ES Journal Archive (2009 - 2010)

M3peat · Apr 7, 2010

Quote from volente_00:

Yes, if you consider 1 point a gap

fits nicely into the 117 - 120 range indicated by spy options

I guess I didn't know what qualifies as a gap. What is the consensus? 2pts+?

volente_00 · Apr 7, 2010

Quote from M3peat:

I guess I didn't know what qualifies as a gap. What is the consensus? 2pts+?

It's valid, but the bigger the gap, the more of a magnet it will be

Eko_Trader · Apr 7, 2010

Dear Shorts

Be careful. We've seen this movie before. The market sells off, shorts pile in only to see the market go to new highs on the back of running their stops.

Sincerely

Eko

M3peat · Apr 7, 2010

Quote from volente_00:

It's valid, but the bigger the gap, the more of a magnet it will be

To be honest, I don't even understand why its a magnet but I don't really care either. Just as long as I'm aware of the concept.

volente_00 · Apr 7, 2010

Quote from Eko_Trader:

Dear Shorts

Be careful. We've seen this movie before. The market sells off, shorts pile in only to see the market go to new highs on the back of running their stops.

Sincerely

Eko

stop run to 79 eod

athabasca · Apr 7, 2010

Going short on a break down of support in this market has been akin to being suicidal indeed. So if wanting to go short at all, short the resistance and get out some place ABOVE the support, because we've had a tendency to shoot above upper targets and stay above lower ones.

BA_Trader · Apr 7, 2010

Quote from volente_00:

stop run to 79 eod

....and DEMTDAYBOYZ gap it and run it to 1200

volente_00 · Apr 7, 2010

Quote from BA_Trader:

....and DEMTDAYBOYZ gap it and run it to 1200

NoDoji · Apr 7, 2010

Quote from athabasca:

Going short on a break down of support in this market has been akin to being suicidal indeed. So if wanting to go short at all, short the resistance and get out some place ABOVE the support, because we've had a tendency to shoot above upper targets and stay above lower ones.

I will confirm this. I shorted 3 or 4 breakdowns of range lows lately and the most any of them moved was 4 pts. (Though I wish I'd been around for today's breakdown, all the good stuff happens without me.)

Eko_Trader · Apr 7, 2010

Quote from athabasca:

Going short on a break down of support in this market has been akin to being suicidal indeed. So if wanting to go short at all, short the resistance and get out some place ABOVE the support, because we've had a tendency to shoot above upper targets and stay above lower ones.

Ditto.