ES Journal Archive (2009 - 2010)

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Quote from Lawrence Chan:

You get it wrong this time.

It is the bulls selling - big time, since the mkt run above 966.

It was the bear running up the mkt since then.

Edit: May I add, "weak bears".
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I don't have any specialized information on the markets that you or anyone else might have LC.

All I do is look at the major trend (as I define it) and draw a line ...

... and according to what I see, we are still in an UPTREND (see chart). :)

Good trading
 

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Quote from MandelbrotSet:

I don't have any specialized information on the markets that you or anyone else might have LC.

All I do is look at the major trend (as I define it) and draw a line ...

... and according to what I see, we are still in an UPTREND (see chart). :)

Good trading
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Understood.

We have different styles thus the difference in opinion, that's all.
 
Quote from Lawrence Chan:

Understood.

We have different styles thus the difference in opinion, that's all.
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I was just about to say the same thing. I guess I would say Mandel's just a bit more conservative. Just like B1S2.

I've been bearish over the last few days, but the proximity of the elusive 1000 on the ES is what's keeping me from going short. I will make my decision after tomorrow's close. I don't expect the bulls to just give up when they're so close to a critical psychological level. Today may just be the beginning of a shallow pull back.
 
Quote from mindtrade:

You know there is tons of stops just under 966 which scares me a bit...
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I doubt they'll try and run those anytime before 2pm....if they do try running them.
 
Quote from Eko_Trader:

I was just about to say the same thing. I guess I would say Mandel's just a bit more conservative. Just like B1S2.
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In my book what LC is talking about is profit taking, nothing more and nothing less ...

... now, that's smart, considering the fact that we've had a 100 pt run-up in the past 12 days. But it doesn't mean that the uptrend is broken.

Good trading
 
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