ES Journal Archive (2006 - 2008)

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Quote from Lawrence Chan:

Feels like summer ... no volume, jerky price action.

Cannot imagine what will happen when Olympics officially start. :)
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Ya remind me never to sit through lunch ever again.

Hopefully we can get at least one nice trend in the evening. Think i will leave the screen during 12:30 - 14:30 when the Olympics start - nauseating watching this action.

Okay here we go - lets see if we can reach 60 or break out of this downward channel on the 60min.
 
Quote from Mins:

Could be a nice trade this one Buy1Sell2.

Just hope crude does not mess things up by bouncing into the close.

Expecting at least one more move up to 59.50 and then 63.


Would like to know Buy1Sell2 why your taking a long here in regards to your strategy, are you seeing the 60min showing signs of turning here???
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Always remember there are usually at least 3 waves to every move.

That 59.50 target was tagged easily, second target would be 63 for me. Want to see how this reacts if we can reach 64 again - Friday's Resistance.

Trailing up longs very good idea here e.g. my stops on remaining longs would be at 56 here, they were moved uo from 54.75.
 
Quote from Lawrence Chan:



Cannot imagine what will happen when Olympics officially start. :)
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Why LC?

You guys (EST) may catch Beijing's night events live in the morning, so there is not much market hours overlap, NY 9:30 open is 8pm Beijing..
 
Quote from BoyBrutus:

Why LC?

You guys (EST) may catch Beijing's night events live in the morning, so there is not much market hours overlap.
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For those who watched the game throughout the night, guess how functional they are during the day? :D
 
pretty incredible.
crude drops hard, equity indexes limp, I repeat limp higher.

crude markets close regular session, equity indexes sell-off.

It was just the opposite of what often happens on days when crude shoots higher, many times, on a day when crude moves higher, when 2:30 comes around, equity indexes lift in relief that there will be no more "bad" news from the energy pits.

bizarre.

and then the ES goes to new low for the day!.

What's going to happen tomorrow ahead of the FOMC? just the opposite of normal? wild action until the announcement and then dead flat sideways?
 
Quote from vertigo3:

pretty incredible.
crude drops hard, equity indexes limp, I repeat limp higher.

crude markets close regular session, equity indexes sell-off.

It was just the opposite of what often happens on days when crude shoots higher, many times, on a day when crude moves higher, when 2:30 comes around, equity indexes lift in relief that there will be no more "bad" news from the energy pits.

bizarre.

and then the ES goes to new low for the day!.

What's going to happen tomorrow ahead of the FOMC? just the opposite of normal? wild action until the announcement and then dead flat sideways?
More...

not bizarre at all. I've mentioned many times on these boards there is close to zero correlation between crude and equities. of course most don't believe it but that's not my problem. crude selling off can be very bad if it means massive future decreases in demand.
 
I recognize that you are correct trader arb, it is just that the early session lift coincided with drop in crude and the lift in the usd/jpy

especially since there was no other news to shift the sentiment that pushed ES higher (unless you want to talk about the hedge fund collapse rumors)
 
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