ES Journal Archive (2009 - 2010)

[Picaso]

Notes still near their highs. Bonds have eased somewhat.

 

[BA_Trader]

Quote from Pholeuon:

I believe that it we will end bellow 15 we will see big red candle tomorrow (ending bellow 100)

IMO the key is 27.75... if it is not taken out in the next 12 hours or so market will sell.

 

[schizo]

Quote from schizo:

ADDED 23

Dumping here at 20.25

 

[schizo]

SHORT 19.50

 

[Picaso]

Quote from schizo:

Dumping here at 20.25

That's BE, right?

I thought you'd be taking some off as it went down, feel free to tell me to f@~€ off, but what was your rationale for holding an oversized position? (Not second-guessing you, just trying to understand your thought process)

 

[Picaso]

Quote from BA_Trader:

IMO the key is 27.75... if it is not taken out in the next 12 hours or so market will sell.

England's inflation report tomorrow.
Australia's unemployment after that.
EU's GDP on Friday

Plus trade balance, claims, CPI, retails sales and Michigan.

Why does it have to be in the next 12 hours? (honest question)

 

[schizo]

Quote from Picaso:

That's BE, right?

I thought you'd be taking some off as it went down, feel free to tell me to f@~€ off, but what was your rationale for holding an oversized position? (Not second-guessing you, just trying to understand your thought process)

Technically speaking, I should have bailed out or, at least, taken half off at 16.25. That was where the trendline support stood at the time (check out 30m chart). But the downward momentum seemed to have been picking up (see the long red bar on the 5m chart). I guess I got sidetracked by greed (yet again).

 

[Decel]

Quote from schizo:I guess I got sidetracked by greed (yet again).

Better than fear. I didn't pull the trigger once today!

 

[volente_00]

Quote from schizo:

Technically speaking, I should have bailed out or, at least, taken half off at 16.25. That was where the trendline support stood at the time (check out 30m chart). But the downward momentum seemed to have been picking up (see the long red bar on the 5m chart). I guess I got sidetracked by greed (yet again).

16 is 50% level for day range.

If we hold this level tomorrow we go higher.

 

[Picaso]

Quote from schizo:

I guess I got sidetracked by greed (yet again).

Maybe, but that's what gets you the home-runs too. Still, it was a good trade, first you made some nice profit and then you avoided puking it at the worst moment.

Thanks for the explanation, Schizo