S/R Emini Journal

[riaamaan]

Quote from sportmatt37:

I am relativly new to the wall street gig, so I was wondering when you guys expect volume/trading activity to pick back up to normal levels i.e when does wall street's vacation end???

btw - bear flag forming now

After Labor Day IMHO.

 

[romik]

Quote from 4re:

I am for a little longer there is some support around 1291.75. I am going to be done with my current trade at 92 so if it goes lower or not won't really matter to me.

solid call, I didn't even see that level.

 

[4re]

Quote from romik:

solid call, I didn't even see that level.

Man dude, I am so bad I can go to Burger King and order a Big Mac. And they'll get it for me. LOL...You know that call was all luck.

 

[romik]

Quote from 4re:

Man dude, I am so bad I can go to Burger King and order a Big Mac. And they'll get it for me. LOL...You know that call was all luck.

You were more lucky than me in that case, as I thought 1290 was achievable today.

Real fun will begin when we start on 2 WRBs (daily), though my gut tells me that we might stop at 20MA and continue upwards, anyway I just want to close that short for a scratch, if only I had me some calls, I'll do it next time. I don't really want to hedge via my short term account.

 

[4re]

Quote from romik:

You were more lucky than me in that case, as I thought 1290 was achievable today.

Real fun will begin when we start on 2 WRBs (daily), though my gut tells me that we might stop at 20MA and continue upwards, anyway I just want to close that short for a scratch, if only I had me some calls, I'll do it next time. I don't really want to hedge via my short term account.

No I wouldn't hedge the short term account either. What WRB's do we have on the daily?

 

[romik]

Quote from 4re:

No I wouldn't hedge the short term account either. What WRB's do we have on the daily?

First one 08/16 that was partially attacked today and the other one 08/15. I think we will see the top of the 2nd wrb shaved a little, doubt that 20MA will not provide enough support.

 

[4re]

Quote from romik:

First one 08/16 that was partially attacked today and the other one 08/15. I think we will see the top of the 2nd wrb shaved a little, doubt that 20MA will not provide enough support.

Ok, I wasn't sure if this method worked on the ones in the past or not. I thought it had to be the next bar or else you don't trade it. I'll be watching. I am with you as far as the 20 MA. I'll se if it falls close to a support level. That might stop it unless we get some bad news or something.

 

[romik]

Quote from 4re:

Ok, I wasn't sure if this method worked on the ones in the past or not. I thought it had to be the next bar or else you don't trade it. I'll be watching. I am with you as far as the 20 MA. I'll se if it falls close to a support level. That might stop it unless we get some bad news or something.

I don't trade WRBs on daily, this is just to gauge S/R levels of price.

 

[4re]

Quote from romik:

I don't trade WRBs on daily, this is just to gauge S/R levels of price.

OK, now I am with you. In that case you are right I would like us to attack those candles and take it down more. I have a lot of puts out there right now. But I have until October to bank on them.

What is your average on your short position? I think it is in the 1280 range isn't it?

 

[4re]

Before I do my charting for tomorrows S/R numbers. I want to show you guys this Q's chart. It is getting interesting. Looks like it should pop up out of this flag but it sure is taking its time. I am going to look at the S&P chart and see how it compares.