ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Short 1126.00. Target 1112.75. Tomorrow, maybe ?
I am short the SPY 113 Sep put expiring this Friday. Stop is cost of put, profit target I am looking for a 50% to 100% gain.
Both stop and target will be affected by price chart of ES for Wed.
Both stop and target will be affected by price chart of ES for Wed.
This should mean to say, I bought the SEP put, not that I sold it.
Pek - regarding t-days... notice how the market sold on heavy volume but is stubbornly staying GREEN (i.e. looking to close at or above yesterday's close).
IMO t-day is more about painting the tape so the talking heads can say "stocks closed higher" all the time (like at least twice a week).
IMO t-day is more about painting the tape so the talking heads can say "stocks closed higher" all the time (like at least twice a week).
The position is currently 25% ROI, I see no reason to close it out with a nice reversal today which is extremely bearish. I actually expected we were going to close near 1121 on the ES which is when I bought the put or I would have shorted the ES also. Anyone long is now trapped, and I hope to see more downside on Wed.
So no Tidiot trades today from anybody? Actually today WAS a decent T-day (although ended as a Doji) but nobody really captured the morning's 11 pts move I guess. If we only talk about it but nobody trades it then it is as worthless as if it wouldn't work... I apologize if somebody on my Ignore list actually posted a T trade...
For me the long entry would have been the first green 5 mins candle of the day....
I don't really subscribe to the notion of THEM doing something in unison... A bunch of computer programs might act together, but it isn't like a conspiracy or something...
For me the long entry would have been the first green 5 mins candle of the day....
I don't really subscribe to the notion of THEM doing something in unison... A bunch of computer programs might act together, but it isn't like a conspiracy or something...
Yet another losing TDAY! I told you fools their is no edge with that stupid theory.
We agree.
Like minded people with similar interests are likely to behave similarly... no conspiracy meeting required.
I also think self-fulfilling prophecies abound in the markets... especially now with every guy and his dog overfitting past data and then doing algo BS with it.
RE: t-day today - I trade with the trend with shorter and shorter holds until I reach a point where I sit on my hands. We are at a sit on hands moment so I am only looking on the short side for trades.
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