are changing the algorythm. long here small size.
More...
"Year over year, the PPI is up 7.4%. This is the fastest pace since 1981. Over the same time period, the core PPI is up 2.3%"
"U.S. foreclosures rose 8% in January compared to December and nearly 57% from January 2007"
"Swiss banking giant UBS is likely to face a frosty reception from shareholders at a Wednesday meeting to approve its capital injection, as calls for a break-up or restructuring continue to circulate amid fears that there may be yet more write-downs to come"
"The Federal Deposit Insurance Corp. is taking steps to brace for an increase in failed financial institutions as the nation's housing and credit markets continue to worsen"

These are some current headlines, but all bad news is being ignored and the good news on the insurance companies is being taken as saving the entire economy. Isn't the market fun?
 
Quote from smilingsynic:

To be frank, most traders would be lucky to average 1 point a day.
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I agree. My point was that big absolute numbers don't mean much if the average win is small. It shows more about the trader being gutsy, than being able to trade well.

Having guts is good though, until one steps in front of the train...
 
did you see the story on msnbc after fri close, a guy in boca raton, fla. hasn't paid his mortgage since 02 and when they try to foreclose he asks them to prove that they hold the mortgage, they can't
 
opt

You want to have some fun, trade JPY/Nzd or JPY/AUD. Pull up a year chart and check out when the market unwinds the carry trades.

Quote from opt789:

I don't disagree with that at all. That fact along with others leads me to believe they will be continued to be correlated for a little while.
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