ES Journal Archive (2011)

[Laissez Faire]

There is still a down trend line and a possibly larger triangle on the 5-minute chart, but I would be inclined to believe that the bottom is in.

If not, a short from the 62-64 area is not a bad idea if you can get some kind of confirmation on the price action

EDIT: Broke out of the trend line now. May be a fake breakout.

One option could be a short @ 64 with a stop and reverse @ 66.

Just saying it is a possibility, that`s all

 

[Picaso]

Quote from SrRuthenate:

Suggest breakeven stop and target of 100 points by next wednesday...I doubt you can hold that long, but you are after all, the best trader in Norway.

Quote from SrRuthenate:

Should've left before, but I have addictive traits. Sorry for stepping in your bunions.

Indeed

 

[marceck]

S over N. Not usually a bullish outcome. Don't get greedy with longs, just my take today. Great scalps, though.

 

[Laissez Faire]

Quote from marceck:

S over N. Not usually a bullish outcome. Don't get greedy with longs, just my take today. Great scalps, though.

Good observation. What is S over N?

 

[marceck]

Quote from Laissez Faire:

Good observation. What is S over N?

SPX over NDX.

 

[Laissez Faire]

Quote from Laissez Faire:

One option could be a short @ 64 with a stop and reverse @ 66.

Just saying it is a possibility, that`s all

So, who made money?

I thought I posted this earlier. Brought home a few points today as well, regardless of my stressful scalp session during the open.

 

[Lawrence Chan]

Quote from SrRuthenate:

Shorted it. ----- checked?.

Covered around S1 - checked.

 

[klinckphilip]

Monday +16
Tuesday -3
Wednesday +6.75
Thursday -9.25

Total = 10.50

 

[SrRuthenate]

Quote from Picaso:
Indeed

Sorry. Salsa is for tacos and the lumpenproletariat. I'm royalty. Ming the Merciless. My enemies call me MM for short. I do tango only, no averaging.

Quote from Lawrence Chan:
Covered around S1 - checked.

ORLY ?

 

[austinp]

Quote from Lawrence Chan:

Covered around S1 - checked.

Garden-variety H&S pattern along with two proprietary price measurements suggest ES 1120 zone on further breakdown.

The way algos are slicing swings thru this tape, might be just a speed bump or overnight gap-down move by the open tomorrow.