S/R Emini Journal
- Thread starter 4re
- Start date
- Status
Well today I guess we all pretty much got us a trade that worked. I just got lucky on mine. I had just got back from taking my son to school when the market started taking off. I had my dome up and everything ready to fire when it took off. In and out in about 2 minutes. You gotta love those, thank you news...Here are my numbers for tomorrow.
Long 1300.50 - 1304.25
Safer Long 1304.75 - 1311.00
Short 1291.25 - 1287.00 also a gap play
There is an earlier support at 1293.50 but it didn't give 2 points of movement so I had to drop to the next one.
Good Luck tomorrow,
Gary
Long 1300.50 - 1304.25
Safer Long 1304.75 - 1311.00
Short 1291.25 - 1287.00 also a gap play
There is an earlier support at 1293.50 but it didn't give 2 points of movement so I had to drop to the next one.
Good Luck tomorrow,
Gary
After pissing in the wind from the short side today, I remain bearish and am short at 1298 at the moment, I will remain bearish till we fill the gaps underneath. 1280 cash by friday is my target.
Something to consider...
If we go up again tomorrow, there are probably some stops above the daily range that could fire off and provide an additional upward burst.
The markets are about taking away the most amount of money from the most amount of people in the least amount of time...and no better mechanism exists. Be careful my "short" friends. If you anticipate, then anticipate the most devious thing that could happen, because the obvious is not necessarily the most likely.
Anything can happen.
My 2 cents. Respect to all.
Rick
If we go up again tomorrow, there are probably some stops above the daily range that could fire off and provide an additional upward burst.
The markets are about taking away the most amount of money from the most amount of people in the least amount of time...and no better mechanism exists. Be careful my "short" friends. If you anticipate, then anticipate the most devious thing that could happen, because the obvious is not necessarily the most likely.
Anything can happen.
My 2 cents. Respect to all.
Rick
Hey fellas,
Coming from the midnight lounge, I see two potential scenarios:
1. As Rick described, the market shoots up to R1 at 1304, squeezing the bejezus out of any overnight Shorts in the market, forcing them to cover, and then turning around and dropping back to the 1295-1290 area as the Longs take their 30+ points of profit; or
2. The Longs take their 25+ points of profit at the Open, moving the market down to the 1295-1290 area, at which point the Shorts, streaming with sweat and groogy from not having gotten a wink of sleep, start to cover, the market finds support and moves back up to about 1295.
Just two potential scenarios, we'll see how it plays out
.Best Regards,
JJ
P.S. In a defined Uptrend, and with no selling criteria being met, never short a Bull Market. For the record, I profited on Tue., and was looking for some kinda pullback yesterday, but I didn't dare short it, so I just sat it out.
Best all.
Yes we could go higher but I will be there to short it. OE still says we fall from here as the big boys are done moving the market and establishing finals positons til after expiration. I am on my 3 rd short trade already from 1298 area , not much to brag about, a point here, 1.5 there. Still waiting for the break and treading water.
- Status