ES Journal Archive (2011)
- Thread starter Buy1Sell2
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And gap is filled.
Down today due to fighting against trends. However, was able to pull off a good GC (gold) trade. Problem before was averaging into and holding losers. So on the GC trade, I bought near a possible support level where previous resistance became support. Now if I am wrong and it wants to go to the lowest support level or lower, there is no need to ride it all the way down. So I put my stop below where GC could stop me out indicating support was not going to hold and had a very good risk vs reward for this trade. Then I targeted a previous resistance level, and went out to pick up some food.
When I got back my GC trade hit profit target. My ES trade which I kept averaging into and taking 1 contract out at BE did not hit target but was 2 points in my favor, so just decided to kill it, and wait for the next day to hopefully not over trade and trade more like the GC trade.
When I got back my GC trade hit profit target. My ES trade which I kept averaging into and taking 1 contract out at BE did not hit target but was 2 points in my favor, so just decided to kill it, and wait for the next day to hopefully not over trade and trade more like the GC trade.
Quote from gkramer:
Yep. 40 was the bottom of the channel. Pullback to 70ish, led by tech.
Short covering rally to the top of it now
Not even radiation can stop DEMTDAYBOYZ
68-70 break started the mini crash.
Now overnight melt up stopped at 68-70 again =)
Op ex + news shock = wild swings with all out effort to push it back to the target closing area.
TDay Boys are also bad boys!
10% limit down move from even 1324 can force for a print of 1224.
How? California earthquake at same scale will do.
Actually any sudden bankrupcy from a TBTF bank will do too.
Not wishing something like that (natural disaster) to happen but your claim of act of God cannot make 1224 happen is not quite right.
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