ES Journal Archive (2011)

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Quote from Nexen:

The insatiable search for the top continues and our esteemed shorts keep providing fuel for new higher highs based on their own stubbornness.

Keep it up bears and thank you.
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After watching this for years I can honestly say some of these guys are plants. Know one could be this dumb for so long.
 
Quote from ammo:

Vol, in spy exp, 130-132?
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Little call interest


Lot of puts





132 - 132.38 looks like a good magnet



Often the low or high for this week comes on weds.


Weakness at the r10 30 leads me to believe a short term top is near but could run up to 1350 cash

Gut says 1333 cash is close for a top.

If I was swinging, which I never do.


I would short


29-30 es with a 20 point stop



with adds

at


34

39

44

and 49 if it got there.
 
Quote from Rickshaw Man:

Know one could be this dumb for so long.
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Know one know one! :D

People trade what they think, not what they see, I told these guys countertrend analysis does not work consistently.

Technical analysis is only useful with the trend and that's assuming there are no news involved, otherwise, all bets are off.

Trends eat technical analysis for breakfast, eventually one will work but most of the time that happens on the point of no return.
 
random thoughts



r10 is 30
50% is 25
Until that breaks we go to 33-34 next on the stop run
Pattern looks like a cup with a handle
Neither postions offers a r:r that I like.
 
Could very well turn out to be one of those wiggle around, close unched days today, ahead of tomorrow's Retail Sales.

Last month the day before R.S. ES closed down 1 pt from the open.
 
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