ES Journal Archive (2011)

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Quote from Laissez Faire:

Too late, I chickened out. :)

Waiting for a break of 1210 now, if it happens. Could set up a nice long from here as well, I guess.

Have you done any stats on the t-day theory?
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I'm afraid I haven't LF. And I'm not even sure I understand it well enough to know whether the opening rally satisfies the conditions or not.
 
Quote from tomahawk:

I'm afraid I haven't LF. And I'm not even sure I understand it well enough to know whether the opening rally satisfies the conditions or not.
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Gents, what is t-day theory - in concise form please. anyone ! Thanks
 
Quote from Laissez Faire:

Let`s say I was short now. Maybe that NQ higher low made me take profits at the low.

I watched that very sign one time I had over 10 point in profits, but my greed was stronger than my rational mind so a large part of the move retraced on me as I kept hoping for 20 points.

So, taking profits at the lows and getting back in, after it breaks, may be the right thing to do in such a situation. :)

Just saying :p

The bounce could after all just be a postponement of the inevitable.
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if you can control it and you have a lot to unload,you by 1 and sell 2 so to speak,taking quick turn profits and losses on a volatile day is a scalpers paradise,plenty of chances to get in
 
Quote from gmst:

Gents, what is t-day theory - in concise form please. anyone ! Thanks
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tuesdays and thursdays(T) tend to be up days,best to ignore day to day theories when market is moving dramatically in a global fashion,works great in day to day movement when spx is staying within avg daily ranges
 
As I said, treacherous action.

I was SO close to shorting 11,50 on a limit, but I controlled the urge.

The fact remains that we have picture perfect support one complete point above the daily lows.

Shorting before that is broken is guessing, unless one get a signal from some other formation.
 
Good thing I did not do that.

Look at the euro now.

Short squeeze from here and gap fill? Nothing surprises me anymore. :)

gmst: If we rally from here, you have just consciously observed your first t-day. The theory is a little vague, but I believe the statistic suggests that if tuesday or thursday is red, the chances are high that the market will rally to green some time during the day.
 
Quote from ammo:

tuesdays and thursdays(T) tend to be up days,best to ignore day to day theories when market is moving dramatically in a global fashion,works great in day to day movement when spx is staying within avg daily ranges
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I did a study on weekday effect on either open-close or close-close (not exactly remember which one, maybe both) prices on S&P500 performance (not ES).

I did not find any statistically valid results
 
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