ES Journal Archive (2006 - 2008)

[Pholeuon]

Looking at crude, gold, euro and bond action it looks to me that we stay in chop or go a higher but not a lot (next few hours).

 

[Lawrence Chan]

28 can be the target price for today.

Edit: Both RTH and 5000-tick shows a big diamond formation, thus the break out from here can be very powerful.

 

[ammo]

bernanke's statement that their will be a mortgage announcement for a new plan being implemented on monday is bullish

 

[pulsescan]

Down trend channel is still intact. Although we are oversold on the 60min chart in ES I expect a hard support will be in place by Friday before we see any decent retracement to the upside. Remember, the ES is still trading below the original 52 week low so there is plenty of downside momentum built into this decline. I suspect that any attempt at a rally will be met with much selling.

Still holding shorts here.

 

[ammo]

52-56 was the value area(nip ) on tue,should be congestion here

 

[smilingsynic]

The zone between the rth daily pivot and the overnight high is for intraday selling.

This market reminds of the LTCM days. Gee, maybe we'll get that 1150 sooner than I originally thought. At this moment, it would appear that VIX 30 is a good place to start building a long-term long position.

 

[Spectre2007]

the market will continue to be sold hard... at every rally, since it takes time to repair the damage in the Economy. Also the damage can become even more amplified, since the consumer credit bubble, is also at risk of popping, and declining growth even more.

it will take a couple years for this to work itself out. By then we could be below 1000 in spooz.

 

[JSSPMK]

S1257.75 off 2 + resistance on 15, s~2, h/s+10

Scaled out 2/3 +2.25

I think I would like to be greedy with this one, letting it run for now

 

[gucci]

Quote from Spectre2007:

the market will continue to be sold hard... at every rally, since it takes time to repair the damage in the Economy. Also the damage can become even more amplified, since the consumer credit bubble, is also at risk of popping, and declining growth even more.

it will take a couple years for this to work itself out. By then we could be below 1000 in spooz.

Spectre, interesting opinion. The problem, the developed world might be facing now, is not the lack of time but the lack of external or internal shocks which must be strong enough to shatter the old and gridlocked structures and launch the economic circulation ab initio.Regards.

PS: The implications for the spooz are derivable

 

[smilingsynic]

Quote from smilingsynic:

The zone between the rth daily pivot and the overnight high is for intraday selling.

Zone 45-48.50 is for buying to cover intraday.

Not looking for swing trades or long-term trades today and probably not tomorrow, unless I see capitulation (sky-high TRIN, 30+ VIX) . The heavy tape portends something.