ES Journal Archive (2009 - 2010)

BoyBrutus · Apr 22, 2009

Quote from MandelbrotSet:

Stop moved to 859

I don't want to be stopped out of what I perceive to be a good trade at market exhaustion.

Even though it's a more speculative trade, and is against the current trend, here are the items that I'm looking at.

1. ES is sitting at resistance.
2. Price action was screaming short squeeze.
3. Bonds are sitting on support.

Right or wrong?

We'll see.

Good reasons, however when you commment on others who do 'counter trend' trades could they not be having their own reasons?

Brendan R · Apr 22, 2009

market is toppish but no need to rush to short, let it mature, the rotten apple will fall by itself, and on itself

market is going to stall, running out of short squeeze fuel, and then, then it will be fun

[Proximo] · Apr 22, 2009

(+1)

Quote from Brendan R:

market is toppish but no need to rush to short, let it mature, the rotten apple will fall by itself, and on itself

market is going to stall, running out of short squeeze fuel, and then, then it will be fun

MandelbrotSet · Apr 22, 2009

Quote from BoyBrutus:

Good reasons, however when you commment on others who do 'counter trend' trades could they not be having there own reasons?

Yes, I thought about that also.

Which is why I am going through the trouble to explicitely state why I am calling this trade.

Lawrence Chan · Apr 22, 2009

One thing to notice is that yen is gunning towards a test of the 95 area.

And that is 300 pips below.

That can drag ES down no matter how hard they squeeze the shorts, which in my opinion, will result is a stronger drop than necessary. =)

BoyBrutus · Apr 22, 2009

Quote from trackstar:

My 30, 120, and volume ratio reference

Thanks Track

ammo · Apr 22, 2009

Quote from ammo:

sh 56.5

, out 53.5

Now is Now · Apr 22, 2009

Quote from Now is Now:

ADJ STP 853.50...may the sun never shine on it

FLAT BE ..the sun did shine...G/L shorties

BoyBrutus · Apr 22, 2009

Quote from MandelbrotSet:

Yes, I thought about that also.

Which is why I am going through the trouble to explicitely state why I am calling this trade.

OK good, I see a pullback to the 52 area then continuation to 61 ????

lurefo · Apr 22, 2009

Quote from MandelbrotSet:

Yep, it's speculative to short strong uptrends and buy strong downtrends.

You're never going to really get consistent signals all pointing in the same direction when you do so, by the time that happens, there will already be substantial profit in the trade.

Good trading

I share that view. You often get opposite signals, on different fractals to begin with.

But that's not the reason I exited the trade.I had a couple signals showing there was a significant chance that we go sideways or even worse, revisit the high with a potential adverse reaction I would not want to sit through.

When in doubt, I prefer to be flat. In trading also you'd better be safe than sorry. If the price goes the way I anticipated as it's doing right now, that's fine. I learned a long time ago to cope with that. There is always the next trade.

Good trading.