Sell ES 931 Objective 780

Quote from Ivanovich:

I'm not normally a follower of the conspiracy crowd, but this is getting silly.
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Ivan, today you are the Leader of the conspiracy crowd! nice call!

:D
 
a 15 handle hit will not bother hin he says........................well from 931 .00 short up to 960.00 STOP is a bit wider than 15 . :D

OHH, i see it was 15 k, my mistake. Still a 15k possible loss for that amount of profit still has issues. :)
 
Quote from TheBestGuruEver:
I am just seeing what it's like being accountable to others instead of yourself. Why now? Patience. I wanted to do this about 2 weeks ago when we had all those "divergences" but I've learned that patience is key and the high is never in when you think it is. So I waited and when I saw the ES +10 last night I knew I would sell weakness at some point.
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If you really wanted to lay the lumber today following last night's swiss cheese rally, a much better idea was shorting in the low 950s to high 940s. Any self-annointed "guru" worth their salt would have been selling those stone-cold obvious breaks up there.
 
Is this it? Is this all the reason you have for making this trade?
What fundamental or technical reasons of substance do you have for thinking the market is going to reverse trend right here right now?


Quote from TheBestGuruEver:

I am just seeing what it's like being accountable to others instead of yourself.

no other usernames, sorry.

I usually put on "big" positions a few times a quarter.

Why now? Patience. I wanted to do this about 2 weeks ago when we had all those "divergences" but I've learned that patience is key and the high is never in when you think it is. So I waited and when I saw the ES +10 last night I knew I would sell weakness at some point.

I really trade based on time indicators, distribution calculations, and 14 years of experience.

Am I the best trader? No, I made my money elsewhere.

Was my 401k and trading account up last year? Yes. Was it up a lot? No.

I'll give many more details if this trade works. If not, then i FAIL and i'll go away.
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******Austin P*******

Dear ####, aka BestGuruEver,

ET has become the ultimate cesspool of failed wannabe traders and losers. It's not really possible for me to care any less about what viewers in there say = feel = do.

Congrats on your $40k recent performance. Please link me to your post in ET's P&L 2009 thread showing that blotter. It'd be my honor to gaze upon your performance there.

Best Trading Wishes
AustinP
 
Swiss cheese rally? Interesting term. Could you possibly explain what it is, austinp?

Thanks.

Quote from austinp:

If you really wanted to lay the lumber today following last night's swiss cheese rally, a much better idea was shorting in the low 950s to high 940s. Any self-annointed "guru" worth their salt would have been selling those stone-cold obvious breaks up there.
More...
 
Quote from pcvix:
Swiss cheese rally? Interesting term. Could you possibly explain what it is, austinp?
Thanks.
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That's a slang description for markets going up on thin air... no volume, overnight gaps, final minute program spikes, etc.

The overnight rally to critical resistance left holes below it akin to "swiss cheese" support. If they found a reason to keep on pushing higher, it'd be a gap & hold event. Instead, selling pressure hit those supportless holes like a knife thru "swiss cheese". Hence the straight down crush early on.
 
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