ES Journal Archive (2011)

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Quote from Picaso:

No, didn't get filled :(

Now that I have wider targets and stops (within reason) should probably just hit the bid or lift the offer, but I guess I'm a cheap bastard :D

Was thinking it was going to make an attempt at 30-31 and wanted to improve on EMGs entry :D Talk about hubris... :D :D :D
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Hehe.

Same here, except that I did not try to get filled at 28, since I thought 31 was due.

May get it now. Hell, we may even get the whole gap above for all I know. Remember that emg have been wrong before. He`s just lucky that he can average down and get out for a breakeven. :)

I`m experimenting with using OCO orders in such a situation. For example, possibly a sell-stop at 23 now, while working a limit above in a case I get filled. Anything in between may be considered noise.

Now, we got only the re-test of the breakout it seems. No 31.
 
Quote from JoshDance:

out 2 parts 24.75 and 25.75, looking for 28 for rest

EDIT closed rest 26
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Not saying there are no longs here (almost 20 point rebound) and we're still above the EMA, but...


Quote from Laissez Faire:

Remember that emg have been wrong before. He`s just lucky that he can average down and get out for a breakeven. :)
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How dare you, Sir, how dare you? :D :p


fffff, there goes my pulled 26 order... :(


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By the way, my view is that this is just a technical rebound (oversold, short squeeze, THEY, evil manipulators, blah, blah, blah), but for those fundamentally inclined word is tomorrow Merkel and Sarkozy are having a "chat" with Papandreu - as in "we wouldn't want anything to happen to your daughter in such a dangerous world, etc."

But then, that MF siphoning away a few hundred mills...
 

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Quote from Picaso:

fffff, there goes my pulled 26 order... :(
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Now, it will be interesting to see if this is just a deep pullback or an authentic trend line break.

The opening range high at 21 could be support. Not the first time lately we`ve seen that happen.
 
Quote from tomahawk:

In all honesty, to both you and tortoise, I'm not seeing THAT great a significance to 19.50. Some initial resis. there off the open yes, and then supp., but in the bigger scheme it may prove a pretty minor level today.

On another note, looks like that 50% from extreme to gap level we talked about the other day held, ~ 27.50.
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These things tend to be evanescent. I watched the order flow carefully around 19.50 and, for about 20 minutes or so, the action bordered on comical. It remains to be seen whether or not that level holds any further significance. It may not but, for a while there, it sure did.

This kind of sleuthing is essential, not because every (or even most) price levels of potential significance turn out to be, indeed, significant, but because it prompts one to keep one's eyes open when those levels come into play.

Maybe it was just a coincidence, but your observation was awfully elegant
 
Quote from Laissez Faire:

Now, it will be interesting to see if this is just a deep pullback or an authentic trend line break.

The opening range high at 21 could be support. Not the first time lately we`ve seen that happen.
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Quote from Picaso:

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LOL.

I prefer to enter on a confirmed break, unless I feel really confident (something I`ve not been lately).

See if we bounce here from 20-21 now. Breaking below there, and you still have plenty of points to capture if we get the emg target. :)
 
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