ES Journal Archive (2009 - 2010)

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Believe it or not, the uptrend is still intact as the market continues to work off some of its excess... calling the top of this one is rather pointless untill it is shown through price action.
 
Took a long 998.50 to 999.50. Problem all day for me has been having 2 point stops and 1 point targets. I notice that when I am right for my signal, it will go the 2 points. Also, when I am wrong, I sometimes try to add 1 more contract at the 2 point stop instead of taking the stop and then take the stop after 3 points causing me to have a losing day today, which would have been fine if I took only 2 point stop and target trades. I think I need to try on Wed to just set targets and stops and then not watch since I want to get out of a trade as soon as it has a tiny bit of profit.
 
Quote from sttrader:

Rigged market. Short scalps with small short core holding or puts is the way to play this for now. Or longs with close stops. Either way, market environment has changed for the time being until people realize that their purchasing power is going down the drain with devaluation of hard earned dollars. Think the gov't is looking out for you? Think again as they only look out for their own interests.
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Best to short for scalps. Market should pullback but rarely does what you want it to especially when it's being manipulated more than ever before. This is just another bubble.

I'm sure many here know this or saw this. Part I of V

http://www.youtube.com/watch?v=nXfTleqKr-U
 
We just had a failure on the NDX at 1618. Since the height is 30, the 3rd top should be around 1648.
This doesn't show up on the SPX so obviously, so it is hard to do the math using SPX numbers...

35bcc4o.png


If it plays out then my call for the top at 1007 was a tad bit early...
 
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