ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

Tommy,

If you're trading the NQ--1881-1883 looks like a good place to bottom fish. On strong down days, the NQ often stops, at least for a moment, after a 50 point decline from the close (1931.50-50= 1831.50).
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IMO, any longs taken here (like the ones I took, or ES trades taken under 1300) should be held as swing trades, not intraday trades.
 
Quote from smilingsynic:

IMO, any longs taken here (like the ones I took, or ES trades taken under 1300) should be held as swing trades, not intraday trades.
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Yeah, I agree, at least EOD. I had it as larger support position, but I am not positive why I marked it as so (I'm traveling right now, heads not all here). Do you know if this is the 78.6% retrace on the S&P cash?
 
Quote from tommymoose:

Yeah, I agree, at least EOD. I had it as larger support position. Do you know if this is the 78.6% retrace on the S&P cash?
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No, I only do retraces in 1/2's and 1/3's (not a Fib fan!0.

For rule of 10 afficionados: 1297,25 is right around forty points (10X4) down from yesterday's high.
 
78% (no .6 included ) for cash is roughly low 1297.XX like 1297.10

here are the numbers, tommy, you can calc.

cash SPX
H was 1440.24,
Low was 1256.98
 
Cool, thanks... looks like this is going to be the mandatory 78.6 bounce.... off the daily chart, this should be significant. If its not, thats some scary downside pressure.
 
Quote from smilingsynic:

IMO, any longs taken here (like the ones I took, or ES trades taken under 1300) should be held as swing trades, not intraday trades.
More...

Swing trades, because of the greater risk they impose, should be put on in smaller size than intraday trades. JMO.
 
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