ES Journal Archive (2009 - 2010)

[Eko_Trader]

If you wanted a correction, today would have been perfect. GS earnings were amazing...then you let the market run, and then sell off. That would signal the beginning of a nice correction. I know for sure that shorts piled in on Friday, and I really hate stop-running rallies. They are very messy and hard to trade.

 

[wave]

Next leg down about to hit. They may poke 1206 to get it going.

 

[Lawrence Chan]

Quote from wave:

Next leg down about to hit. They may poke 1206 to get it going.

Yes something big is coming ... volume dried up completely.

Edit: But which way?

 

[W4rl0ck]

A nice trap would be to start the selling after AAPL earnings.

 

[Lawrence Chan]

Quote from W4rl0ck:

A nice trap would be to start the selling after AAPL earnings.

Melt down from here, close at around unchange. So you have lots of people buying into the close.

And after AAPL earning, gap down tomorrow.

A bigger trap. =)

 

[jjj1000]

I think we will test the ES day top (1205) again today. Playing long with a short stop.

 

[ASusilovic]

Quote from Lawrence Chan:

Yes something big is coming ... volume dried up completely.

Edit: But which way?

Mentioning volume: 15.000 contracts changing hands in 15 minutes. Is this orchestrated bullsh.tting ?

 

[BA_Trader]

Pretty sure the selling right now is a trap. DEMTDAYBOYZ are drumming up business... may see it down near 98.. don't know if they will risk a cascade though.

I don't think they'll be satisfied until every stop from Friday is run.

 

[Lawrence Chan]

Key price level is 1200-1201

It is where 50% of day, VWAP, and pretty much everything else sitting at.

 

[tortoise]

Quote from Lawrence Chan:

Melt down from here, close at around unchange. So you have lots of people buying into the close.

And after AAPL earning, gap down tomorrow.

A bigger trap. =)

trap for longs ... or shorts?