ES Journal Archive (2009 - 2010)

Lawrence Chan · Jan 7, 2009

Quote from ASusilovic:

Momentum play. 1 st big support 913.50. Next 872.50. Today we will see whether fund guys are playing "improving" economy or not...

Yes, the opening 1/2 hr will tell if they still buy across the board like last 3 days.

Brendan R · Jan 7, 2009

let's see how quickly the buyers use their ammo...

jmoo · Jan 7, 2009

buy 915 tight stop scalp

jmoo · Jan 7, 2009

out 915.50 out

buy 915 tight stop scalp

tommymoose · Jan 7, 2009

Long NQ 1250 stop 1247.75... go gap fill go

:ES up 2.5 points while the NQ is treading water... wrong instrument, damn:

Lawrence Chan · Jan 7, 2009

Yep, still buying. But the buying is now meet with much bigger offers.

dumb_mother · Jan 7, 2009

long 912.5

startraitor · Jan 7, 2009

.25 points away and nearly exactly 24 hours.

Have some support lined up at 907-08, will need to see some some good action to consider getting long today. After that I see 886-96. Nq appraching support at 1235 as well.

Quote from startraitor:

rodger dodger, green light!

Seriously, I usually like to let the release simmer 5-15 minutes, but the "pop" was conducted to coincide with relase. Worth a small entry at a strong level.

Will aggressively short the smaller timeframes and retracments. Target of 910 today based on price action. Best entries should be 31.25-33.50 should we make it, will try to get heavier there.

kinggyppo · Jan 7, 2009

Quote from Lawrence Chan:

Pek,

Your 5-min comparison implies we are within a day or 2 to a better turning point.

The hard part is, do we get a blow off top 1st (damn) before going lower.

What's your take?

p.s. I am not a hero in terms of trading thus I will only sell much higher above 20 (like today's opening range top at 40) or a clean break below 20 with a failed test.

Edit: definitely heart broken when I saw 27 holding for the 6th time today, completely speechless

13.40% of all volume traded yesterday on spy was at like 90.30 pull up a volume by price chart and you will see what I am talking about. The bulls were heavily defending 93 so when it broke there was a nice sell off. Good trading.

ASusilovic · Jan 7, 2009

Quote from kinggyppo:

13.40% of all volume traded yesterday on spy was at like 90.30 pull up a volume by price chart and you will see what I am talking about. The bulls were heavily defending 93 so when it broke there was a nice sell off. Good trading.

SPY Strike 90.00 3.15 -1.40 2,540.00 3.15 3.20 Open Interest 166,874.00

Too much call byuers...