ES Journal Archive (2006 - 2008)

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on the first up day, the smart money is buying


on the second up day the semi smart money is buying more


on the third day of the move, the dumb money is puking their short positions and buying late to the party as the smart money starts lightening up into this covering.


On the fourth day, the dumb money will be forced to puke their longs on the orchestrated down move from the smart money.
 
120 is a screaming sell & with metals carrying on charging ahead & perhaps crude going higher today. Silver almost at $20, who would have thought? If I remember correctly Romik was going on about it, kudos mate!
 
Quote from JSSPMK:

I have a feeling that stock markets might tumble today, just look at commodities JEEZ!
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I have a feeling commodities will come crashing down hard soon.

that will be a big plus for the stock market.

commodities are where real estate was 2-3 years ago.
 
Quote from regal_2012:

I have a feeling commodities will come crashing down hard soon.

that will be a big plus for the stock market.

commodities are where real estate was 2-3 years ago.
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There are different reasons for real estate going up & commodities

Scaled out +4.5
 
One of main reasons that commodities are rising is that US dollar is going to hell.
Rest of world is losing patience with US dollar. If you look on crude oil price in Euro they are rising just symbolic. So until the US dollar will not recover commodities prices in US dollar will not crash.
 
ImO Citigroup looks like a solid buy right here for a swing trade, weekly histo is turning bullish, near the lows, I don't trade stocks though.
 
Quote from RsX:


A sweet re-entry with the trend would be at 1371-1374 area after at least 10-min confirmation bar, but I doubt they're willing to hand that gift anymore.. trend's getting stronger and should get to that 1392.50-1396.50 quickly from here.
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ES is about to enter to that 1371-1374 area.. Looks a bit suspicious, but a plan is a plan and I have to follow it.

Placing an order to buy 1372.75 with a modest 3pt stop.

EDIT: filled 1372.75, stop remains at -3.00pts.

EDIT: a few notes to add.. the 1383-1387.00 area indeed proved quite a resistance for the first attempt, but I would expect a test of 1384.00 again. So the current target would be 1383.75 or +11.00pts.

If they take the ES to 1370.00, then it'll probably go lower and to the S1 (1368.00) as well, so that's why I'm using a tighter 3pts stop. No point to use a wider one if you know exactly where you're wrong. This time I have a pretty good idea.
 
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