ES Journal Archive (2009 - 2010)

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I am also looking to re-buy the June put that I closed at a profit if I can buy it at a better price point next week. No reason for me to endure the 3 day time decay. Although I got raped by using a market order to get out of my oil driller puts, the oil drillers kept going down all day, so it looks like it was a smart move while the oil companies that I got into are doing fine.

I really had to use market orders since if I had used limit, I would not have been filled, and the stocks kept going down all day. Once you have an insight, sometimes its better to act on it as quick as possible.

My sim short that I did on the ES made a profit, but it did not make me happy being right when I could not make any real money.

Quote from wave:

schiz, if we do( before touching 1080), you can bet your buns I'll be short from 1109 to 1080
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Quote from petty1978:

Schizo, do you think we are going to sell off around 3:30? I ask because you mentioned it...

What are your thoughts on the ES being at 1126 by Tuesday afternoon? Do you see any technical indications that one could derive this conclusion?

EDIT: our posts must have crossed paths, NM
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Of course, anything can happen but I don't envisage a major selloff going into the close. As far as 1126 by next Tuesday, it's hard to say with the holiday in the middle. As you might know, barring any sudden calamities, holidays are usually bullish (and Memorial day especially so).
 
Quote from wave:

schiz, if we do( before touching 1080), you can bet your buns I'll be short from 1109 to 1080
More...

Who am I to stand in your way? :D

Be that as it may, I'm of the opinion that 1130 might come before 1080, provided that we do hit 1109. Anyway, it's hard to argue against you since you're usually spot on. Okay, there ya go, you finally received my compliment. :)
 
To everyone who is having a hard time understanding how I analyze larger swings in the ES:

I derive bands of prices from the data and I have shared a few ways I do this but not in full by any means. I have spoke about 1126 on the high end and 1032.50 on the low end. These are just imaginary lines that price will bob and weave around.

If Tuesday, 6-1-10, we peak and take out 1126-1136 the ensuing sell-off has the potential to be a doozy and 1032.50 being the first MAJOR stop. So from my point of view Tuesday bringing much higher prices will be a bad thing short term for bulls and the bears best friend...

If we see prices stall out after the holiday and turn south inside of 1110-1126 and drop and drop to 1055 and then 1051 and then 1032.50 and maybe 1014, you can bet your lucky dollar that a monster 150+ point rally will ensue... doesn't fix our economy but offers a nice chance to increase your trading capital if you are a swing trader.

[so I utilize this rational to know If I am going to be looking for reasons to swing higher at lower prices or repositioning myself for a much lower swing]

I know that no body knows me in here and I am the "new" guy. But check back to this post in a week and see where the ES is at and what is going on.

Obviously, like everyone, this is friendly analysis and I don't contend I move the markets. Just fun to execute trades and make and loose money.

For the record, I have sell orders scaling in at 1110-1126, scaling out from 1051 to 1032. So if I am wrong I loose money.

Have a great Holiday.
 
~Wave~

I feel like you are auditioning for the lead role in CBS's hit series "The Mentalist" Ha

Are you capitalizing on your trading prowess? Or just jammin away to music?
 
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