ES Journal Archive (2011)

[pauk]

Probably pretty cheap down here -- these prices should get snapped up soon.

 

[volente_00]

Quote from Lawrence Chan:

Looking for 21-22 as tell tale zone.

If that fails to hold up the market, you may get a lot more than 17 that you ask for.

=)

if it to be then we are going 27 to 17 next




longer term looking for 1290-1300 in next 8 trading days

 

[Lawrence Chan]

Quote from volente_00:

if it to be then we are going 27 to 17 next




longer term looking for 1290-1300 in next 8 trading days

I have not get such strong breadth divergence reading for a long time. So a drop to 1300 and lower is not a surprise.

The problem is that the better candidate for riding this down could be NQ instead of ES because it is the weakest one in terms of the steep run up we have so far.

 

[volente_00]

Quote from Lawrence Chan:

I have not get such strong breadth divergence reading for a long time. So a drop to 1300 and lower is not a surprise.

The problem is that the better candidate for riding this down could be NQ instead of ES because it is the weakest one in terms of the steep run up we have so far.

dow is what is holding this up

 

[Lawrence Chan]

Quote from volente_00:

dow is what is holding this up

Painting the Dow tape to unload - isn't that what they do in all previous tops?

 

[julian0625]

Short @ 1324.50

Looking for new lows, stop at 1325.50.

We are definitely in a downtrend, so am taking advantage of this pullback.

 

[ammo]

Quote from volente_00:

dow is what is holding this up

 

[tortoise]

Quote from Rickshaw Man:

The easy money is made overnight, the pros know all good little day traders are flat by 3:15 cst. Buy the close and sell around 2am, rises 90% of the time overnight. When was the last time you woke up and saw the index futures down.

Gee, I dunno ... this morning?

 

[David M]

Quote from julian0625:

Short @ 1324.50

Looking for new lows, stop at 1325.50.

We are definitely in a downtrend, so am taking advantage of this pullback.

1 point stop before market open ? good luck...

edit: not gonna rub into you, but you should re-consider your plan.

 

[julian0625]

Quote from David M:

1 point stop before market open ? good luck...

Yes although there is probably a 70% chance of me getting stopped out, I have a R:R of about 5:1. This itself allows me to confidently take that trade.

Stopped out.

We have now made a Higher Low, going to hold off till RTH, to see where we open.