ES Journal Archive (2006 - 2008)

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We are going to get the higher open, then i think they are going to hammer this thing down.

Quote from volente_00:

gwac, is 58 high enough or do you think the t day crew wants 61 before the reversal ?


personally I see a h and S setting up on the daily from 58 area for shoulders.
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IMHO freddie and Fannie are going to lead this market down and then when the fed does something to save them the market will surge. The fed cannot have them go down and have 5 trillion added to the feds debt.


Quote from gwac:

freddie down another 8% this morning...
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Lawrence

Watch freddie and Fannie, may cause the panic that everyone is looking for.

Quote from Lawrence Chan:

What if we get a gap down instead of gap up in the next 45 mins?

That is way more unpredictable ... :)
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Quote from gwac:

Lawrence

Watch freddie and Fannie, may cause the panic that everyone is looking for.
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Usually, after a big run day (up or down), we go sideways ...

Pivot range too wide, moving averages too far away etc. = no trade for many

BUT, once in a while we get runaway gap after a big run day, that becomes very unpredictable as we do not have enough historical data to find a bias.

Personal bias was bullish from the 38-50 long several days ago. But then the failure to take it higher yesterday killed the bias.

Edit: I am an extremely short term trader so my opinions change faster than I type :)
 
This will not be a normal day, 2 companies with 5 trillions dollars of debt on their books are technically insolvant.

Freddie is now down 15% this morning. This is going to be a bloodbath unless the fed rescues them.


Quote from Lawrence Chan:

Usually, after a big run day (up or down), we go sideways ...

Pivot range too wide, moving averages too far away etc. = no trade for many

BUT, once in a while we get runaway gap after a big run day, that becomes very unpredictable as we do not have enough historical data to find a bias.

Personal bias was bullish from the 38-50 long several days ago. But then the failure to take it higher yesterday killed the bias.

Edit: I am an extremely short term trader so my opinions change faster than I type :)
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