ES Journal Archive (2006 - 2008)

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Quote from Lawrence Chan:

We could be in the beginning of forming an important bottom here.

Notice there are willing sellers no matter how low it gets.
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Bearish weekly lower TL points to 1225-30 on SPX ImPO
 
Quote from Lawrence Chan:

We could be in the beginning of forming an important bottom here.

Notice there are willing sellers no matter how low it gets.
More...
its only a half day so far,but the wind seems to be dying down, p.s. thnx for the laugh jss
 
What I am thinking of is a 1 to 2 week base building process.

So we have the first low from yesterday, swing it up, then slam it down.

Could be extremely wild in the swings before it is done.

By that time, a new low around 30 is nice.
 
Quote from smilingsynic:

Regarding this post from last week: these orders are still there, albeit at less size than intraday trades, as overnight positions entail greater risk.
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Congestion = lunch = a few minutes available to post.

Overnight, the low was right at S1, where it bounced. If the market challenges S1 and does not break through, the pivot is in play, and perhaps even R1.

I am not looking for 80 points at this point, as I still do not see the signs of capitulation. Today looks like an inside day in the making, at least in terms of 9:30-4:15 trading. Stop is at breakeven + 1 (1339.25), and I have a limit sell order at 69 (70 is not bad a target, but not as good as 69!--RIP, George Carlin). :)
 
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