ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
With the Comps having made up all of their losses, the Dow and the SPX following in hot pursuit (and it's barely 10am), I don't think today is going to be a good day to go Short. :eek:
 
Quote from smilingsynic:

OK, I have a few minutes to talk about the long term position I put on this afternoon (avg of 41).

At this point, it all depends on the strength of tomorrow's bounce. When the market closes at the bottom of the daily range (bottom ten percent), the market the next day tends to retrace 1/2 the previous day. Sometimes, though, the next day will retrace the whole thing.

If the market looks tentative and weak around the daily pivot, I'll get out with a small loss/gain and wait for lower prices.

Longer term, I do best when I buy weakness and sell strength. Intraday, I do best buy strength and sell weakness.

Please remember, this is for longer-term positions only. Intraday trades need to be exited before the close. It is a bad habit to let a short-ter,m trade turn into a longer-term trade (as I learned back in the mid 90's with that dog BOST).
More...

1/3 taken off at 48. If it goes lower than 30, the rest will be exited on a rally. There are lines of resistance at the 52-54 area; if it hits that area, the rest will be moved to breakeven stop.
 
Quote from Xuanxue:

I'm fading you carrot stick following gimps at 55 with size, as will all institutions.

55 to the tick. Look for it.
More...
lighten up francis(cold)
 
Status
Not open for further replies.
Back
Top