The Surf Report
- Thread starter marketsurfer
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On the ES "Daily" if you draw a trend line from the LOD on 9/30 through the LOD on 10/24 you will see the current price action is playing just below this line. I have been looking for a failure of this trend line (took place on 11/17) and for the price action to drop and challenge the 1029.75 level. So far for the ES we have had several days that held the 1031 area as support. I am looking for the ES to return to this price area and break through the 1029.75 level for a minimum drop to the lower 1020's area. I am looking for this to play out within the next 7 trading days.
Chris
Taodr - I still have some of my position from the 1059 to 1062.75 area where I initiated this trade (11/13 and 11/14), mainly to maintain a decent cost basis when doing ADD's off any bounces from the main area where I initially covered a large portion of my position trade (1031). I will cover and complete this position trade when we break the 1029.75 area with a good drop or when we start to push at the 1060 area.
Chris
Taodr - I still have some of my position from the 1059 to 1062.75 area where I initiated this trade (11/13 and 11/14), mainly to maintain a decent cost basis when doing ADD's off any bounces from the main area where I initially covered a large portion of my position trade (1031). I will cover and complete this position trade when we break the 1029.75 area with a good drop or when we start to push at the 1060 area.
I know I'm gonna sound like a spoilsport now, but I'm playing with my "old rules" again, and they say go where the volume is.
Currently, there is massive volume on the ask, waiting to be turned into shark food, so I'll just keep firing at the ask, taking bits out as oversold levels get reached and scaling back in as retracements reach bottoms. Time for another 10+ point day.
Relative ask volume is getting huge now, so I'm aiming for 56+ ... Sorry folks ... :eek:
-S
Magna
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This thread is about marketsurfer's trading journal, so let's please restrict comments to discussing his trades, his style, his strategies, etc. If you would like to post personal trades then please start your own journal. And if you have comments directed to anyone except marketsurfer then please send that person a private message. Thanks.
hi,
the decision has been made to close the DJIA shorts at this time. we are currently flat the dow. 9727--9803 is our current trading channel. long above, short below and flat in the middle. still short BBI.
taking losses is never easy, but its part of this game.
best,
surfer
the decision has been made to close the DJIA shorts at this time. we are currently flat the dow. 9727--9803 is our current trading channel. long above, short below and flat in the middle. still short BBI.
taking losses is never easy, but its part of this game.
best,
surfer
My full admiration and congrats to your courage, patience and discipline. It sure was a tough short!Quote from marketsurfer:
hi,
the decision has been made to close the DJIA shorts at this time. we are currently flat the dow. 9727--9803 is our current trading channel. long above, short below and flat in the middle. still short BBI.
taking losses is never easy, but its part of this game.
best,
surfer
Best of Fortunes in the Future!
-S
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