ES Journal Archive (2009 - 2010)

newguy05 · Jun 11, 2009

i am not sure what some of you are celebrating exactly, today's action has nothing. Tested 950, failed, but 940 also held.

All eyes on next week, the long waited triple witching week. I am expecting we get some decent action and i dont mean to the long side! If that fails, i am hitting my stop loss and exiting my puts to cash.

saliva · Jun 11, 2009

ES rangebound in the AH. But something tells me this will break to the downside. Still hopeful that we gap down for tomorrow.

BTW I have the kegs all lined up. From Bud to Sammy Adams, you name it I have it! (Chardonnay loving trannies aren't welcome.)

saliva · Jun 11, 2009

Quote from newguy05:

i am not sure what some of you are celebrating exactly, today's action has nothing. Tested 950, failed, but 940 also held.

Dude, you really must be a newb. Sorry if this offended your sensitive soul, but examine the daily chart carefully and you might see what some of us are looking at.

Hint: Rounding top attracts retail investors like yourself. Hence the reason for the anemic volume.

*edit*
Above statement seems a bit harsh and unfair in hindsight so allow me to explain myself. First, market efficiency requires difference of opinions. If everyone thinks and acts the same way, there would not be a tradable market. So if you don't like the way I or anyone else trade, then trade against me. It's that simple.

Second, on the daily chart, we've had like 5 days of dojis. We also retested the high previously reached at 957 and failed, not to mentioned that this market really does fit the rounding top pattern.

newguy05 · Jun 11, 2009

Quote from saliva:

Dude, you really must be a newb. Sorry if this offended your sensitive soul, but examine the daily chart carefully and you might see what some of us are looking at.

Hint: Rounding top attracts retail investors like yourself. Hence the reason for the anemic volume.

*edit*
Above statement seems a bit harsh and unfair in hindsight so allow me to explain myself. First, market efficiency requires difference of opinions. If everyone thinks and acts the same way, there would not be a tradable market. So if you don't like the way I or anyone else trade, then trade against me. It's that simple.

Second, on the daily chart, we've had like 5 days of dojis. We also retested the high previously reached at 957 and failed, not to mentioned that this market really does fit the rounding top pattern.

why are you always so defensively lately? i was just making an observation, never in my statement did i criticize you or anyone else's trade nor offer some hindsight bs.

yes i see the dojis and the topping tail today, i also saw the collapse from 950 in the last hr. But what i am saying is, the levels are not broken. 950 HAS ALWAYS been the new resistance that's getting tested in the last few days, the next level support 940 has not been broken, nevermind the necktie support at 920.

and we have the same view, i am expecting the market to rollover soon as i am 100% short. But putting away expectation, the technicals are just not there yet.

it's ok you can call me anything you want, but if you are such an expert why are your predictions no more accurate than mine. anyways this is pointless.

waiting for next week....

saliva · Jun 11, 2009

Quote from newguy05:

why are you always so defensively lately? i was just making an observation, never in my statement did i criticize you or anyone else's trade nor offer some hindsight bs.

yes i see the dojis and the topping tail today, i also saw the collapse from 950 in the last hr. But what i am saying is, the levels are not broken. 950 HAS ALWAYS been the new resistance that's getting tested in the last few days, the next level support 940 has not been broken, nevermind the necktie support at 920.

and we have the same view, i am expecting the market to rollover soon as i am 100% short. But putting away expectation, the technicals are just not there yet.

it's ok you can call me anything you want, but if you are such an expert why are your predictions no more accurate than mine. anyways this is pointless.

waiting for next week....

I'm sorry if I came across as defensive, but I did "edit" my previous post amending my otherwise myopic views. Anyway, my point is that we all act according to our convictions. Does that mean I impose my rigid views on others to follow? I hope not. I do see, however, too many people coming on here telling me how and how not to trade. I'm getting little fed up by it. Do you prefer that I just take my business elsewhere?

I wish people would stick to just two (and half) things:
1) posting their trades Ã la lure, ammo and many others.
2) posting objective views on where the market is and where it might be heading Ã la LC (without the personal criticism and other worthless baggage)
2.5) posting nonsense directing at nobody like, well, myself.

Anyway, like I said, my earlier post was not meat to offend you. What's the need? We're on the same boat.

piggie2000 · Jun 11, 2009

Theres always a chance we get one final thrust to crush the remaining probing shorts. thats why only liquid well capitalized shorts should be trying this. it would not suprise me with such low vol and all of us trying to short.To be honest i wanted to wait for a break of 920 and really of 875 to throw the 100 lot on but the problem is the way the mkt is struggling to fall those could be reversal pts to re run especially the 875 since its 80 pts below todays high. In other words waiting that long much of the juice could already be in the trade and you get crushed on a re rally. Ask yourself can you withstand a nice drawdown?

saliva · Jun 11, 2009

piggie, I've since modified the above post. Please read it again.

newguy05 · Jun 11, 2009

Quote from piggie2000:

Theres always a chance we get one final thrust to crush the remaining probing shorts. thats why only liquid well capitalized shorts should be trying this. it would not suprise me with such low vol and all of us trying to short.To be honest i wanted to wait for a break of 920 and really of 875 to throw the 100 lot on but the problem is the way the mkt is struggling to fall those could be reversal pts to re run especially the 875 since its 80 pts below todays high. In other words waiting that long much of the juice could already be in the trade and you get crushed on a re rally. Ask yourself can you withstand a nice drawdown?

i agree, 920 is key. The safe trade is wait for a break below 920 with a second daily candle closing below that level to confirm. But i am holding the 930s atm july puts, and am comfortable to have that open position right now. They are a natural stop loss (sort of).

anyway sav, i would never criticize anyone's trade, especially in hindsight. Sorry if some of my post came off that way. Grouphug? ok maybe after the drop to 800s

also got in a small position on faz today (1000x at 4.3ish). xlf chart is very similar but better, havent broken pass the falling 200ma, and the MAs are converging.

saliva · Jun 11, 2009

Quote from saliva:

ES rangebound in the AH. But something tells me this will break to the downside. Still hopeful that we gap down for tomorrow.

Oh wow, ES looks like them groupies doing the waves at a football game. But 1 point range? Now, c'mon, who makes up these idiotic game? Wasn't it just yesterday and the day before that these same trannies stealthily pushed up the market by more than 10 points? I wish I had an unlimited fund. I want to bash a few of these morons!

How do I sign up for that TARP thingy?!

iloveoptions · Jun 11, 2009

Quote from saliva:

Oh wow, ES looks like them groupies doing the waves at a football game. But 1 point range? Now, c'mon, who makes up these idiotic game? Wasn't it just yesterday and the day before that these same trannies stealthily pushed up the market by more than 10 points? I wish I had an unlimited fund. I want to bash a few of these morons!

How do I sign up for that TARP thingy?!

If you can prove that you're a free mason, you qualify for $0 down futures trading account with nearly unlimited drawdowns. Please contact the treasury dept. for further info. All lines are busy at the moment, thus your patience is greatly appreciated. Our beautiful assistant will ease your frustration while we sign you up! Hold on, It'll be just a moment.

http://www.youtube.com/watch?v=w9KnuJZkBjg