ES Journal Archive (2011)

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I think they should close the S&P and think about the possibility of a new FART, I mean TARP program.

Yes we can!

(Why is that quote familiar somehow?)
 


I think we have a shakeout day on our hands. We'll see.



Boy that was the understatement of the year!!!


Note from a trader's desk.

So the markets are in panic mode. We are still in range expansion mode. No one and I mean no one was stepping in front of the train today until we came close to the circuit breakers. Who? Who knows. It doesn't matter.

As long as range is expanding and the trend is down do not step in front of the train. With this volatility though when we do turn then moves are fast and violent. FED meeting tomorrow which means we could have a short term trend change. Basically we are having repricing occur so PE are changing based on new macrorisks and risk premiums. Once it's all re adjusted then we can figure out the new predicted range. For now everyone is running for the exists on equities. Shoot first and ask questions later.

Good Luck
 
Quote from EliteThink:

Long sep 990 x 1240 strangle at 28 points. stop is zero, target is double entry.
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28 points in total for both legs? And you bought it today?
 
Quote from JSHINV:

28 points in total for both legs? And you bought it today?
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Looked at it more carefully. It was doable if you timed it right. Good fills!
 
SPX 50 SMA still above 200 SMA, but close. May cross. May bounce. But, this boy is not going to try to catch the proverbial falling knife.
 
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