ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

Not interested in buying dips at this point (swing trading, not intraday) until the 40's.
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I think we need a bounce in this area 56-60 to create the right shoulder (for the mkt to drop below 1200), or, higher low (for the mkt to go to 1300+) ...

Dropping to 40s area may equals congestion for the rest of the summer.

Is that what you are expecting?
 
Quote from Lawrence Chan:

I think we need a bounce in this area 56-60 to create the right shoulder (for the mkt to drop below 1200), or, higher low (for the mkt to go to 1300+) ...

Dropping to 40s area may equals congestion for the rest of the summer.

Is that what you are expecting?
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What I am expecting at this moment is a gap fill (1240 area, from 7/17) and therefore a shakeout that will serve as a bear trap, after which the market will hit the 1320's by Labor Day.

That said, I rely heavily on conditional probability, and if conditions change, so do my expectations. Most of my trading these days is intraday, since that is my strength.

EDIT: In addition, the 1240's represent a 50% pullback from 1200.75 to 1291.25.
 
Quote from smilingsynic:

What I am expecting at this moment is a gap fill (1240 area, from 7/17) and therefore a shakeout that will serve as a bear trap, after which the market will hit the 1320's by Labor Day.

That said, I rely heavily on conditional probability, and if conditions change, so do my expectations. Most of my trading these days is intraday, since that is my strength.

EDIT: In addition, the 1240's represent a 50% pullback from 1200.75 to 1291.25.
More...


Rule #1 -- Never fade the smiling one...

But that gap from the 17th was filled, wasn't it? Looks like it on my chart
 
Quote from volente_00:

WHEREDEMBOYZAT
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Sorry, but:

Pekelo >>> T Boyz!!! :)

I guess we have reached the 20-30 pts range from 1287.... (1259)

Quote from smilingsynic:

What I am expecting at this moment is a gap fill (1240 area, from 7/17) and therefore a shakeout that will serve as a bear trap, after which the market will hit the 1320's by Labor Day.
More...

I like this plan: 1240 is where the lower BB around and 1320 where we have a leftover downgap to be filled....
 
07-24-08 09:07 AM



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Quote from Buy1Sell2:

Short 10 contracts 1279.50

Initial stop 1300.75
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Stop remains the same for now.
Stop stays the same for now
 
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