ES Journal Archive (2006 - 2008)

[Lawrence Chan]

Quote from BoyBrutus:

Globex limit down is 5% but we are over 5% ???


What is the 10% intraday limit ? Is it calculated from 915?

Pre set fixed amount in the beginning of each quarter.

 

[kinggyppo]

Quote from Bigpipn:

Thanks LC.

Good luck and Good Trading to all. Don't let this be your make it or break it day. Stay solvent boys.

Proabably don't want to hear this but at the end of the day its only money. Don't do anything stupid on a personal level. You can always always get back in the market. Lots of people are going to be hurting today and tomorrow is another day. Peace!

 

[Jahajee]

Quote from Buy1Sell2:

There is no such thing as PPT. This is the last time we mention PPT here in this journal. Let's move on to trading the ES. Thanks

You cannot ignore the PPT. Don't make that mistake. I have been in the markets over 18 years - successful and a survivor after dozens of huge down days like today. Be on alert for intervention. Put stops, take partial profits, don't go overboard.

 

[Lawrence Chan]

Quote from pulsescan:

Major support at: Thursday 10 October 2002 @ 768.63 $SPX cash low.

If we break that and close below it then there is NO SUPPORT UNTIL ZERO!!!!!!!!!!!

:eek: :eek: :eek:

That level is the 50% level from the highest SPX close too.

Going to zero? I am not that pessimistic.

Governments will delete the markets from existence before that happen.

 

[Bigpipn]

Quote from kinggyppo:

Proabably don't want to hear this but at the end of the day its only money. Don't do anything stupid on a personal level. You can always always get back in the market. Lots of people are going to be hurting today and tomorrow is another day. Peace!

You mean like kill myself? HA! No way. I've found true happiness without money. Money is potential. I have a great system and will be back very very soon.

Thank you. I wasn't looking for sympathy, just don't want anyone else to go down like me.

 

[Pholeuon]

I have a question. It is not ES but NQ, I am short one contract and my profit is not big I shorted pop when ES locked. I probably can cover it now /I didnot try it/ but it looks to me that we can fall down so it does not have sense for me.
However I am afraid that there will be big jump up initiated by non existing PPT 20-30 points easily can happen.
So I decided try to cover it immediately if it jumps down on the open and stops falling. I have no experience with such situation.
Opinions?

 

[ASusilovic]

Quote from JSSPMK:

I know we are nowhere near a depression, but who knows what the future holds? Let's remind ourselves how it all started, at which point & after which event markets started to take off? It was after the Democrats announced or rather called for companies to start investing into internet based businesses, after false expectations it all finished in a total fiasco only to be saved by total slashing of the interest rates. Now we find ourselves in another sticky situation where the housing bubble burst causing near collapse of the whole banking industry, which'd have almost definitely taken us into depression of some sort. So we are almost back to where we started before the .com fiasco. I agree with opinions of some other posters that there will be a total overhaul of the entire system. One thing almost certain - they are now working on new plans, which might be introduced after they realise that slashing rates again will not work this time round. Once this liquidation subsides I see metals & and agriculture commodities going through the roof.

I see 822.00 today and maybe we will close this overnight gap...But hey, I am just a humble market participant, er...intraday liquidity provider

 

[volente_00]

Quote from Zodiac4u:

You timed this bounce well, Lets just hope it holds.

The sky is falling !!!






Anyone remember the other limit down move that happend around 1255 in the overnight a long time ago ?

The buyers then came out nicely but somehow I feel that won't be the case today.

Could this be the 10% early market close day that has been hiding ?

 

[Ronin08]

Quote from Buy1Sell2:

The 2 minute chart may produce a good sell signal today.

But right now, it's likely quite a way's off today or maybe it would be tomorrow. Either way, there is a fantastic breakout coming imminently. The bulls believe they have made a double bottom on the daily. Bears believe we are still in a downtrend. This one will be difficult to call, but as I believe that we continue in a long term downtrend, I only look short.

GOOD Call. you are the only one that makes sense and I follow.

 

[kinggyppo]

Quote from Bigpipn:

You mean like kill myself? HA! No way. I've found true happiness without money. Money is potential. I have a great system and will be back very very soon.

Thank you. I wasn't looking for sympathy, just don't want anyone else to go down like me.

You got it bro, its only a tool, good trading.

check out "what money really means" by Thomas Kostigen when you get a chance.