S/R Emini Journal

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Quote from volente_00:

You have to understand where he is coming from. He only edited the song to get radio play.
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i understand, but still, do you see my point about disrespect?

anyhow, i really think the disrespect most demeans the person doing the disrespecting...i.e., he is most truly hurting himself.

shake your *ss, but watch yourself
shake your *ss, show me what ya workin with

okay, so that becomes
shake it fast, but watch yourself, etc.

that's an edit for radio play that i could have done without b/c the profane version is truer and really demeans no one. he's simply admiring her anatomy....but the other is an angry, hate-filled spew. F U is an angry sentiment. see my point?
 
Quote from princessa:

i understand, but still, do you see my point about disrespect?

anyhow, i really think the disrespect most demeans the person doing the disrespecting...i.e., he is most truly hurting himself.

shake your *ss, but watch yourself
shake your *ss, show me what ya workin with

okay, so that becomes
shake it fast, but watch yourself, etc.

that's an edit for radio play that i could have done without b/c the profane version is truer and really demeans no one. he's simply admiring her anatomy....but the other is an angry, hate-filled spew. F U is an angry sentiment. see my point?
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No,


Have you ever had a male use you in an instrumental way to get what he wanted ?



That is all jay z is saying, except vice versa perhaps he is blunt about it but it is what it is.
 
Quote from volente_00:

No,


Have you ever had a male use you in an instrumental way to get what he wanted ?



That is all jay z is saying, except vice versa perhaps he is blunt about it but it is what it is.
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males do that all the time, not to me, but still....

no one is innocent, vo.

i think we can just agree to disagree on the issue, but i know i'm right....:D

'nite all. it's my sleepytime....
 
Quote from princessa:

males do that all the time, not to me, but still....

no one is innocent, vo.

i think we can just agree to disagree on the issue, but i know i'm right....:D

'nite all. it's my sleepytime....
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Picture yourself being a young black male who went from nothing to a net worth of 320 million. Put yourself in his shoes if you truly want to understand the message.
 
Quote from romik:

You keep asking whether this is safe and/or that is a safe pattern. The only safe thing is your stop, that should be your 100% guarantee not to lose more than you can afford. "Engrave" it in your mind, prior to starting to trade real money. Do you think it was easy to let go of 4 contracts @ $4k+ loss, nope it wasn't, I am not a super trader, I am not even a great trader, so how can I tell you whether this was a safe play? I can not. I hope you undersatnd where I am coming from.

But, to answer your question partially I can say the following, I simply saw a possibility of it happening and happened to be right.

Here are some clues:

1. ES was trading at the top of the channel (yellow line);
2. An indication of possible target upon a pullback was determined by the channel's support horizontal (blue line) and of course 20MA (orange line), the furthest target would have been ~1296 range, wider channel's support horizontal (green line);
4. ES did not quite breakout of the triangle that we have been seeing previously (Volente pointed it out I believe);
5. We still have a bearish divergence (main reason for my short position at the time) in MACD's histogram (yellow line horizontal over MACD has been declining, price has been climbing resulting in the divergence;
6. Double top in CCI (almost) and a recent bearish divergence as well from mid August;
7. 1316.50 created a double (treble) top;
8. Whenever a majority of posters are bullish, the opposite has a tendency of taking place;
9. Gut feeling :)

What's more interesting is the outcome of yet another consolidation frame, from the looks of things between the Green and the Yellow horizontals.

Hope that clears it up a little.
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Thanks for the detailed reply. For #4 which triangle are you talking about. Between the yellow and green lines? (I thought triangles had to have a horizontal line at 180%.)
 
Quote from volente_00:

Looks good in theory, but what do you use to determine if it will fail or hold ? Such as the multiple failures before we broke the triangle. Also when using S and R for ES, you have to take into account premium erosion over time. This is why I use cash levels or spy.
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I would disagree...although I may be wrong. Futures are futures...cash market is cash market. I think that trading off just the s/r levels for the current contract works just fine. If you are attempting index arb (which none of us would be anyways) the premium levels would be of concern to us. Otherwise the only reason I can see that anyone trading s/r numbers would be interested in the premium is to see if there may be a buy or sell program triggered at or near the price where you are expecting breakout...it could give an indication as to whether we would get some follow through in the right direction.
 
Quote from YMZ:

I would disagree...although I may be wrong. Futures are futures...cash market is cash market. I think that trading off just the s/r levels for the current contract works just fine. If you are attempting index arb (which none of us would be anyways) the premium levels would be of concern to us. Otherwise the only reason I can see that anyone trading s/r numbers would be interested in the premium is to see if there may be a buy or sell program triggered at or near the price where you are expecting breakout...it could give an indication as to whether we would get some follow through in the right direction.
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So you think the SR levels on futures do not change as premium erodes ?
Futures may lead but cash is king.
 
Quote from TGM:

Well, I will try. The ES had an order protocol ever since it was first introduced (naz as well). You could only do an order for 20 contracts at a time. Many of us got beyond irritated. They kept appeasing the floor. They finally expanded to 50. Then I believe in 2001 they went to 250 and on and on. I do not know exactly what it is now (1500???) But they tripled it from the last time (not long ago). Advantages of the CME being public. The floor no longer fools with the rules.

All this Bullshit kept the floor 'artificially' alive for longer than otherwise. So it created alot of nonsense between the screen and floor etc etc and I do not have time to go into all the nitty gritty. But it is alot better. Would even better if they took up to 3k or 5k protocol. I do not know if they will ever let take it to all you can eat ---like 10k on the offer for Goldman etc. Now they have to break it up. But knowing large traders can go deeper into the deck quicker ---allows fewer games. Before you could pull orders knowing that only xx many traders where going to be able to hit 400 , 400, 400 ---when you start being able to hit over 1k at a clip keeps people very honest. You put that stuff up there. Someone may grab it.

Most traders do not know anything about the spoo and it's protocols but it was a racket. I have seen too much since they introduced it. Many of us moved to the ER2 a few years back and left the ES for occasional trading or position trading. Since the last protocol lift. Me and several other traders I know came back to the ES when we "felt" difference.
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Good information there. I can confirm the current limit is 1500.

Cheers.
 
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