ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Lawrence Chan:
Just pop by seeing that we have a perfect trend sell day ... made clear when we never retrace more than 1/3 of the range during lunch and that we got a new low at around 2:00 ET.
And no one shorting it all the way?
Edit: Trend sell day is good til 3:30 ...
3:30 indeed
Hello everybody,
I noticed a strange behavior with S&P 500 index ( Emini ES) , for the whole trading session ES is trading always 1% below DOW.
For last one month i did not see this big 1% diff between DOW and S&P 500 index. most of the time they followed each other as far as % gain/loss.
Today is the first day I noticed this strange thing. I feel this is temp. thing due to this thin volume .
Do you guys feel the same ? appreciate your input .
I noticed a strange behavior with S&P 500 index ( Emini ES) , for the whole trading session ES is trading always 1% below DOW.
For last one month i did not see this big 1% diff between DOW and S&P 500 index. most of the time they followed each other as far as % gain/loss.
Today is the first day I noticed this strange thing. I feel this is temp. thing due to this thin volume .
Do you guys feel the same ? appreciate your input .
It is perfectly normal.
ES almost always trade at a % level in between the changes in NQ and YM.
Today NDX drops pretty hard, thus the more visible difference.
Today was an SDD by Pekelo's book of trends no?
Drop, 10am top, drop, 1-2pm top, drop....
Damn, I was short @ 887.75, but my stop was too narrow (877.50 after it started dropping)
And I didn't have the guts to go short after that, fearing a squeeze.
I'm a coward
Loaded long into the close, hope Pekelo's second rule of SDD comes in. Too scared for futures, so I hit SSO and QLD...
Drop, 10am top, drop, 1-2pm top, drop....
Damn, I was short @ 887.75, but my stop was too narrow (877.50 after it started dropping)
And I didn't have the guts to go short after that, fearing a squeeze.
I'm a coward
Loaded long into the close, hope Pekelo's second rule of SDD comes in. Too scared for futures, so I hit SSO and QLD...
Quote from Decel:
Today was an SDD by Pekelo's book of trends no?
Drop, 10am top, drop, 1-2pm top, drop....
Damn, I was short @ 887.75, but my stop was too narrow (877.50 after it started dropping)
And I didn't have the guts to go short after that, fearing a squeeze.
I'm a coward
Loaded long into the close, hope Pekelo's second rule of SDD comes in. Too scared for futures, so I hit SSO and QLD...
After having a nice dinner with my family, and having some good wine at the moment, feel like repeating this important concept that has been repeatedly told by Pek, SS, etc.
1. The opening range became the high of the day after an hour
2. We clearly have opening range breakout down side
3. gap direction is out of the way (filled, etc.)
4. lunch time never retrace more than 1/3 (my added rule
)You have potentially a good trend down day if you have 3 out of the 4 requirements above.
The catch is that if there is no new low printed after 2:00 pm ET, a reversal can happen. If a new low is printed after 2 pm, then selling into the pullback will likely get you a new low print after 3:00 pm.
All that ends by 3:30 pm, as a strong melt down or a strong come back is equally likely.
Trend up day is almost an exact opposite.
With proper money management, trading potential trend days alone is good enough money for many.
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