ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Hmm, smart post.
But what it tells me is that Trading is like Poker. In the sense that it's not about reading the cards, but rather the opponent. The exact same thing can be said of trading the NQ, bt to a far lesser degree.
P.S. Huge rally T-morrow (LOL, not a call, just inside j/k).
A few random thoughts:
The VIX is very high compared to actual market movement and that is why we have not seen any scary selloffs so far â there was not enough complacency and therefore too much fear.
Based on the NQ and EUR/JPY we traded back to 7/23/09 levels, so the ES âshouldâ be at 960. The financials have been ridiculously strong in that period, however, and that is what makes the ES so much stronger.
We have not had three consecutive down days in the last two months, so we know what the bulls expect for tomorrow.
The VIX is very high compared to actual market movement and that is why we have not seen any scary selloffs so far â there was not enough complacency and therefore too much fear.
Based on the NQ and EUR/JPY we traded back to 7/23/09 levels, so the ES âshouldâ be at 960. The financials have been ridiculously strong in that period, however, and that is what makes the ES so much stronger.
We have not had three consecutive down days in the last two months, so we know what the bulls expect for tomorrow.
We have almost gauranteed longs from here (@ 981.00) - not my trade, so I won't call it. I'm just saying this baby looks like it's just sitting around waiting for the "thumbs up" signal from GS/JPM Co. to head back up to to 995. 
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