ES Journal Archive (2011)

[cashcarewins]

Pretty clear triangle today, this on top of 7 days of range compression.

http://share.esignal.com/groupcontents.jsp?folder=&picture=201104075minTriangle.png&groupid=705

 

[bigsnack]

Yes, it's definitely triangle time again!

 

[crazyAtrader]

Looks like we stalling and playing games until earnings resume. Good time to buy pullbacks until the inevitable comes (new highs).

After that time to play defensive, we'll see what happens.

Waiting for 1316 1296 and 1275 to initiate longs.

Crazy A

 

[volente_00]

Quote from BA_Trader:

IMO the break out is up and we see 1350 in the next couple days... market has been churning under 1338 for 8ish days. That's a lot of buy stops from the top callers... that spike today cleared out a bunch of the longs who will be more than ready to jump back in if it starts to run up.

...just IMO

17 before 50

 

[bigsnack]

Quote from crazyAtrader:

Looks like we stalling and playing games until earnings resume. Good time to buy pullbacks until the inevitable comes (new highs).

After that time to play defensive, we'll see what happens.

Waiting for 1316 1296 and 1275 to initiate longs.

Crazy A

Nice juicy flips of R to S on the 4 hour chart I presume?

 

[crazyAtrader]

Quote from bigsnack:

Nice juicy flips of R to S on the 4 hour chart I presume?

Yes I keep my trading very simple.

Crazy A

 

[ammo]

Quote from BA_Trader:

IMO the break out is up and we see 1350 in the next couple days... market has been churning under 1338 for 8ish days. That's a lot of buy stops from the top callers... that spike today cleared out a bunch of the longs who will be more than ready to jump back in if it starts to run up.
...just IMO

we are the dumb money,every one saying it's going up,smart money's on the other side,possible distribution under that 38-39 resistance trendline,longs having their sell stops above,big boys arent sharing ,selling early right under the line..take it with a grain of salt

 

[crazyAtrader]

Quote from ammo:

we are the dumb money,every one saying it's going up,smart money's on the other side,possible distribution under that 38-39 resistance trendline,longs having their sell stops above,big boys arent sharing ,selling early right under the line..take it with a grain of salt

I agree that something smells fishy with this uptrend but I don't like to argue with price.

This thing has been going up for two years now!

Crazy A

 

[volente_00]

put my shorts back out at 30.25

still holding 1/3 from 34.5 as well




avg is 31.66

stop is 36

 

[BA_Trader]

Quote from ammo:

we are the dumb money,every one saying it's going up,smart money's on the other side,possible distribution under that 38-39 resistance trendline,longs having their sell stops above,big boys arent sharing ,selling early right under the line..take it with a grain of salt

We agree ... I think a run above 38 will have a fairly short lifespan but will be impressive enough to make shorts fold and trap some bulls. In other words one of those spikes that the ES loves so dearly.

I think we test 1200 from above once that plays out... but DEFINITELY take that call with a grain of salt... this market finds all kinds of ways to not sell off.