These people who are shorting ES tonight ...

last week, and with INTEL coming out with their "mid-quarter" update this week, I would imagine that most traders and fund managers are taking a "wait and see" attitude until INTEL reports this update . . . In otherwords, who's going to be a hero and "bid" for stock in technology before this report?

Not me.
 
alterego,

Give me a break, ok? I realize the market can and will do anything it wants and anyone who makes a prediction that proves to become true had a 50/50 shot to begin with.

There are entirely too many "on edge" people in here that take life much too seriously.

aphie
 
Originally posted by aphexcoil
Are really going to feel it in the morning -- who in their right mind would be shorting this close to the 900 level?

aphie
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I don't believe in crystal balls, but if someone had a gun to my head and said I had to pick long or short over the next few weeks I would not hesitate to say short. Look the charts.

Brandon
 
Actually the es looks like a great short to me on the daily chart, we've broken the uptrend since the july lows and this week's sideways movement allows for a nice entry.

Doesn't look like 900 means much at all -- 850 is looking very possible. About time ES plays catch-up with the nasdaq.
 
Dojibear
An observation, if I may.
Aphexcoil seems desperate not to be thought of as a newbie (witness 100+ posts in 2 weeks).
I would suggest he gets what he deserves--starting a completely irrelevent (admittedly, my view only. Others may disagree) thread, and throwing blanket statements out there.
Mind you, I guess I should show him a little respect---he is a senior member after all.
 
I must have been dreaming, didn't we break 900 already, :confused: thats what i thought... don't sweat the details just trade what your charts and your gut tell is you is right.
 
Originally posted by aphexcoil
I am not playing this future's game yet -- I'm just stating an obvious fact. Wait till everyone gets back from the beach and we all realize no terrorist actions took place. Things like this should be a given (that the market sold off before a long holiday weekend), but some people just don't get it.

aphie
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maybe you'd better wait a bit longer before you play "this future's game". lol
 
Originally posted by alterego
Japan is at an 18 year low.
Europe was down 2.5% today.
Those who "shorted" the S&P last evening are laughing all the way to the bank.
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Ha ha ha....

I know, it's too early to be counting my eggs, but I couldn't resist! :D
 
Well, thank god I'm still trading in a simulated account. :)

Actually, this morning I checked the world markets and realized that there is more to trading futures than just guessing.

Here is a true story about discipline.

This morning, I got a signal from my system to short ES -- which I did at 898.75. The market then began a climb upwards towards 902 and slightly past. My system has a stop loss of 5 points. My emotions told me "Hey, maybe this is bottom, lets close this out now before it gets any worse" and then a little man on my shoulder said, "Stick to your system, kid!"

So I stuck to my system and then the market quickly reversed, where I covered at 894.00.

Just thought I'd share that little story of discipline with the rest of you.

*ALWAYS STICK TO YOUR SYSTEM*

aphie
 
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