ES Journal Archive (2009 - 2010)

Builder17 · Jul 20, 2009

Quote from Builder17:

short SPY 94.11 from yesterday on a swing trade. stop 94.5, targeting gap below maybe mid next week

stopped for loss on open 94.71. dont know how there could be more upside.

Builder17 · Jul 20, 2009

small long SDS 51.44 , 2 pt stop. no target yet.

Eko_Trader · Jul 20, 2009

The Bulls are slipping. I think good money might be on the short side. S&P can't get over 944 and hold...doesn't look good. Lastly, there's a metric ton of gaps below that needs to be filled. I'll love to be bullish now, but the price action doesn't seem to support that sentiment.

saxon22 · Jul 20, 2009

I see it going back to 925. Give them some time to get pikers on the long side t

MandelbrotSet · Jul 20, 2009

Quote from Eko_Trader:

The Bulls are slipping. I think good money might be on the short side. S&P can't get over 944 and hold...doesn't look good. Lastly, there's a metric ton of gaps below that needs to be filled. I'll love to be bullish now, but the price action doesn't seem to support that sentiment.

While momentum has moved to the downside, the overall uptrend remains intact (as of 10:40am ET). I actually wouldn't be surprised to see a retest of R2 (945) before any real sell off.

P.S. LI came in bullish, just not wildly bullish. That may account for the retracement in price.

saxon22 · Jul 20, 2009

Long term it looks bullish but not today.

Eko_Trader · Jul 20, 2009

Quote from MandelbrotSet:

While momentum has moved to the downside, the overall uptrend remains intact (as of 10:40am ET). I actually wouldn't be surprised to see a retest of R2 (945) before any real sell off.

P.S. LI came in bullish, just not wildly bullish. That may account for the retracement in price.

I'm patiently waiting for that retrace...that'll be telling about what the bulls have left.

MandelbrotSet · Jul 20, 2009

Long @ 940
Stop @ 936

newbie463 · Jul 20, 2009

Quote from MandelbrotSet:

Long @ 940
Stop @ 936

MandelbrotSet,

what did you have in mind for a target?

945?
ytd breakout?

thanks,
newbie

MandelbrotSet · Jul 20, 2009

Quote from newbie463:

MandelbrotSet,

what did you have in mind for a target?

945?
ytd breakout?

thanks,
newbie

I honestly can't read targets, so I don't hold to them.

But I can read the momentum of price action, so I'll ride this train so long as it's going up on the time frames that I'm observing. I usually will look for anywhere from 2pt to 4pt scalps when trading, so at most I'm looking for 4pts from this trade, but I believe the Bulls are going to challenge the previous highs at 946.00.

Good trading.