ES Journal Archive (2011)

[gmst]

Quote from Picaso:

1) Why rush?

2) The market doesn't care whether you're in a hurry or in a hole, or whatever.

fair points, basically by rush i meant that i will rather book quick singles which have a much higher probability of getting through rather than waiting for 3-4 pointers.

ofcourse, if it seems that price might go 2-4 points, i will go for that

 

[Laissez Faire]

Quote from gmst:

putting order out there.....stop long at 1234, stop target 2 points each

Edit: Basically have no view here (i am rather short biased....but if mkt goes up i think it will take out 34 in a flash and go up 1.5-2 points straight up in momentum

In case you guys did not notice, the market is currently facing resistance one tick below the opening range.

Same with NQ and YM.

50% is at 34, just above. Could very well spike to 34, fill your order and reverse.

Better yet, wait for it to penetrate the opening range and 34 and enter on the pullback test.

Personally, I`m waiting to see what direction comes out of this flag.

Could very well be south. NQ is still in the red and we have a ES gap below as well.

 

[gmst]

Quote from gmst:

putting order out there.....stop long at 1234, stop target 2 points each

Edit: Basically have no view here (i am rather short biased....but if mkt goes up i think it will take out 34 in a flash and go up 1.5-2 points straight up in momentum

modified: instead went long at 31.25, looking for 2-3 points here

 

[Picaso]

Quote from Laissez Faire:

In case you guys did not notice, the market is currently facing resistance one tick below the opening range.

 

[Laissez Faire]

But please don`t listen to me.

We could very well blast through it. It`s just not a risk that I personally would be willing to assume as it is a potential reversal point.

Further, the pullback usually always comes, although we tend to believe otherwise in the heat of the moment.

 

[gmst]

Quote from gmst:

modified: instead went long at 31.25, looking for 2-3 points here

out 33.5

hurrah....green for the day except for commissions, still red including commisions..


one hour ago i was down like 7/8 points or so

 

[gmst]

Quote from Laissez Faire:

But please don`t listen to me.

We could very well blast through it. It`s just not a risk that I personally would be willing to assume as it is a potential reversal point.

Further, the pullback usually always comes, although we tend to believe otherwise in the heat of the moment.

LF - I did listen to you and moved my target from 35 to 33.5. because what you were saying did seem very reasonable.


I highly value your opinion and others too on this board who have been trading ES for sometime.

 

[bigsnack]

36's tagged, but not before shaking me out twice!

 

[gmst]

long 36, probably should hae waited for a pullback but am willing to hold it with a pullback....reason i think we go higher from here....i could be wrong.

 

[Laissez Faire]

All 3 inside the opening range now on positive tick readings.

Perhaps a long on a pullback would be something. I see support at 33-34. Maybe.

Targets above: 43, 45, 49,25, 51,50, 58,25 (half gap), etc.