ES Journal Archive (2006 - 2008)

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Quote from avarus:

Avarus is not Gordon Gekko. But you get what you put in in life and some just get lucky or inherit trusts. I've worked many years in corporate america and most of the average americans know more about useless stuff and less about econ, markets, etc., and yet they claim to be geniuses when they make money in a bull market and whine whey they lose. Go figure.
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amen.

i would add that, although we're crashing now, i think it's short-lived and the bull will out eventually. then the average american will cheer, gwac, so all is not lost....

right now, we need to let the bear play out. average joe who believes in buy and hold or simply lets the money manager rule the roost will be okay in the end when the market recovers, which i believe it will sooner rather than later. also, if mutual fund manager bob has even a few brain cells working, he will buy more on these lows and thereby make investor joe some money.

if you look at historical charts, 2000 crash took awhile to recover, but that one was special. 1987 crash only took 18 months. the real risk comes to those who panic out of the market in the midst of the crash and don't get back in or get back in too late. they truly lose. but i don't think most people are in that camp.

lastly, i would say that those of us who are expecting a crash and cheer as the big boyz play out the scenario are only cheering because we are pleased that we read it right. i don't think any of us really want people to get hurt or the economy to go through recession/depression, but if it's going to happen, we want to play it right. recessions are inevitable. as traders, we simply try to capitalize on what's happening, whether it's up or down, bull or bear.
 
Quote from JSSPMK:

Stopped 1/3 at b/e, that was some bazooka type p/a :)

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1834231>



Short 1297.5 off 1

Scaled out +4
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1/3 +0.25
 
Quote from ryank:

High this morning was 1336, low was 1279.75. That is a 4%+ drop in about an hour. This afternoon will get really interesting. I made good money this morning on the move so I will go play with the kids for the afternoon and stay out of the way of this market (until Monday morning that is).
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i`m talking March contract.......still working the H.
 
I can not help me but this price action looks to me like we are heading up. This is not panic. "They" are lifting it with such ease, it is not anymore heavy compared with action several weeks/months earlier. Volatility - yes, to get every average player from position. But I really doubt about crash - unless something like BSC or City will go belly up.
 
Quote from Pholeuon:

I can not help me but this price action looks to me like we are heading up. This is not panic. "They" are lifting it with such ease, it is not anymore heavy compared with action several weeks/months earlier. Volatility - yes, to get every average player from position. But I really doubt about crash - unless something like BSC or City will go belly up.
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but 3rd failure swing nevertheless now
 
right now everyone is expected a massive move lower and massive increase in volitility........but we have a fed meeting on tues........so we may just move sideways going into tue..........then who knows maybe bulls may use a 75bp cut to smoke the bears with a jam up to 1357 where the 50 ma is......but at some point we must close below 1250 cause we're still in a bull market right now which is laughable considering the fiscal crisis right now.
 
Failure, failure, Ok. But look on lifts dozens points in few minutes. Falling - yes, this gets quickly. But behind such enormous moves up must be some real power.

Think we all. They have no interest lift market and let longer term players with safe positions. They need unstable positions, those can be stopped out,etc.

They need make a big turn that way so safe positions will stay in theirs hand.
I wonder how is possible to do it but after my opinion turn it in the moment when majority will be afraid catch the train in time. So after my opion the market can not turn in moment when everybody is expecting it.

Everything above is true if "they" have enough power for longer turnover of the market direction. If it is true I do not know, but I think it is time for it.
Election, everybody bitching how bad it will be... And the market is not falling anymore like drunken sailor, again and again, it is more like stuntmen falling - spectacular but wiuthout real danger This way I feel it. I believe the end of bear market is close. There can be some end giant stop run, jump back and than slow crawling up stopping by ocassion every long longterm position.
 
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