ES Journal Archive (2011)

[volente_00]

Quote from Trvlwanderer:

You are not looking at 91 area as the r10 from low of 82.5? Seems it may be a place to short.

What am I missing on this one Vol?

short was based on previous support at 88 becoming resistance

 

[ammo]

spx , buy the dip ended a few weeks ago..red dotted line

 

[tortoise]

Quote from tortoise:

Le Taureau est mort.

So, do we reach the 1250s today or tomorrow?

 

[volente_00]

Quote from volente_00:

shorted 87 with a stop at 91


target is 78-79

oco took me out on the other half at 78 while dreaming about mojitos

 

[volente_00]

Quote from tortoise:

So, do we reach the 1250s today or tomorrow?

we are within 10 points of a major squeeze


whether it comes from the 76 area r10 or we trade down to 67 is what I can't answer for sure. As of right now the area to project to is ~1312. if we tag 1267 then that area will move to ~1307

Short side is very heavy and lot of fuel to make it happen

 

[Rickshaw Man]

Quote from volente_00:

we are within 10 points of a major squeeze


whether it comes from the 76 area r10 or we trade down to 67 is what I can't answer for sure. As of right now the area to project to is ~1312. if we tag 1267 then that area will move to ~1307

Short side is very heavy and lot of fuel to make it happen

Friday as usual.

 

[tortoise]

Quote from volente_00:

we are within 10 points of a major squeeze


whether it comes from the 76 area r10 or we trade down to 67 is what I can't answer for sure. As of right now the area to project to is ~1312. if we tag 1267 then that area will move to ~1307

Short side is very heavy and lot of fuel to make it happen

Well, we do have that gap on the SPX at about 1273 or so. That's a logical spot for a squeeze. Having said that, there is the potential for things to get out-of-hand, and fast ...

 

[tortoise]

Quote from Rickshaw Man:

Friday as usual.

My impression is that pre-opex reversals, IF they happen, happen on the Wednesday or Thursday before opex.

On the other hand, triple-witching opex can amplify an already-existing trend.

 

[volente_00]

Quote from tortoise:

Well, we do have that gap on the SPX at about 1273 or so. That's a logical spot for a squeeze. Having said that, there is the potential for things to get out-of-hand, and fast ...

that area is also a r10 extension off of the previous low

 

[tortoise]

Quote from volente_00:

that area is also a r10 extension off of the previous low

There was something strange about yesterday's close as well. We hit a new low, but breadth -- measured by adv-decl and up-dn volume on both NYSE/AMEX and NASDAQ -- was positive, while breadth measured in the same way on SP500 and NAS100 was positive until 3:45 before following the futures hard south.

In other words, to my eye, the broad market wasn't really participating in the futures-driven flush, with its accompanying arbed-driven dumping of the big stocks.

And then, fwiw, there's the VIX, which carved out a lower daily high for the third day in-a-row .... and just before the close.

I wonder, Volente ... might your squeeze start at 2:00 pm this afternoon?