ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:


Long 5 contracts 1256.75

Initial stop 1248.50
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A little housekeeping here: I exited out late Fri at 1258.50 as I don't hold ES long over the weekend. As you can see from the post this morning, I am long again.
 
Quote from tortoise:

i'm finding the confluence of friday's value area low with the 38.2 retrace of July's range to be of interest...Both are at 1256.50. We've tested it once this morning. Now we're testing it again.

On the other hand, there's a fair amoung of congestion as we move up to 1260, so I suppose this could be fairly described as "no man's land," a staging ground for a strong breakout in either direction.
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IF 1260 and below is accumulation area, we should see 1290 or higher by tomorrow, especially after Fed announcement.

Edit: The 2 day VWAP at 68-69 is a strong attractor.
 
Quote from Lawrence Chan:

USD gaining grounds against euro and yen.

But all indices are weak from Asian, Europe to globex ES and NQ.

Puzzle :confused:
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why is that a puzzle? correlation of dollar strength and index strength isn't all that great. If something else is causing the dollar to rocket/collapse, then that is a different issue, but minor fluctuations don't mean much.
 
Quote from princessa:

last night i was looking at the es...it was at 65. i was thinking of taking a long and riding to 71 or so. i told my husband about it, but said i was afraid to take it b/c the 830 news could make it go awry. he said, "how much money will you make if it works?" i told him. he then said, "what happens if it doesn't?" i told him "i lose a bunch" he said don't take the trade, so i didn't.
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How many guys would have listened to their significant other in the same situation ... not too many, that's fer sure.

Food for thought.
 
Quote from Lawrence Chan:



Edit: The 2 day VWAP at 68-69 is a strong attractor.
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...which happens to sit, almost precisely, at Friday's DDF (bisection of opening 5 minute range)
 
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