ES Journal Archive (2006 - 2008)

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Quote from vertigo3:

wave,
I'm sure I know the answer to this, but I just think it should be clarified.
in the quote below you say "They will try to take it under 1377 first, then back to 1250, then 1200."

Should that 1250 be 1450?

If not, could please elaboarate a little on your expectation for the price action.
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1377 and under will give you a pop in the market. Get everyone scared and take it back toward 1420 for another push down.
 
Quote from Buy1Sell2:

Most new/inexperienced traders make the mistake of putting larger size on for a daytrade. This is exactly backwards of what should be done.
:)
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Well there you go.
After twelve years of hard work and trial and error, not to mention trial by fire, I am right back where I started.

regards
f9
 
I have bullish divergence on a oversold daily leg, ...I am calling a bottom here, we should hold and not go any lower than 1370.00, lets watch...
 
Around 1378 the SPX hit the lower BB (daily) and the Williams is also at -100, time for a bounce.

1380 is the Rule of 10 long entry...

Edit: didn't work...
 
I'll mention this only as an observation, nothing truly technical.

This is a friday before a 3 day weekend.

traders who came to trade and got short made money.

What better way to head into the weekend but close out your short-trades and leave for the weekend at lunch with a big wad of money in your pocket.

psycholigically, the market seems ripe for some sort of rebound.

just a thought.
 
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