ES Journal Archive (2011)

[Laissez Faire]

Monday`s high next stop?

I actually traded that breakout of the 1-minute that I posted, but for once I decided to take off some points and not B/E my trade and here we are

Still, not so sure if I`m confident in entering a long from here either. May wait to see if this move ends and fade it. Unless we actually may see a trend day into the close.

Where`s emg?

 

[volente_00]

Shorting 28,33, and 36. Stop is 1154. Target. Is 1040's

 

[Laissez Faire]

Quote from volente_00:

Shorting 28,33, and 36. Stop is 1154. Target. Is 1040's

Question.

When you`re scaling in like this, is that because you think 28 may be the actual top and you want to start building your short position in case it is?

I take it that if 28 is the actual top for now, you will be adding as we trade lower instead to reach your desired number of units for the trade?

Thanks.

 

[Laissez Faire]

I wonder if the PPT used up all their cash into the close yesterday.

Trend line broken. Just like yesterday. It could of course be a fake break and a function of the time of day, before continuing higher later.

The 50% now lines up with yesterday`s highs, so that level could be worth watching.

 

[mastacoli71]

Quote from volente_00:

Shorting 28,33, and 36. Stop is 1154. Target. Is 1040's

Now your talking. I started at 24. Looking at 36 and and 43. By 43 will be at 5 contracts total.

 

[mastacoli71]

Quote from mastacoli71:

Now your talking. I started at 24. Looking at 36 and and 43. By 43 will be at 5 contracts total.

I should add that my shorter term direction indicator is pointing to the upside which sucks but you have to start somewhere.

 

[tstones]

short 24.75, 2 pt stop

stopped

 

[Wittgenstein]

Quote from tstones:

short 24.75, 2 pt stop

stopped

Only a 2 pt stop..??

 

[bigsnack]

Target 31.75's

 

[Laissez Faire]

Failure to take out the daily highs here may or may not be a good short