ES Journal Archive (2009 - 2010)

[HooLee]

Quote from Lawrence Chan:

50% pull back to 900 must hold (for the time being) to trap more longs

Next move, however is much less predictable.

True.

Little bit too fast for one day drop, guess we may go sideway into Friday then. 880 is the level to watch if sell off again tomorrow.

 

[Lawrence Chan]

Quote from saliva:

How does 870 as tomorrow's LOD sound to you?

NQ has a very nasty daily island formation. I guess all out effort will be there to pop NQ up so that the gap can be taken care of.

If that fail, I see 860 close tomorrow.

 

[saliva]

Quote from HooLee:

True.

Little bit too fast for one day drop...

Considering that this market COMPLETELY IGNORED all bad news and rallied this far, today's drop is merely a drop in the bucket.

 

[Jahajee]

Quote from saliva:

How does 870 as tomorrow's LOD sound to you?

Much lower, he says, confidently.

Today'c close could be 890 or lower

 

[Lawrence Chan]

Remember what Pek mentioned in the morning?

Cash is likely to hold the SMA at 905.

Let's see if that is the case.

 

[saliva]

Quote from Jahajee:

Much lower, he says, confidently.

Today'c close could be 890 or lower

I sure hope so because I'll be pissed if the LOD is where I got stopped out (898.75). We're getting close.

Crap, now it's bolting higher!

 

[HooLee]

Quote from saliva:

Considering that this market COMPLETELY IGNORED all bad news and rallied this far, today's drop is merely a drop in the bucket.

Plus down move is usually faster than upmove. Maybe I just get used to the holiday mode!

Ps: but don't under estimate those bulls!

 

[regal_2012]

http://www.elitetrader.com/vb/showthread.php?s=&postid=2248781#post2248781

thats 4 for 4.and they werent daytrades either..........

covering everything here

nice 1 day gain

 

[Pekelo]

Quote from Lawrence Chan:

Remember what Pek mentioned in the morning?

Cash is likely to hold the SMA at 905.

Let's see if that is the case.

Of course it is! (would I lie to you guys?)

SPX closed at 906.65. Bounced back slightly from the SMA. I think we stay green tomorrow....

P.S.: Sorry for not answering your question yesterday but I didn't have an answer so I kept quiet.

 

[riskaddict]

For any fans of 50% fibo retracements I'm sure you'll be buying between here and 890. Below 880 is death. Same holds true for oil. Is the correlation between the CL and ES always this strong... and will it continue? This is a rhetorical question I'm just just bored trying to make conversation.

Ever have one of those days where ya make some nice coin but are still pissed because you cover short oil position @ 46.20, and the internet is down at work and you blackberry can't hold its connection.