ES Journal Archive (2011)

[wave]

I agree, very possible.

Quote from iloveoptions:

I agree with wave. I believe higher prices will be seen before year is out. But I think we'll test the 1165- 1180 level before exceeding 1220 first.

 

[ammo]

Quote from ammo:

sh 88

out 88.75

 

[tortoise]

Quote from wave:

someone just bought a lot of ES...hmm...

good catch Lawrence

not quite yet...

 

[kinggyppo]

gmst what pattern do you see here, where is the logical end of the move?

 

[noone3]

Quote from noone3:

took the 88 ss for a scalp with a stop at 90
i maintain a bullish bias on the longer term though, so let's see if it will manage to go through the immediate support or not

Rule #1: PLAN your trade and TRADE your f**ing plan!!!
i took a loss on this one although stop never hit

 

[ammo]

djt cleavage back to nip

 

[wave]

that entire pullback was buying...

 

[gmst]

Quote from kinggyppo:

gmst what pattern do you see here, where is the logical end of the move?

As I see It:

I was expecting an upward correction in indices for last 2 days of last week - but didn't occur - instead market was selling relentlessly after rallying for 8-10 points intraday. After 7 down days in a row and especially after 3 down gaps in a row, a rebound was very much to be expected. IMF rumour backstopping Italy did the trick and we rallied 3+%. Pre-market, seeing this kind of rally in ES and more importantly in currencies, I thought that this rally might continue and we might go to 1200/1210 over next 2 days before resuming the down-trend. However, looking at uvol/dvol it was kind of clear that a lot of short-covering was behind the rally. After a gapup of more than 15 points or so, ES typically trades in a very rangebound fashion and closes the day almost unchanged or +ve. Today's price action has confirmed (in my view) that we are going down again. Over multiple days, I see today's rally as a retracement in a down-trend. I easily see us breaking 117 and then 115 this week itself. NFP could be the catalyst that might take us to 113 - who knows!

Caution: I am very new to ES, so please take my views with an ounce of salt. Actually, I am little surprised that you asked me for my view

 

[Lawrence Chan]

Quote from Lawrence Chan:

Remember what wave and I said last week?

Wave - below 92 look for buy.

Me - they are accumulating.

today 92 - 93 shows some distribution taking place, thus there is a choice to go straight up or back down to 82.

=)

2 ticks from 82.

 

[chaykapwr]

Quote from chaykapwr:

add more at 92 and will add big final amount at 94-96.

Great trade. Took most off at 84