ES Journal Archive (2009 - 2010)

David M · May 4, 2009

and to add to all of this we have gold prices rising sharply.

Keeping my short for now.

pulsescan · May 4, 2009

Quote from David M:

and to add to all of this we have gold prices rising sharply.

Keeping my short for now.

If Gold can close up today we should resume its upward trend back towards the test of 1006 - 1032.

iloveoptions · May 4, 2009

Quote from Brendan R:

- low volumes today
- we had distribution days end of last week
- market purely up today on the back of housing starts
- first day of the month with buying occurring in the morning

couple this with the fact that we are in major resistance zone....

I believe several posters were emphasizing 870 as major resistance the last few weeks.

[Proximo] · May 4, 2009

Well they're not emerging :]

Until they do.......

Quote from Brendan R:

yes, in control on low volumes. If sellers emerge...

Brendan R · May 4, 2009

Quote from iloveoptions:

I believe several posters were emphasizing 870 as major resistance the last few weeks.

you're right, I was one of them

riskymove · May 4, 2009

Quote from Brendan R:

you're right, I was one of them

You've also been thinking short since at least 860 though right?

trackstar · May 4, 2009

Quote from iloveoptions:

I believe several posters were emphasizing 870 as major resistance the last few weeks.

You did get a 50 point reversal from it.

I think 895 will provide something similar. It was a swing high from 11/28/2008

Brendan R · May 4, 2009

Quote from riskymove:

You've also been thinking short since at least 860 though right?

indeed, I've traded with a short bias on daily timeframes since 860 and short from 870 for longer timeframes, stop at 930

the last 10 days of April have been quite challenging

riskymove · May 4, 2009

Quote from Brendan R:

the last 10 days of April have been quite challenging

Amen to that!

iloveoptions · May 4, 2009

Quote from trackstar:

You did get a 50 point reversal from it.

I think 895 will provide something similar. It was a swing high from 11/28/2008

Well, I only have 10% more to go on my hedge, as I'm itching to dump it, but I must follow my system. We may extend this move another 35 -45 points higher from here before a meaningful drop. Let's see.