ES Journal Archive (2009 - 2010)

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Quote from iloveoptions:

March for me till I dump my final futures position.
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A silly but possibly practical suggestion during this overlap... maybe use M740 for March and J737 for June, etc?
 
Quote from Sha10105:

not to ansewre for sal but i am an ET junky and i believe he is short like like 40 contracts at 742..

i need a life..
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Yeah, just rub it in, wontcha? :D

True, I was short 40 lots at 742. Unfortunately, I got stopped out at 753.75. Ouch or not, this was a stupid trade that I should have dumped much sooner. I'm mainly lying low for now. The last thing I need is to become prey to revenge trading. Only scalping for quick profits from both long and short.

As to where I stand in the long run, I'm still bearish to the core. I've been here and done this many times in my short trading career if that means anything (approaching 20). To me, this looks and feels like any ordinary in-your-face deadcat bounce in a oversold market. But then again, I'm just another noob.
 
Quote from saliva:

If the bulls truly wanted to maintain any semblance of coherence behind the current rally, they should have never created the gap this morning. I think that was a giveaway for the bears to step in.

On that note, the market must close below 740 for the bears to gain traction to the downside.
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As long as the market stands above 740 for SPX the bulls are still in control in short term. Today is a test for bulls and I think the bulls can defend 740 successfully. This consolidation action is in bull's favour.
 
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