ES Journal Archive (2009 - 2010)

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Quote from volente_00:

Depends on how many puts were opened yesterday of that volume.


Could go 82 to 90 sometime by Friday. Understand spy does to have to close at 90, as long as they can get a move back up to collect on the put premium. Also understand that those who sold 83 spy puts at 1 yesterday, don't lose money until spy is under 82.


So to simplify, don't be short from 820 to 830 on es in the next few days as the probabilities say it may move from this level to 860 min.
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Another consideration is the 2 days that SPX stayed below 800 last year.

If there were enough buyers there on Jan 875 call or higher strike, those options will be so expensive that keeping op ex price around 850 may be in order.
 
Quote from Pekelo:

I didn't post it because you guys should notice by now, but keeping going long during the night was a simple play because of the 2nd gap rule guarantee...
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What's up with the 10 point run that reversed at 3 am ?
 
We're still in the downward trending channel in NQ, but we're right in/slightly above some heavy support. If they're going to reverse this thing and drive us higher out of this downtrend today is the day... especially after seeing the bulls stage a big reversal from the overnight sell-off. The RTH charts will be virtually unchanged by the open and thats bullish.

Perfect channel, perfect 5-wave symmetry, heavy support... lets see what happens.
 

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