ES Journal Archive (2009 - 2010)

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Quote from Laissez Faire:

Currently stalking the market while reading ET and anticipating a breakout on either side of the 1196-1199 range. No bias yet.

I really need to go the bathroom right now, but I am afraid to leave my desk and miss my daily trading opportunity :D I don`t expect anything to happen in a while though, but one can never know for sure.
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The market surged towards the top of the range, but lost momentum at 1198. If the current 5 minute bar closes below it`s open, I`m prepared to enter short at the 1195 area.
 
I honestly think that several trading desks have lost their ph...ing mind. Todays session is an excellent example of how "volume" is created in a congestion area and a couple of desks are playing "ping pong" with each other. This is not a normal price distribution and is everything but a normal functioning market.

A joke that 500.000 contracts are traded for the last 5 hours without the price moving 2 points !
 
Quote from Laissez Faire:

The market surged towards the top of the range, but lost momentum at 1198. If the current 5 minute bar closes below it`s open, I`m prepared to enter short at the 1195 area.
More...

Not as sure as I like to be, but I just went short @ 1196. Buy stop @ 1197,50.
 
Quote from ASusilovic:

I honestly think that several trading desks have lost their ph...ing mind. Todays session is an excellent example of how "volume" is created in a congestion area and a couple of desks are playing "ping pong" with each other. This is not a normal price distribution and is everything but a normal functioning market.

A joke that 500.000 contracts are traded for the last 5 hours without the price moving 2 points !
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Today's daily range is about as wide as the one made on Tuesday. But what a joke indeed. We had over 3 million shares on Tuesday, whereas we'll be lucky if we can even get 2 million by the end of the day.
 
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