ES Journal Archive (2006 - 2008)

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Quote from volente_00:

T day crew has their flip flops on today




Quote from volente_00:

Since you guys love to back test.

Run this one and see what you come up with.


Fed flip flop theory.

On days following the FOMC, the theory is the market will do the opposite of what happened the day before.


:eek:
 
Quote from wave:

MAJOR MARKET CORRECTION ALERT.

The bottom of this next leg down will be the bottom to buy and hold long.


What was wrong with the 1250's ?



1% chance this goes under 1250 from here to year end.

99% chance you see 1468 between now and year end.

But we are getting mighty close to the top of the trading range.

Back to the 70's or back to mid 40's if the bears get lucky.





Quote from volente_00:

anyone watching the IHS setting up on the longer chart ?


http://finance.yahoo.com/q/bc?s=^GSPC&t=6m


Here is how I think it can play out

To put in the right shoulder, this fails 1380 -1400

Then back down to ~1320

Then rally 1418 to test the 200 day, then 1468 -1480 later in the year.



Both current and further out option interest support this happening.
 
Short again at 1413.25.

Smaller size on this one as my stop is 1425.50 and holding through the unemployment numbers. (in case we see a small stop run head fake) Once everything settles I will be looking to add to this short and tighten up my stop.

Ps. I'm by no means a stubborn bear, as all of my trades have been short. My system tells me that 1400-1420 is a great risk reward, max risk 20 points for possible 100 points per contract.
 
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