ES Journal Archive (2009 - 2010)

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Quote from volente_00:

Get long or cover

Shorts are gonna get punished.
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Only up to 73, bro. By that time, you better jump ship or else trannie-slayers will whip yo ass. :D
 
Quote from Buy1Sell2:

Still holding this belief.
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I actually agree with your longer term outlook, this bearmarket taking its time. I have a call of 600 for this year's low. But! It is the journey how we get there what is more important for us, and not the eventual destination.

If you cover now with a nice 100 pts gain, nobody is going to hold it against you, even if we drop another 50 pts more. You already let 60 pts unrealized gains to evaporate, I think 3 times. I know timing the market isn't easy, but eventually you have to do it anyway. Yes, we got it, you are bearish. So why not just take when you have a nice profit, and reshort at a higher price? If you are right with your longer term outlook, it should work and you should be making a bit more....
 
When you realize the start is also the end, you are on your way to pulling money out of the markets. Then when you get enough coins in your pockets and get bored, take some of them coins and play like the lions.
 
The Dow's penetration of the Nov low was minor and the S&P is still firmly above its Nov intraday low (at 741, closed at 778). However, the S&P is currently positioned to break below the weekly close low from Nov at 800 which was also the 2002 bear market weekly closing low. If unable to finish back above this level, it would mark the lowest weekly close for the S&P since April 1997 and also generate a signal on a weekly basis.

Chart attached
 

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