ES Journal Archive (2009 - 2010)

[BoyPlunger]

I don't know why but I just feel unbelievably bearish right now. Kept selling momentum stocks all day, and covering at a loss. Finally at the end of the day, I sold and am taking home short this weekend some midcap and russell 2000 futures. Anyone notice that end of day spike? Either all the problems are solved or this is the biggest short squeeze we've seen since fall 08. I took a couple points of heat, but for whatever reason, it isn't bothering me at all. (sold them at 714 and 608.4 respectively) these indexes and the NQ have closed the gap from last thursday's sharp drop. Not much more upside left imho.

there are some other very bearish looking charts. these are stocks i use as clues to overall market direction. they have been first movers in other words.

xlf, gs, idu and especially jnk, lqd, tfi, tck.

 

[ammo]

read the article in the above post, berkshire is becoming part of s and p and they had to buy a lot of stock to rehedge portfolios

 

[codliver]

Ammo and his channel with ES 10 to 11 bollinger squeeze? Buy was like watching the sun rise, slowly but never failing. These scenarios are not to be analyzed until paralyzed, but to enter the simple direction that is obvious. JMHO

 

[pwrtrdr]

Quote from ammo:

i only hedged partial i will have all day to leg in and out,as opposed to locking in a loss, but while market is closed , i am vulnerable http://www.optionshouse.com/blog/berkshire-hathaway-b-brk-b-splits-its-way-to-the-sp500-724

Wouldnt you just buy puts? what the put call prem. skew ? if any ?

 

[ammo]

after reading about about 20- 30 articles a day and then trading the screen with all that in your head, it gives u a larger market picture bias ,traded on a shorter timeframe, , throw in add, where u r always looking at 6 things at once,and a 30 minute move at the end of the day, sometimes u just keep a position

 

[ammo]

Quote from pwrtrdr:

Wouldnt you just buy puts? what the put call prem. skew ? if any ?

there are deep itm so not much premo

 

[pwrtrdr]

Quote from ammo:

there are deep itm so not much premo

Ok, but if your bearish just buy ITM or ATM puts for low cash and get paid if your right


trading underlying in conjuction with options is for delta trading, gamma etc....


I dont know, I just wonder why people "do things" if your bearish, I hear yeah. I'm bearish too, but today I feel like were going higher Tues.,

 

[romik]

I will be looking long next week, wake up people this is a pullback.

 

[ammo]

romik,what do you think about the eur/usd hitting 1.3 1st

 

[volente_00]

Quote from ammo:

read the article in the above post, berkshire is becoming part of s and p and they had to buy a lot of stock to rehedge portfolios

Still was nice volume in es last 10 minutes before cash close.