ES Journal Archive (2011)

[Picaso]

Quote from marceck:

Panic selling in gold could kick in as it is not behaving according to everyone's plan. That would target 1577.

 

[cooolweb]

never bet against volente's calls.
if his and yours match, bet the motherload.
short 350k and holding.

 

[Picaso]

Quote from GordonTheGekko:

Did the same.

Question: why not kick Greece out of the EU? Who cares about Greece!?

European banks have bought Greece's debt --> not interested in haircuts, much less bankruptcy

American banks have sold Greek debt CDS --> not interested in bankruptcy + current situation untenable --> want haircuts (yet that makes CDS worthless)

 

[Laissez Faire]

Maybe it is a trend day, but not a clean one unless we start selling off very soon, IMO.

I still think we may be forming a bottom in this zone, but I will probably sit on my hands for a while.

If one gets a clean entry, the best reward should be to the upside for today.

Negative internals with no corresponding sell-off could just as well be a divergence and a good long signal, yes?

Most of the drop happened in after hours.

Quote from volente_00:

gap magnet around 86 cash

Why do I not see it?

 

[Laissez Faire]

Long @ 1185. Stop @ 1183. Same target as earlier.

 

[ammo]

Quote from GordonTheGekko:

Did the same.

Question: why not kick Greece out of the EU? Who cares about Greece!?

gotta keep the ponzi going.....http://www.forexcrunch.com/bankers-fools/

 

[Laissez Faire]

Another thing is that both NQ and ES is climbing up a trend line now, so it does not look very weak in that respect, unless we break that trend line.

We also have the 20-EMA above now.

May scratch my trade if 86 is resistance one more time.

 

[diablo11]

Quote from Laissez Faire:

Maybe it is a trend day, but not a clean one unless we start selling off very soon, IMO.

I still think we may be forming a bottom in this zone, but I will probably sit on my hands for a while.

If one gets a clean entry, the best reward should be to the upside for today.

Negative internals with no corresponding sell-off could just as well be a divergence and a good long signal, yes?

Most of the drop happened in after hours.



Why do I not see it?

We are in a channel, 1210 on Friday was to take out as many stops as possible. Market starting to absorb the fact that the FOMC meeting will be a non event and the channel drifts lower in my opinion. Ill take cues from economic recovery stocks and the bond market to tell me if a rally is real, both of those indicators barely budged last week and are down big this morning.

FYI- Shorty 2 @ 1203 from Friday, Target 1145.

 

[Laissez Faire]

Quote from Laissez Faire:

Long @ 1185. Stop @ 1183. Same target as earlier.

Another scratch trade. Out @ 85,25.

Not too confident in either direction, so I`m playing defensively.

 

[Laissez Faire]

If one believes in chart patterns, there is now an ascending triangle on the 5-minute and that one is supposed to be a bullish pattern.

The current 50% level is the resistance level above.

In the event that the pattern fails, I guess we head lower.