ES Journal Archive (2006 - 2008)

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Quote from pulsescan:

thanks. those are good points to consider.
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Has been so many times before, after heavy losses. Post-911 was the worst with two years of gloom and doom.

I though SPX 910 would hold but not. This looks like an up day tomorrow - the usual day of remorse after excesses, similiar to yesterday. Friday could be a terribly boring expiraiton day. I don't expect repeat of last Friday's miraculous recovery from near death when the the DOW recovered from 8000.
 
Quote from smilingsynic:

This journal used to have intraday trend followers like Apex and Mbusch who read the tape and went with it. Instead, this journal is filled with intraday bottom catchers and top callers who attempt to make a name for themselves.

Gap down + mid-day consolidation = later day contination. One of the most reliable intraday principles in existence.

This journal is not the same--that's why I post most of my stuff elsewhere. :-(
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If my memory serves me correctly Apex also picked tops and bottoms as well as MBusch. They unlike this thread posted their entries daily and there were a lot less predictions. I will agree thou that their posts provided motivation.:)
 
TOP STORIES

US STOCKS DOWN SHARPLY ON WEAK ECONOMIC DATA

U.S. stocks fall across the board as glum economic data and a mixed round of earnings reports put investors in a sour mood. The Dow Jones Industrial Average drops more than 600 points. American Express shares decline 11%, helping to pace a swoon in the financial sector.

BEIGE BOOK SHOWS WEAKER US ECONOMY

Fed's Beige Book shows economic activity weakened as problems in global financial markets intensified last month. The report finds that regions across the U.S. have taken on a more pessimistic view about the economic outlook.

BERNANKE SAYS USING ALL TOOLS TO STABILIZE MARKETS

Fed Chairman Bernanke keeps the door open to further interest rate cuts, saying policymakers will keeping using "all the tools at our disposal" to restore stability in financial markets. He also says a repeat of the experiences of the Great Depression is unlikely.
 

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Quote from Lawrence Chan:

If there were no government intervention, last year we would have reached 1100-1200 level and bottom out there already.

Each intervention applied lately delayed the effect and encourage riskier speculative behaviour across the board in stocks, futures, etc. That in turn requires lower price level to bottom out.

So as long as we see more intervention, there will be no way to figure out where the low will be.
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That is exactly what J Rogers was telling CNBC lass, but she was like - but hey, would you rather see our economy go down??? He had some sort of smirk on his face as if he was talking to a child LOL
 
just spent 15 minutes cleaning up this Thread

started reading on page 7672 and deleted everyone until I got to ammos post on page 7666.that was the first one that wasnt deleted and the poster put on ignore.

t-day boys will be back in action in a few hours.lets see if they can make it 4 losers in a row.
 
Quote from pulsescan:

I don't see it?
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I saw resistance being challenged on the 15 min time-frame (that which I trade) and figured it would hold at support considering the ... coffee drip nature of today's tape (which has been commented on btw).

It didn't and closed the gap (I did say it probably would not see fruition today). FTR I trade early in the day, not the late afternoon on the ES, so I'm just making market observations.

Contrary to what has been just stated Jahajee and Startraitor are pretty excellent at catching market reversals, and that JP's game as well, with everyone making their calls way in advance of the market turn(s). I'm fascinated by that technique, becaue frankly, I can't do it.

I just do boring stuff. Define a trend on a higher time-frame and trade it on a lower time frame.

Plain vanilla, but it works consistently on all instruments.

Because the tape has been so robust, even trades with bad entries have ended-up becoming profitable so long as you are aligned with the primary trend - something you mentioned earlier. I do not like doing that as a habit, though :D .

Good Trading
 
Quote from supernaut:

just spent 15 minutes cleaning up this Thread

started reading on page 7672 and deleted everyone until I got to ammos post on page 7666.that was the first one that wasnt deleted and the poster put on ignore.

t-day boys will be back in action in a few hours.lets see if they can make it 4 losers in a row.
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... you're the one who said we were back in a Bull Market (notice the case) ... as well as believing in the properties of a Full Moon to effect market behavior.

LOL :D
 
Quote from JSSPMK:

I always thought Apex was both a countertrend trader & a trend follower, same goes for Mbusch
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They were both excellent counter-trend traders, as well as being able to add size, scale-in and scale-out (at least Apex82 could) on their trades.
 
Quote from Jahajee:

Has been so many times before, after heavy losses. Post-911 was the worst with two years of gloom and doom.

I though SPX 910 would hold but not. This looks like an up day tomorrow - the usual day of remorse after excesses, similiar to yesterday. Friday could be a terribly boring expiraiton day. I don't expect repeat of last Friday's miraculous recovery from near death when the the DOW recovered from 8000.
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Not trying to be the a**hole here ...

We may have to see 800 ES on friday as there were way too many people buying calls and selling puts since several days ago.

PPT can help if and only if liquidation subsize, as in last friday.

p.s. your average down method takes balls, man! :)
 
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