ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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TO DA BANK PORGE
TO DA BANK
most respectfully may i ask why the fascination with an all day long end of day handle pattern as the price did what it always does on a normal day? 2 runs? all we have to do is ride the runs..exiting at preset point targets......most appreciative of your time...thanks millions....watch volente he is getting better each year...
last post......volente is one who has more desire for this stuff than anyone I have encountered besides me and my brother...he matches both of us..... and I do sincerely believe he does well....I know he has earned it.....serious stuff vol.....i know there are others also I just don't know them...vol and I go back a long ways...Hope all here make money in this business....simplicity is the key for me....very simple.....
Gold marching to $1000 the same time the S&P is heading down to challenge November lows.
A measured move on GLD would put it at 99.97: 66 to 87.10, and then 78.87 to 99.97
A measured move on the ES would put it at 730.75: 942.75 to 797.50, and then 876 to 730.75.
A measured move on GLD would put it at 99.97: 66 to 87.10, and then 78.87 to 99.97
A measured move on the ES would put it at 730.75: 942.75 to 797.50, and then 876 to 730.75.
Another way to look at this beyond a daytrading perspective.
The first drop from 1500 to 1200 is 200 pts and 20%. That took 2 months.
Rested 1 month.
Then 1300 to 900 is 400 pts and 30%. That took 2 months.
Rested 1 month.
And then 1000 to 750 is 250 pts and 25%. That took 1 month.
Rested 2 months.
Now 950 to at least 750 now is 200 pts and 20%. That took 1.5 months. And we are not sure if the bottom is in yet.
My guess is that we are not in a fast panic sell off phase, but long grinding bear mode. The panic sell-off is over since the 1st spike low at 750.
It can be 2 to 5 months as a minimum because people are waiting for results - better quarterly earnings, better econ #s, etc.
This long grinding process can result in 2 scenarios.
1. If we get a adam and eve type bottom across 12 months span, then it will lead to an important low where the mkt will take off to new highs at lightspeed. i.e. new bubble in the making.
2. If we grind to a new low, then stock mkt may no longer be considered as an asset class and it will be dead for a long time, similar to a dead penny stock. i.e. great depression.
Based on NDX, case #1 is very probable. Based on Dow, #2. S&P is somewhere in between.
The implication of Dow is very important as it has the most # of financial components - it clearly means financial sector will be gone for good unless they can reinvent themselves into something else.
Anyone remember right before the huge volatility started, there were TV ads selling channel/band type trading signals, claiming people can buy low and sell high on stocks again and again to financial freedom?
Guess what? As volatility dies down, it may work again.
Guess what? As volatility dies down, it may work again.
obama is brilliant ......but is he trustworthy? even poor old burris is another chicago crooked politician.......1000 page stimulus with no transparency.....and no time to respond as obama said "right now" or we sink...everyday is critical...so he flies home for a few days before flying to denver? and signing it in denver? for a taxpayer hickey of 1 million dollars for a big show instead of signing in washington...this guy is a gigantic big ego scary person. Obama said "there are other ways to address reparation". Now the "other way" is signed, sealed, and delivered. My hero, Dick Morris, said we will be France in 4 years. Nancy and Harry took over 2 years ago. Were you better off 2 years ago?
can probably forget about any meaningful rally until this guy says we're going up, and from this post that istn't yet:
Quote from AMT4SWA:
Oh....forgot to post I had my fill at 767.00. Held remaining ES positions for the weekend with my next targets at 762.00 and then last at 757.00......also still holding remaining Rydex with targets on down as previously stated.
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