ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Of course, the higher the closing price - the better for the sell-off tomorrow...
I bought Aug SPY puts so we will see what happens.
If they beat consensus tomorrow, they will take this thing to the moon!!! Bears aren't in the way at all.
Lost $ 37 today on futures, 2 trades both shorts. Market looked weak, and was hoping to get a good short in before a break to the downside at 1121.50.
Issue with this trade was that although some of my indicators were at top of range, they never turned lower. Also, since market was in a tight 1 point range, I thought that was a resistance area, but fibs did not confirm that was resistance, I had small stop in case market broke to upside instead.
After market broke to upside, I looked at a very high resistance around 1125 which I thought with the negative report this morning, market would not be able to breach, and I could make some money.
Again, I was wrong, as market topped out 1 point below at 1124, and indicators finally turned lower AFTER price had already fallen. However, with indicators now turned down, I went short again with a very small target and stop, and target did get hit before market rallied once more.
Now, I did not go long at target price although that would have made around 2 points, because with everything now turned lower, it was very possible for a hard sell off, but that could come on Friday. I am using puts, since if report is not that bad, then market could either just not go down, or even rally more and with puts, the stop is hard and can not be jumped like on futures.
Issue with this trade was that although some of my indicators were at top of range, they never turned lower. Also, since market was in a tight 1 point range, I thought that was a resistance area, but fibs did not confirm that was resistance, I had small stop in case market broke to upside instead.
After market broke to upside, I looked at a very high resistance around 1125 which I thought with the negative report this morning, market would not be able to breach, and I could make some money.
Again, I was wrong, as market topped out 1 point below at 1124, and indicators finally turned lower AFTER price had already fallen. However, with indicators now turned down, I went short again with a very small target and stop, and target did get hit before market rallied once more.
Now, I did not go long at target price although that would have made around 2 points, because with everything now turned lower, it was very possible for a hard sell off, but that could come on Friday. I am using puts, since if report is not that bad, then market could either just not go down, or even rally more and with puts, the stop is hard and can not be jumped like on futures.
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