ES Journal Archive (2006 - 2008)

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Quote from ggoyal:

this is insane. i think i am going to sit this session out till things get a little more calm. this volatility is just a killer. Haven't lost anything yet, i don't want to be a hero. Ill wait for the "easier" money.
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i'm with you, dude.

just a-sittin' and a-watchin'....:D
 
Quote from Jahajee:

Violent wild swings mark a bottom

I expect a bottom by Friday or intraday reversal on Monday but the bear is having a great time, for now. It's been a good run fotr the bears but all good things come to an end. Enjoy while it lasts, the last bear hurrah for a few weeks. But, markets not out of the woods. Will be a long slow process, over several months, and siginificant changes in regulations and the general Wall St environment.
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I agree.

btw.... textbook wedge
 
We have a giant falling wedge. I think that is supposed to break out upward...

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge

Edit : breaking out nicely, before the breakout:

rvkkxv.png


Follow up: fizzled....
 
Quote from wave:

Paulson is talking at 3:00 and the tape is acting funny. Someone is buying.
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This has been some of the most volatile markets I have ever seen. The combination of the break of many technical levels, constant and ever-changing government actions and announcements as well as a general state of panic has made this a very difficult time to trade.

I find it necessary to cut down size and increase stops and sometimes jump onboard without trying to get a pullback limit fill. I've noticed a lot of pullbacks end up running my stop and a lot of runaway trains just keep going...

Best of luck to you all and good trading,

Stone
 
Quote from princessa:

i'm with you, dude.

just a-sittin' and a-watchin'....:D
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well not anymore. it was just those 30 something minutes in the monring. its played out pretty easy after that. hope u got some of it too.
 
Quote from Pekelo:

Follow up: fizzled....
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Damn, it had to come back one more time into the wedge before taking off...

Edit: Actually, if one draws the line using only the bodies' of the candles, it didn't come back. I usually don't use this pattern...
 
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