ES Journal Archive (2006 - 2008)

[gwac]

The BS just out of paulsons mouth is sending financials up.

 

[Lawrence Chan]

4 hours/hourly oversold conditions neutralized.

70s touched much earlier than I thought :eek:

Edit: thought that would be tomorrow ... underestimated the power of short squeeze!

 

[princessa]

ya, i've got today as up day, tomorrow as big downer day....

 

[princessa]

7/7/08:

Quote from princessa:

i have today as a hold day (close near prior close after ups and downs) and tomorrow as up day (close higher than open), but anything can happen.

so yesterday's worked and today's worked. let's see if tomorrow brings the short sell day as predicted....

 

[tomahawk]

Quote from gwac:

the downturn has been very orderly and has been confined to that daily channel. Going to take a lot to get through and close above. Financials need to take off.

channel tomorrow is somwhere in the 32ish to 67 ish area.

The 200ema on the hourly may be calling, around 75-76 area ... hasn't been touched since 6/25. Could be the shakeout needed before further downside.

Dow down channel does look strong though.

 

[gwac]

What will be nice is a strong open to sell into.

Taylors work very interesting.

Quote from princessa:

7/7/08:


so yesterday's worked and today's worked. let's see if tomorrow brings the short sell day as predicted....

 

[ammo]

Quote from ammo:

sh 2.5,add 4.25,add 6.5,add 8, 61 bid

taking these home, jss ,if i only had your discipline

 

[JSSPMK]

Quote from ammo:

taking these home, jss ,if i only had your discipline

I choose not to average down, in fact I am totally against it in principle. I would rather get stopped & enter higher when another signal presents itself. But to each his own. GL!

 

[smilingsynic]

For Rule of 10 afficianados: The NQ made just over a 50 point range two consecutive days:

Monday: 1804-1854.50
Tuesday: 1826-1876.75

 

[smilingsynic]

Quote from smilingsynic:


If the test of the previous day's high fails, the previous day's low is the target (likewise, if R1 fails, then the pivot point is next, and if the market fails at the pivot point, S1 is the next target).

Wyckoff springs and upthrusts are most powerful when they are at the previous day's high and low, imo.

This morning represents a successful test of yesterday's low via Wyckoff spring.

The principle that if the test of the previous day's low/high fails, the previous day's high/low is in play, was indeed in play today, as the ES hit 1275 right near the close.

Often it pays to stick to one's principles.