ES Journal Archive (2011)

[tortoise]

Quote from JoshDance:

tape looks long

What do you mean by "looks long?"


[edit: nq joins trannies inside opening range...bullish sign]

[2nd edit: nq loses opening range...bearish sign]

[3rd edit: trannies lose opening range...another bearish sign]

 

[gmst]

Quote from tortoise:

What do you mean by "looks long?"


[edit: nq joins trannies inside opening range...bullish sign]

currently DOM skew +3k

Edit: +1k now

2nd Edit: -4k now.....lol

 

[tortoise]

Quote from gmst:

currently DOM skew +3k

Edit: +1k now

OK, DOM skew changes every 15 seconds or so...not sure that's a good indication of anything beyond the extreme short term, is it?

 

[JoshDance]

Quote from tortoise:

What do you mean by "looks long?"


[edit: nq joins trannies inside opening range...bullish sign]

[2nd edit: nq loses opening range...bearish sign]

Hard to objectively define, but lots of buying, looked bullish. But there was no follow through up above 85...

However, failure to break into yesterday's value area, and still below today's IB low, holding lower distribution. Quite bearish.

http://screencast.com/t/dusJpMIb0

 

[gmst]

Quote from tortoise:

OK, DOM skew changes every 15 seconds or so...not sure that's a good indication of anything beyond the extreme short term, is it?

in my limited experience, sometimes it persists in one direction for more than 2-3 minutes and then usually price goes there. when i typed DOM skew was +ve for more than 2 minutes....however price didnt' follow through...so you have exceptions as we witnessed.

 

[JoshDance]

Honestly it seems that the market wants to go higher, but that perhaps stops below yesterday's low need to be taken out first. Buyers are buying these dips, still it's more bearish, but there's a feel for a desire to move up, just not ready yet.

 

[Visaria]

Quote from gmst:

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

Why 1220?

 

[tortoise]

long 83

stop below yesterday's low

target

we'll see...


[edit: watching activity as europe closes]

 

[Laissez Faire]

As long as we stay below 86, I think we have the potential to sell further today.

One problem I see with entering a swing long here with a wide stop is that 1150 should be a magnet if we break below.

I may very well be wrong and we find a bottom around 1180, just pointing out the risk since there is not much visible support below if a break should happen and one may just as well use a tighter stop.

That said, I`m frequently wrong. Back to bed.

 

[gmst]

Quote from JoshDance:

Honestly it seems that the market wants to go higher, but that perhaps stops below yesterday's low need to be taken out first. Buyers are buying these dips, still it's more bearish, but there's a feel for a desire to move up, just not ready yet.

why wait for price to go up 5 points and then buy, just buy it now and put a large stop like 6-8 points....most likely you will be ok, if and only if your directional feel is correct

btw, i think we are going higher too, but what do i know

I am taking a sim long at 1183, stop 1177, target 1200ish....trading sim because i promised myself again that i wont trade real money ES till i have some more experience, otherwise i would have taken this trade with real money.