S/R Emini Journal

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Quote from 4re:

I am now short at 1324.75. I might have to be patient on this one though. It is so choppy today.
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From my breif analysis the last two days on an options exp week tend to be narrow range doji type days if the begining of the week was largely up. so dont expect thursday and friday to give up much of the gains for the week.
 
Quote from romik:

I am routing for you G, have a look at this one though.
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Well thanks, but all the rooting could not help me on this one I am out with 2 point loss.
 
Right... 10 bucks a tick. It pays out twice as much as ES, but moves real fast. It took me a while to get used to that movement, but it's slowly coming together. And, those were price channels on that chart, not BB...though, they seem to work in much the same fashion for me.
 
Quote from BoyBrutus:

From my breif analysis the last two days on an options exp week tend to be narrow range doji type days if the begining of the week was largely up. so dont expect thursday and friday to give up much of the gains for the week.
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You are right on this and it looks like they are going to try and hold it up here as much as possible.
 
Quote from 4re:

Well thanks, but all the rooting could not help me on this one I am out with 2 point loss.
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let's wait for this hour's close to provide some indication of where this thing might be heading. If it closes positive, I'll consider going long, as there seems to be more room to the upside right now. I do have a feeling that price will reverse to the upside any time now.

You doing any more trading today or do you have to leave?
 
Quote from romik:

let's wait for this hour's close to provide some indication of where this thing might be heading. If it closes positive, I'll consider going long, as there seems to be more room to the upside right now. I do have a feeling that price will reverse to the upside any time now.

You doing any more trading today or do you have to leave?
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I might be able to do another trade if I see a good flag or pennant formation I will take it.

As it stands right now this could be my first down week since starting this journal. I can make it back up if I get one full position trade for 1 point. So I am not down very bad. No revenge trading though, you guys help keep me honest.
 
Just to let you guys know, yesterday I sold all my Sept 39 and 40 calls. I missed the top by 2 cents. Took about a 40% profit on them. Today I just bought some Dec 42 calls as insurance. Still holding my Oct 39 and 37 puts. I am pyramiding these positions on the up and downside so that either way we get a big move I can profit from it.
 

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It's usually a losing battle to fight the direction of the naz.

The market has 2 things going for it this morning.

1) The naz is outperforming to the upside

2) ticks are bouncing off the zero line. most negative tick reading has been in the -500 area while most positive tick reading has been in the +1000 area.

Things could change, but there seems to be a willingness to buy rather than sell by the institutions
 
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