ES Journal Archive (2009 - 2010)

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I am going to go out on a limb here - indexes will extend gains next week, as weekly TICK is bullish & markets will start pricing in current Q. NDX has broken out it's pretty clear by now. Speculation about QE2 will help markets to advance. Sure enough there might be a pullback which IMO will be a good buying opportunity ;)
 
look at the volatility after all major crashes, and price patterns unless the market breaks to new lows, the market is purely consolidating for a move up based on inflationary tendencies ...print ..print.. inflate all asset classes. But throw in a deflationary spiral so you can fund your debts easier on a global scale, imagine what the market would be for US debt if a world wide deflationary spiral wasnt in place.
 
More highs this week, only fools are shorting this beast.

One thing Ive learned over the years is that you are better taking the retraces of strong trends than fading them.

Does not matter how many virtual resistances you plot this monster is on a mission to destroy the bears.
 
This is the commentary I love to read right after I put on a short position. Good luck if you're long.

Final target of 950 on the S&P with my stop at 1175 (although I doubt we're breaking 1150 again). It's a position trade, so I'm not too concerned with the way in which we get there, but waterfall sell-off action similar to May is very likely.

While 95% of the traders on here spew off a new call every day, I speak up only when I have conviction. My record on calling significant turning points is damn spot on... search my posts. Then bail on your longs tomorrow morning. :D
 
Quote from tommymoose:

This is the commentary I love to read right after I put on a short position. Good luck if you're long.

Final target of 950 on the S&P with my stop at 1175 (although I doubt we're breaking 1150 again). It's a position trade, so I'm not too concerned with the way in which we get there, but waterfall sell-off action similar to May is very likely.

While 95% of the traders on here spew off a new call every day, I speak up only when I have conviction. My record on calling significant turning points is damn spot on... search my posts. Then bail on your longs tomorrow morning. :D
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What would lend credence to the downward momentum all of the sudden? To me this looks like classic consolidation before the next move higher.

Maybe something like one day this week before RTH futures are down 10-15 points then get bought up at 9:30 right at the open. I just don't see where your confidence lies going short this market?

I have a feeling 1175 will not be a problem within 2-3 weeks if not sooner. GL though brother.
 
Quote from tommymoose:

This is the commentary I love to read right after I put on a short position. Good luck if you're long.

Final target of 950 on the S&P with my stop at 1175 (although I doubt we're breaking 1150 again). It's a position trade, so I'm not too concerned with the way in which we get there, but waterfall sell-off action similar to May is very likely.

While 95% of the traders on here spew off a new call every day, I speak up only when I have conviction. My record on calling significant turning points is damn spot on... search my posts. Then bail on your longs tomorrow morning. :D
More...

There is no chance in hell to get SPX to 950 unless NDX gets below its 200 weekly SMA, no chance Tommy ;) Long time buddy.

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