ES Journal Archive (2011)

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Targets for Monday:

1180-1182 downside. Worst case scenario 1150; probably not until Wednesday should washington botch deadline. Europe still a wild card.

1229-1231 upside. Best case scenario 1242; unless washington and Europe pull something out of their arsches which would push this to who knows where.

I have no positions into the weekend. Selling the 1210 puts on Thursday worked out quite nicely for me. Good luck to all next week.
 
http://news.yahoo.com/debt-panel-poised-admit-failure-210257032.html

ES broke down to new lows due to debt panel. However, no reason to chase it down with a short order.

However, I have a bearish bias on 6E (EUR/USD) Dec contract. I am not sure when I need to roll over this contract and to what month. For example does it follow months of ES or CL more closely.

Got short 6E but brought stop down too soon and got stopped out at BE+2. Then set price alerts. Alert got hit, and shorted again on silver pin setup with a scalp target and no moving of stops or targets this time. This was best trade. I had a limit order if ES wanted to double bottom test support, but ES decided to go up slowly and not very much, so canceled the order.
 
Quote from mastacoli71:

woohoo!, broke the most recent 60 min wedge on the 5th touch...can u say 1195 coming

Full follow through is 1179 for the 60 min, daily is 1150. could this be the day? Apparently super committee needs a proposal by today otherwise Weds deadline is hosed. Did we expect any other outcome from our wonderful congress? Our tax dollars hard at work.
 
Looking weak here. If 92 breaks, no retrace after all? :eek:

EDIT: If 92 breaks, maybe 90 could be support though. Hard to say, so the reward on a short may be limited at this point.
 
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