ES Journal Archive (2006 - 2008)

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Am watching the ES tonight and am short does anyone here think we go lower or is there a possibility for the futures to get back to even here, not sure whether I should cover or not and if we might have a repeat of last night? Any thoughts or comments, short from 1310.
 
Reason I ask is that it looks like there is descent support at 1300 and am thinking if a base is forming there for another leg up, so wavering back and forth on whether I should cover this. Yesterday the 1300 was gone at around this time.
 
Quote from Yrutman:

not sure whether I should cover or not and if we might have a repeat of last night? Any thoughts or comments, short from 1310.
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It depends on how much heat you're willing to take. With an entry at 1310, any stop thats in the money or at BE is still within the static of what could happen in AH while still having a big down day tomorrow. You'd need your stop at at least 1314 to have it out of the static IMO. However you've got potential to catch a real ripper to the downside if you hold on... its your call. It all depends on what your intentions for the trade were.

FYI I'm biased since I'm short with my stop just above todays highs, but on a swing-trade timeframe... all depends on your intentions.
 
Short ES 1324.50 (rule of 20).
Short ER2 688.90

Edit 1: scaled out ER2 687.10 +1.8

Edit 2: scaled out ES 1322.50 +2

Edit 3:
out ES -0.5
out ER2 +1.2
 
03-13-08 01:27 PM

March broke 1312 now. Out of those longs, black will hold. Building short position now.

Black will look to hold to 1334.
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If we get to 1334 within the first half hour or so of trading, look out below.
 
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