ES Journal Archive (2009 - 2010)

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Quote from Eko_Trader:

Why? Goog hit $600 yesterday and pretty much stuck with it. What made you think it was showing any weakness?
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posted chart yest on page 12716
 
Trvlwanderer,

the gorillas buy and sell on balance. 1200 is their last even point. When market touches 1200, they will have booked millions and start the whole cycle all over again.

and the funds are not the gorillas.
 
Quote from rock34748:

I'm considering wave's comments. Break out the longer term charts, look at qtr's, draw trends, the area makes sense. Strict day traders may not care so much, understandable. Disclaimer, I'm a noob, so ignore this.
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I definitely think Wave's comment makes sense, and I'm considering it as well. He's one of the more reasonable-sounding minds on this journal. However, you have to keep in mind that the same was said for the Nasdaq @ 2100. 2100 is S&P's 1200....I definitely remembered Carter Worth (Analyst @ Oppenheimer) giving the same reasoning for a correction on the Nasdaq. Momentum simply just overshadowed that reasoning. So be careful. Keep in mind that I'm offering you this caution because you mentioned that you're a noob.
 
wave has made some very good calls over the past few months. appreciate your commentary. rock is right about long term charts. if it can go there, it prob will. i wouldnt mind a h&s to play out first tho...
 
Quote from ammo:

add 13.5 edit add 14,add 14.5,15
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Ammo, I'd be very interested to hear a brief comment on your stop/exit strategy in the rare event one of these scaled-in trades gets out of hand.

Thanks.

t
 
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