ES Journal Archive (2006 - 2008)

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'Long 10,000 ES @ 122XXX...
More ammo and troops in the trenches waiting for action.
Interesting sentiment on desks...:thumbsup:'


lol, from one of my friends email.

just saw it now.
 
Quote from wave:

Keep 1226 in your head. Bulls started feeding here. They will keep buying on the way down and sure enough it will go back to 1226.
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You get that 1226 signal from a rule of 10 off yesterdays low ?


:D
 
Quote from kinggyppo:

Here is a monthly spy chart, that double bottom broke at 126.00. How much of a retrace will be forthcoming? A 50% retrace from the top at 157.52 to the beginning of the bull run in '03 would be 117.12 ouch.
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I have my own way of doing retracements, and I see ES 1202.25 being pretty close to the end of the decline, for now, 1150-1180 later. After that, we're going to have to wait and see if this recession becomes much more than just a recession. If this becomes like 73-74, David Tice might end up being right, for a change. :)

Wave said buys below 1230--those should be worth 90-some points between entry and Labor Day.

The 2000-2002 bear ended up being almost exactly a 50% retracement on the SPY (yes, I was there--I've been at this since 1995). 117 SPY would be a 50% retrace, approximately, of the 2002-2007 bull rise. If the recession becomes a 70's era recession, then 117 will not be the bottom, obviously.
 
Quote from Spectre2007:

posted at 2:34 ET time..

check what happpened afterwards.. :)
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Spectre,

do you watch xlf lately every time you trade ES or was there something in particular today that attracted your attention? It was a timely warning.

thanks.
 
Quote from Anna K.:

Spectre,

do you watch xlf lately every time you trade ES or was there something in particular today that attracted your attention? It was a timely warning.

thanks.
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financials are a significant part of the sp 500 calculation..so watching xlf gives you an idea of the overall bid.

any news event or leak in terms of freddie and fannie would have manifested first there as a sector.

also hearing that the significant portion of losses intraday were recovered, was also a tipoff.
 
Had a drink with a bloke that works for Shell last night, his firm opinion is that there is absolutely no problem with supply & that at current demand levels there is enough for at least 150 years of what's known already, excluding new fields being found. Regarding current prices of futures all he said that it's just "fun & games" & more to do with stability of the USD, rather than demand driven, adding that OPEC is not that interested in extremely high prices as that would ultimately lead to governments (G8) pushing forward developments of alternatives to oil.

I got a word that Fannie Mae Freddie Mac will be going into liquidation tomorrow? Anybody esle heard anything about it?
 
If they go into liquidation so will the s and p.

Quote from JSSPMK:

Had a drink with a bloke that works for Shell last night, his firm opinion is that there is absolutely no problem with supply & that at current demand levels there is enough for at least 150 years of what's known already, excluding new fields being found. Regarding current prices of futures all he said that it's just "fun & games" & more to do with stability of the USD, rather than demand driven, adding that OPEC is not that interested in extremely high prices as that would ultimately lead to governments (G8) pushing forward developments of alternatives to oil.

I got a word that Fannie Mae Freddie Mac will be going into liquidation tomorrow? Anybody esle heard anything about it?
More...
 
Quote from gwac:

If they go into liquidation so will the s and p.
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A high profile bankruptcy, bigger than IndyMac, should induce panic selling and margin selling and hence mark an intermediate bottom.
 
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