ES Journal Archive (2011)

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Quote from volente_00:

I'm still mega bearish here at 24 ES which was candle low on the daily of last top and 27-28 cash ~ 50% retrace of the last major move
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I don't have the experience to go above your analysis but some friendly advice based on observation.

You shorted and re-shorted and the market had one of the most bullish days since March (according to reports), earnings are coming out mega strong and as you said in the past you see 1400s in the cards and provided statistical edges on 3rd presidential year, so don't quite understand what made you change your mind so drastically.

I too was expecting it lower after yesterday and look how the market responded by nearly taking last week's highs in one session; it made quite the statement.

On top of that the official word from President Obama has not come out and everyone knows Default is not an option, when that problem is resolved the short squeeze should only intensify.

I too want it lower but to buy.

Good luck.

FoN
 
Quote from iloveoptions:

Adjusting the ask now to 1336.25 for the overnight session. Also bidding 1315.75 to close the short.
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With AAPL's strong move in the AH market due to strong earnings, along with positive expectations that most companies will report better than expected earnings, I believe the down move for tomorrow will be quite limited. Therefore, I'm adjusting my exit point to 1317.75 which would be the entry point of my current short position. I'll be lucky if I even get that. We shall see.
 
Quote from iloveoptions:

With AAPL's strong move in the AH market due to strong earnings, along with positive expectations that most companies will report better than expected earnings, I believe the down move for tomorrow will be quite limited. Therefore, I'm adjusting my exit point to 1317.75 which would be the entry point of my current short position. I'll be lucky if I even get that. We shall see.
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May be the right move on your part,however "analysts' had been downgrading a number of companies in anticipation of disappointment.

I would think that if a company exceeded expectations it would,at best, hold it's price and then only to wither away unless their own " guidance" provides some optimism for future earnings in excess of current growth rates.

NiN
 
Quote from noaveragingdown:

The question is not do we rally, the question is do we fill the gap and rally or just rally :D

NAD
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Oh, we're gonna rally alright, that's for darn sure. The year end rally in my opinion started at yesterday's low.
 
Quote from eudaemon:

Gap up and go, for tomorrow, bigger, faster than today. That's what the blackbox on the top of my shoulders says at the moment.:eek:
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perhaps but my blackbox just spit out a 90% chance that 1335 will be the highest we trade before we fill the gap below. Due to this I am moving my stop to 1340 and am adding to my short all the way to 1334. If filled my avg will be ~28. As of right now it is right at 22. So throw me in the add to losers gang :)
 
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