ES Journal Archive (2006 - 2008)

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Forgot to post what that means :)

Possible scenario,

1. Pek's 1000 level by year end ... island on daily is extremely powerful

2. We fill gap today thus we have a healthy pull back and bullish case continue

3. gap hold today and crush all shorts going up to 922-928, with a bit of coincidence, in a day or two of tight range, gap down big time to start a new down leg

Thus I prefer not going short until after I see some serious down side action first.
 
Quote from Lawrence Chan:

Forgot to post what that means :)

Possible scenario,

1. Pek's 1000 level by year end ... island on daily is extremely powerful

2. We fill gap today thus we have a healthy pull back and bullish case continue

3. gap hold today and crush all shorts going up to 922-928, with a bit of coincidence, in a day or two of tight range, gap down big time to start a new down leg

Thus I prefer not going short until after I see some serious down side action first.
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I'm gonna go with 1 (minus Pek's 1000 mark). Since we have a gap up today, we would have a nice "island reversal" tomorrow were we to gap down again. Now that would really rile the PPT, don't you think? :D
 
Quote from saliva:

I'm gonna go with 1 (minus Pek's 1000 mark). Since we have a gap up today, we would have a nice "island reversal" tomorrow were we to gap down again. Now that would really rile the PPT, don't you think? :D
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Then we are talking about #3 that we have the gap hold today.

#1 is reserved for the bulls :) as v3 mentioned a 5 day island down there should the gap hold today.
 
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