ES Journal Archive (2009 - 2010)

[ASusilovic]

Quote from wave:

If we break support (old resistance) then old support becomes new resistance, then we break resistance and old resistance becomes new support, over and over, and over.

When your eye becomes trained, you will know what price areas need to hold in order to continue with current direction of move.

I think this chart supports your "practicable" theory :

http://www.marketwatch.com/quotes/xlf

 

[saliva]

Quote from saliva:

Jumping back in at 37.

Out at 31.50

 

[saliva]

Short again at 833

 

[saliva]

Quote from saliva:

Short again at 833

Stopped out at 833.75

 

[swing-scalper]

Sluggish price action. No much to gain, no much to lose, no much fun.

 

[JSSPMK]

I tend to agree with LC about 800, pays to wait, if we get there I plan to really pound the bid, no commitment of course, small stops

 

[saliva]

Taking home a small short position tonight. Short @ 833.

 

[saliva]

Quote from JSSPMK:

I tend to agree with LC about 800, pays to wait, if we get there I plan to really pound the bid, no commitment of course, small stops

I agree, it won't stick for long this time around. Short the bitch at every turn on every rally!

 

[Jahajee]

I suppose the bulls can call this a consolidation day, sideways to up; higher high and higher low on the daily and hourly chart still bullish but not as much as at Friday's close. Hourly shows two HH and two LL - an uptend in the making, for now.

But, the close was not good, about 15 lower from the HOD nearer LOD.

Still, I look at this as the start of a rally that may continue until end of next week. ES 797.50 low has held, will change my opinion if it does not.

 

[JSSPMK]

Quote from saliva:

I agree, it won't stick for long this time around. Short the bitch at every turn on every rally!

Do you guys feel any sort of guilt when you short stock indexes nowadays? I know most of us are retail size, though we are adding fuel to fire or aren't we?