ES Journal Archive (2011)

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Quote from Laissez Faire:

I`m willing to leave some open profits on the table on the hypothesis that we could drop a lot further in the last 15 minutes.

Is that a reasonable hypothesis?
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Edit: No

Take the money and run!
 
Quote from Picaso:

For the last time, Dadog: LF's sexual choices have nothing to do with his trading!!!

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:D :p

Totally kidding, I think I need a mojito - have a great weekend everyone and congrats to those who made money today or this week!
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I know, I know

Hey, there are women and wifi in there !!

enjoy that beverage
 
Quote from mastacoli71:

Clooooosssssssssssed. +30.5 pts today. Not bad for a fade trader. Still holding 2 contracts for the potential flush.

Good weekend all.
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You mostly shorted today right? If so, then you traded WITH the strength which was demonstrated from the open today, particularly from 11am on. Only around 2:00 did the tide really turn towards longs, that's when you missed your short call when the longs were in control.
 
Nice job at the end there everyone. I got taken out of the long at 60.25's on a limit order while I was at lunch. LF's trading is ON POINT lately. Bravo buddy!
 
Quote from JoshDance:

You mostly shorted today right? If so, then you traded WITH the strength which was demonstrated from the open today, particularly from 11am on. Only around 2:00 did the tide really turn towards longs, that's when you missed your short call when the longs were in control.
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covered my 2 1155 calls that i carried overnight this morn for 1 pt
sold at 8:36, 1170 calls, expired worthless
sold at 10:31, 64.25, covered at 60.25
sold at 11:55, 59.5, covered at 55.5
sold at 14:20, 54, covered at 52.25
sold at 15:16, 59, covered at 57
sold at 15:49, 62.25, covered at 57

For the record, still carrying 2 contracts where with my strat, I have averaged the cost to 1157.5 and I am still net positive on the position by $2600 in 3 days trading very reasonable size.

Call it longs/shorts being in control. I have a system that I trade and I control my risk.

I am not here to prove somebody right or wrong. Maybe that is not your intention but it sure seems like that. To each his own. At the end of the day, it is all about making money.
 
As addendum & FWIW, the double bottom made @ 1106 made on the weekly April 2002 was what I call a Buy Unchange. It was a double top and since buyers have struggled to make 70's a floor. Few anticipated accumulation at these levels though and the fiscal quarter growth rate still indicates buying. Bank of America having as much stake in the 500 as they do and their dismal performance may indicate this trend quickly reversing intermediate, but if the bottom falls out the U.S. government will surely bail them out. The 500 is Bank of America essentially, which to me as an American embarrasses me. If there ever was a machine ad that glows plastic. Anyway, if bailed out, more buying.
 
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