ES Journal Archive (2006 - 2008)

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YM & NQ both dropped approximated 2.3%

ES declined 3.4%

This doesn't bode very well.

FYI: CNBC reports that Lehman is announcing its quarterly result imminently that could move the market AH.
 
Quote from pkts:

I'm blown away by how few people are posting !

Are people not trading this or are they just too BUSY trading it?
More...

Beginning of Sep is school year start.

I myself is busy and cannot watch the mkt from 3 pm ET until may be end of Sep.

So are many others.

Trading style during this time would then be swing trades only for many.
 
Quote from pkts:

I'm blown away by how few people are posting !

Are people not trading this or are they just too BUSY trading it?
More...

Too busy for the most part intraday.

I got a long from 1227.50 but for journal purposes we can use 1228.50 since I'm a little late posting.

Targets 1249 and 1262.
Stop 1208
 
Crude down $40 since Pekelo's peak oil post !

07-13-08 09:06 PM Quote from Pekelo:

Quote from JSSPMK:

... Shell last night, his firm opinion is that there is absolutely no problem with supply & that at current demand levels there is enough for at least 150 years of what's known already, excluding new fields being found.


Please don't get me started on peak oil, because once I start I can't stop!

rather than demand driven,

He should realize that demand (well, usage) can not be more than supply. Supply has been pretty much the same since 2005 May even with prices quadruplying...What does that tell you about extra supply?

adding that OPEC is not that interested in extremely high prices

At this point it is out of the hand of OPEC and seriously, why would they sell more barrels for less money??



Oh that! Well, world oil production is peaking/plateauing right now, so usage (demand) has a limit. Now worldwide demand has been expected to grow without production limit. So we have an increasing demand with limited supply, thus priceincrease. As the price keep rising this destroys the extra demand, thus the equilibrium resumes.

It is not speculation but simply fundamentals, the market finally recognizing that oil is a limited resource and there are no real substitutes aviable. The best we can hope is a nice long plateau before the inevitable decline in production...

Now price can fluctuate according to everyday news and lots of other factors, but in the long run, there is only one direction to go, up....

Shell saying that we are good to go another 150 years is simply a lie....
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09-09-08 07:30 AM

09-08-08 02:28 PM



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Quote from Buy1Sell2:

Short 1256.25 with 20
Initial stop 1265.25
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Stop moved to 1295.25 for overnight
Stop remains the same this morning
Stop lowered to 1256.00
 
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