ES Journal Archive (2006 - 2008)

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Quote from startraitor:

exit 48, it was not 55 but still pays to be optimistic...
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Of course. Good one.


But, if I am bearish 55 is rather pessimistic. Not good.


There seems to be a bullish tone to the markets after the recovery from below 820. However, I can't see this thing going higher than 900
 
Thanks ammo, j, and likewise. Days like this you need to walk away and clean a toilet or two be humbled before coming back to the screen. Better to do it there than let the market do it for you.

Given fast approaching employement #s and auto bailout talks, it's best for me not to stick my neck out past 4:15 for the rest of the week. Looks like price is wound up pretty good in the low 40's and may have a hard time breaking that hold till Friday. Fading extremes may be the play the next couple of days but will play the cards as they are dealt.
 
12-02-08 08:52 AM

We should at least test yesterday's low sometime this week and then the lows from last week will be tested at some point in the near future. Staying short here.
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I see nothing in the rally today that would dissuade me from this viewpoint. Staying short--Ishmael:)
 
Quote from startraitor:

Days like this you need to walk away and clean a toilet or two be humbled before coming back to the screen. Better to do it there than let the market do it for you.... Fading extremes may be the play the next couple of days but will play the cards as they are dealt.
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Well stated. It's always better to take what's given to you rather than fight for that last morsel. This market has amply demonstrated that nobody has a free pass to success.
 
Thanks for the earlier comment (I think). That was my point as well and why it was time to find humility.


Price is wound up in low 40's, very dangerous to short into, imo.


Quote from saliva:

Mine worked surprisingly well today, so I'll pass up the offer for now. :D
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