ES Journal Archive (2006 - 2008)

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Quote from fearless9:

There we go OT, but it is a weak breakout so far

regards
f9
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I'm not saying we can't rally. I'm just pointing out that there is no classically defined chart support at 1340 ES. It wouldn't be the first time that we bottomed at a point where there was no chart support. Chart support is not necessarily the same point that buyers show up.

OldTrader

EDIT: By the way, I'm expecting much lower prices. It doesn't have to be today though, and it doesn't bar a short term bounce.
 
Quote from iloveoptions:

I have yet to meet a daytrader with verifiable track record that is consistent in the SP over a period of 5 years. If you know of one, please let me know :)
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LBR

Edit: Not many people can.
 
Quote from iloveoptions:

The only entities/groups that have a real edge over the long term are as follows (Listed from highest to lowest degree of edge);

1. Brokers.
2. Diversified long term investors.
3. Seminar organizers.
4. Market software developers.
5. Advisories and Market newsletters.
6. Daytraders.

Notice, daytraders are at the bottom of the food (edge) chain. Diversified long term investors have a much higher edge and fewer commisions. I have yet to meet a daytrader with verifiable track record that is consistent in the SP over a period of 5 years. If you know of one, please let me know :)
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Are you including market makers in the brokers section?
 
Quote from OldTrader:

I'm not saying we can't rally. I'm just pointing out that there is no classically defined chart support at 1340 ES. It wouldn't be the first time that we bottomed at a point where there was no chart support. Chart support is not necessarily the same point that buyers show up.

OldTrader

EDIT: By the way, I'm expecting much lower prices. It doesn't have to be today though, and it doesn't bar a short term bounce.
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dow hit a daily support 120, oex 2/4 and 3/25 highs, hit line also, 612,oex is top 100 out of 500 es stocks, its not bouncing much either
 
Quote from OldTrader:

I'm not saying we can't rally. I'm just pointing out that there is no classically defined chart support at 1340 ES. It wouldn't be the first time that we bottomed at a point where there was no chart support. Chart support is not necessarily the same point that buyers show up.

OldTrader

EDIT: By the way, I'm expecting much lower prices. It doesn't have to be today though, and it doesn't bar a short term bounce.
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Around 10:30 ( little before actually) the buyers started pounding the ask and chipped away the sellers advantage.

The sellers attacked again lightly around 10:46 and at 11:48 they attacked in force.

1340 held and so it was reasonable to assume a buy at this level with a 3 tic stop had a good chance of success.

regards
f9
 
Typically, daytraders have a shelf life of about 8-12 months (a lot though much less). The higher the leverage a trader uses, the quicker the blowout, especially when they're trading a market as chaotic as the S&P, and that is why the long term investor always trumps the daytrader over the long haul.
 
Quote from iloveoptions:

Typically, daytraders have a shelf life of about 8-12 months (a lot though much less). The higher the leverage a trader uses, the quicker the blowout, especially when they're trading a market as chaotic as the S&P, and that is why the long term investor always trumps the daytrader over the long haul.
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Dear boy, you are pure entertainment.

All this diatribe from an author who proudly claims never to have meet a successful daytrader.

regards
f9
 
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