ES Journal Archive (2006 - 2008)

[MandelbrotSet]

Quote from Buy1Sell2:

I know what a bull flag and bear flag are. The chart I was referring to was the very short 2 minute chart that a lot of folks here look at, not the 60 minute chart that I rely on heavily during the day.

LOL, I realized that when I posted the tag. - LOL some more, talk about speaking differnt versions of the same dialect.

***

This Opening is sooooooooo bogus, they're going to drop it down hard as soon as they're fully positioned with their shorts.

 

[OldTrader]

Quote from Buy1Sell2:

Remaining short here. Stop will stay at 1285.00 for today. This will lock in roughly 135 pts on this position trade if the stop is hit.

If daytrading, I will be only looking at the short side for now. If a trade doesn't present itself, as it didn't Friday, then I stay on the side. One of the major keys to trading is to be patient and take the good signals. Another major key is to get out quickly when wrong. This last one is more important than getting direction right and I employ this rule steadfastly.

You mentioned "triple bearish divergence" Friday. You also used the word "signal" when referring to this "triple bearish divergence". Was this not a trade?

OldTrader

 

[Buy1Sell2]

Quote from OldTrader:

You mentioned "triple bearish divergence" Friday. You also used the word "signal" when referring to this "triple bearish divergence". Was this not a trade?

OldTrader

No, there was no trade. I was just speaking of the 2 minute chart on Friday. Personally, I would never trade anything less than the 15 minute chart. I did make a trade earlier in the day that netted .5.

 

[vertigo3]

60 min bearish wedge?

 

[kinggyppo]

Quote from Buy1Sell2:

Another major key is to get out quickly when wrong. This last one is more important than getting direction right and I employ this rule steadfastly.

Agree completely with this statement, by the way who do you think was behind this story:

http://uk.reuters.com/article/marketsNewsUS/idUKN1841297520080718

 

[kinggyppo]

Here is a chart of BAC went from 18 to 30 in a week, must be those awesome earnings!

 

[Lawrence Chan]

Quote from kinggyppo:

Agree completely with this statement, by the way who do you think was behind this story:

http://uk.reuters.com/article/marketsNewsUS/idUKN1841297520080718

I am very interested in the outcome of that too.

I wonder if those stocks would be not available for borrow most of the time during this "testing period" ...

If so, my guess is that 1200 and below here we go

 

[Lawrence Chan]

4th day the previous day close holding up ... another rabbit ?

 

[vertigo3]

LC,
pardon my ignorance.

could you please offer a little of the rationale for under 1200 (related to SEC short-sale jazz).

as to current intraday market,
even though there is a (what appears to me to be a bearish wedge on the 60min), but the lower TL has not been broken. Price intraday might have to push deeper into resistance and print 71.50-74.00 before reversing.

 

[kinggyppo]

xlf anyone see a pattern here?