ES Journal Archive (2011)

[bigsnack]

Flirting with the upside now.

 

[bigsnack]

I missed a fill on a long just after the open, and so far I've been just sitting on my hands. Anyone else?

 

[bigsnack]

Looking like downside potential if we hold below this thing...

 

[tortoise]

there's a long bias on this thread now. i've shared it. the day is young, but i'm beginning to think it may be misplaced. the indexes are acting heavy, i'm seeing evidence of institutional distribution.

if we break the globex lows, i believe that 1150s -- October gap fill -- will be in the cards.

 

[hetanos]

Bought 1185. Stop 1165.

 

[gmst]

Quote from hetanos:

Bought 1185. Stop 1165.

seems like this will be a good trade, your target should be at least 1220.

 

[tortoise]

Globex lows broken. Next test -- yesterday's lows


[edit: just now, first sign i've seen all day of any institutional accumulation. Also, trannies are--just barely--hanging onto the bottom of their first hour range. ]

 

[hetanos]

Quote from gmst:

seems like this will be a good trade, your target should be at least 1220.

Thanks. I hope it works out that way.

 

[JoshDance]

tape looks long

 

[gmst]

Quote from hetanos:

Thanks. I hope it works out that way.

I agree with the theory that globex low broken so we might go lower.....however most of the big money is made by buying when there is blood on street (not saying there is blood on street today, however market is very oversold). This approach works however if you are willing to hold for a longer time like multiple days.