ES Journal Archive (2009 - 2010)

pokito · Nov 10, 2009

Quote from MandelbrotSet:

At the Opening Bell, the uptrend remains intact, but it's looking like more a consolidation type of day is in the making.

Price sits in-between its Pivot Point at 1083 and R1 (First Resistance) at 1101. Either target could be hit today, or it could just trade in a narrow range.

Good trading

that's what I thought too....
market can go up, or it can go down - if not it will be sideways today....lol

jjj1000 · Nov 10, 2009

Bought spy put option 110 strike Nov 20 at $1.57
Stop: none (all premium paid is at risk)
target: play by ear

MandelbrotSet · Nov 10, 2009

Quote from pokito:

that's what I thought too....
market can go up, or it can go down - if not it will be sideways today....lol

My point was that is going to be a consolidation day, not going to be a trending day, like yesterday was when I called my successful breakout trade.

LOL indeed.

MandelbrotSet · Nov 10, 2009

Quote from jjj1000:

Bought spy put option 110 strike Nov 20 at $1.57
Stop: none (all premium paid is at risk)
target: play by ear

Intersting market call, please keep us updated.

MandelbrotSet · Nov 10, 2009

Ah, for some reason I feel like I've accomplished (yet another) goal today ... don't remember what it was though!

Good trading to everyone.

tortoise · Nov 10, 2009

Quote from jjj1000:

Bought spy put option 110 strike Nov 20 at $1.57
Stop: none (all premium paid is at risk)
target: play by ear

What's your rationale?

gobar · Nov 10, 2009

Quote from tortoise:

What's your rationale?

when market is irrational y trade has to be rational?

NoDoji · Nov 10, 2009

Quote from jjj1000:

Bought spy put option 110 strike Nov 20 at $1.57
Stop: none (all premium paid is at risk)
target: play by ear

Are you playing large size for intraday move, or is this a multi-day hold?

I'm also interested in SPY puts play but back month for a longer term swing. Waiting to see if we get a test of highs first.

tortoise · Nov 10, 2009

not enough call open interest to make that play attractive, imho...although i see things have perked up a bit in that department since yesterday

jjj1000 · Nov 10, 2009

Quote from NoDoji:

Are you playing large size for intraday move, or is this a multi-day hold?

I'm also interested in SPY puts play but back month for a longer term swing. Waiting to see if we get a test of highs first.

I am pretty much a discretionary trader, although I use everything in my analysis, like technicals, fundamentals, news plays, tape reading, etc.

I am not comfortable talking about the size of my positions. regarding the trade I posted, it can be multi-day or not, but I feel it can be a winner soon. My horizons are normally intraday to a few months holding.