ES Journal Archive (2006 - 2008)

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Quote from Spooz Top:

mbusch......did you take the cheese or were you able to resist?
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Took the cheese. Went short 1/2 position right at the close at 1326. Looks like we're down about 4 since then (1322). Looking to cover somewhere below 1320, possibly before the Wednesday open.

I expect Wednesday to be a second up day, reaching a top in the 1340s, but unfortunately I'm gone most of the day so I won't be able to trade it.
 
Quote from princessa:

1. up tomorrow
2. flat for 1-2 days
3. down hard; target: 1150-1200
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Sounds about right, although I'd be really surprised if we get to 1150 without one or two impressive bear-market rallies along the way.
 
Quote from princessa:

good call, dude....
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thanks, I find that if I feel impulsed enough to actually make a "prediction" in the journal theres a good chance it'll happen. Its a mental thing I have to keep in mind.

I pretty much agree with your analysis for the next few days also. This is what I'm thinking specifically -

We still need to make a 5th wave down (the counts starting at 2/1 and also 2/27) I see this rally we're in now puttering out either at 1327.50-1330 or 1334-1337 if they wanna take this thing down to new lows. If they do, my target is 1250. However, if the bulls can tear though that 1327-1337 area, I don't think they'll stop for another 20-30 points at least and I've got to rethink the wave count.

Dont mind me, I'm just keeping track of my thoughts :)
 

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I agree with 1&2, but next Monday will be boring.
3 won't happen until Fed day (next Tue), maybe up, maybe down. Next week is OE week. After next Tue&Wed big move, next Thu, Fri should be boring, too.

Quote from princessa:

okay, here's what i expect:

1. up tomorrow
2. flat for 1-2 days
3. down hard; target: 1150-1200

the second step may be skipped, leading to a huge drop on the third day (i.e., day after tomorrow).
the third step is a somewhat wide range, but depends on how cagey they want to be and where you think the measured move is. also, oe next friday means they reverse course next week early on (tuesday or so, give or take a day).
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Quote from volente_00:

I'm looking for failure at 30- 34 if we get there. charts and options support the failure.
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1334 is the gapclose on the cash from last week. Nice 1320-1330 move overnight...

P.S.: Since this is 2nd upgap in a row, gapfill should be expected...
 
Quote from volente_00:

I'm looking for failure at 30- 34 if we get there. charts and options support the failure.
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my second target was tagged to the tic on the overnight/ 6 am @ 30.50.

i expect gap n grind allllll dayyyyy loooong.
 
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