ES Journal Archive (2009 - 2010)

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FWIW, something I regularly use for directional bias tells me there is a 75% chance we'll touch at least ~835 before we break down (IF we break down). I'm a bull until the afternoons low (812.75) is broken. Plus, NQ has a really nice IHS that I'm not going to try to fade... at least for anything with a sizable target.
 
Quote from tommymoose:

FWIW, something I regularly use for directional bias tells me there is a 75% chance we'll touch at least ~835 before we break down (IF we break down). I'm a bull until the afternoons low (812.75) is broken. Plus, NQ has a really nice IHS that I'm not going to try to fade... at least for anything with a sizable target.
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Waiting for the Lo to break is a very good strategy ImPO, just look at this monthly chart.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2287491>
 

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I will keep the 30 contracts short here with the same stop at 1075. I don't believe the market will bottom until summer 2010 at the earliest. Perhaps, it will actually be summer 2011. In any event, I remain short here, demonstrating a wide stop in an oversold market. :)
 
I think we roll higher from here

I have a bunch of reasons and indicators but I will just cut it to the bone and say we go higher

still long position as of yesterday, looking for higher prices
 
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