ES Journal Archive (2011)

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Retraces are welcomed this is precisely what I was hoping for after selling nearly the highs.

Buy the dip just like I did.

j0lo51.png
 
So I was watching the ES action after the bell as things were settling into the 1273-74 range then in the last few seconds whoosh...70.5..... strange ...so I checked the 1 minute candle and yes in the last minute of trade with HUGE volume down almost 4 pts...a bit unusual? Usually there is short covering, esp going into the weekend causing uptick rather than down.

anyone want to venture a guess? rumor? innuendo?
 
Quote from RichardRimes:

So I was watching the ES action after the bell as things were settling into the 1273-74 range then in the last few seconds whoosh...70.5..... strange ...so I checked the 1 minute candle and yes in the last minute of trade with HUGE volume down almost 4 pts...a bit unusual? Usually there is short covering, esp going into the weekend causing uptick rather than down.

anyone want to venture a guess? rumor? innuendo?
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One can't sell on saturday nowadays.
 
Quote from Nexen:

Retraces are welcomed this is precisely what I was hoping for after selling nearly the highs.

Buy the dip just like I did.

j0lo51.png
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you picked a top and a bottom,you predicted a top and now a bottom,right or wrong,you put your trading opinion out there,same as the rest of us,bulls and bears,now if we can leave the slaggging behind us ,,this journal will improve
 
Quote from ammo:

you picked a top and a bottom,you predicted a top and now a bottom,right or wrong,you put your trading opinion out there,same as the rest of us,bulls and bears,now if we can leave the slaggging behind us ,,this journal will improve
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There is a world of difference between picking the bottom of an uptrend, retracement, and picking the top of an uptrend, therefore, I do not agree with your assessment.

I believe Nexen felt comfortable selling at new highs he did not try to pick a top. However, he is now trying to pick the bottom of the retracement. Market remains bullish for now and until proven guilty this is yet another retracement and not reversal. I personally think he is a little too early but I don't know if he is planning to add or where his stop is for now. I do like the premise of the trade for now as I see massive support at the high 60s and mid 50s.

NAD
 
Quote from noaveragingdown:

There is a world of difference between picking the bottom of an uptrend, retracement, and picking the top of an uptrend, therefore, I do not agree with your assessment.

I believe Nexen felt comfortable selling at new highs he did not try to pick a top. However, he is now trying to pick the bottom of the retracement. Market remains bullish for now and until proven guilty this is yet another retracement and not reversal. I personally think he is a little too early but I don't know if he is planning to add or where his stop is for now. I do like the premise of the trade for now as I see massive support at the high 60s and mid 50s.

NAD [/QUOTE http://www.elitetrader.com/vb/showt...page=6&highlight=flipflopper&pagenumber=12659 basis for assessment was explained ,i agree with the maybe too early comment
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