ES Journal Archive (2006 - 2008)

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05-19-08 07:23 AM

Current position:

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Quote from Buy1Sell2:

long 1395.00

Initial stop 1387.00

unit size 2
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Stop moved to 1392.50
Stop moved to 1394.00
Stop moved to 1394.75
Stop moved to 1404.00

This position was closed MOC Fri (per rules) at 1425.75 and was reopened this morning at 1425.75. Stop remains the same for now.



This trade was stopped out yesterday for gain of 9 points per contract with 2 commissions.
 
Quote from tommymoose:

I just wanted to post up a couple zones I'm making a note of. Likely retrace target for this move down is 1367-1377 IMO (1369-1372 specifically). There are a couple key fibs and wave projections here as well as the 50 and 100 day MA on the SPX. I'd expect at least a decent bounce from this level from the bulls as long as one doesn't occur before its reached. I'm not trying to load up long or anything, as I think we go much lower, but its just some support I'm noting.
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I like your projections, more so now that we have broken the rising wedge. However, wouldn't be nice to come back and test the lower TL of the wedge coming around 1420 before heading eventually lower? Of course, I'm just dreaming :)
 
Quote from ammo:

4/12 and 5/24 lows,tl res at 1400,not giving it much respect but should stop there on first test
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I have 1400.5 as daily pivot, unless it's a Siberian Express, I suppose it's quite reasonable to expect a lower gear near the pivotal :)

But 240 is in full swing, MACD & signal lines are well apart from one another at which point I bow & kiss SS's shoes for yesterday's comment, why DO we go long when p/a is bearish?
 
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