Whats your opinion tomorrow morning on the /ES

[Palindrome]

I think the momentum on Friday will carry farther than we think. There are a couple longs im trying to fill...but they are a good distance on the downside...could take a couple weeks to fill them. I think though we might be surprised by this move, in how far it might move. Once the momentum slows then I will see about longs.

I'm still very long my energy plays and might hold them for years regardless of the near term pain. Once a position is so far from where you entered, I like to keep that position on...play with the house money.

Fortunately I've been shorting about 7 garbage stocks over the past 3 weeks waiting for a down draft. I hate shorting though, its unamerican, but I just had to.

I don't plan on covering for a while.

 

[vanzandt]

I hate shorting though, its unamerican,

Making money is not unamerican.

But if you are feeling especially patriotic...(and you can mark this post)... buy stock in Ford.

They will lead the autonomous car industry. Write it down,..... park the money,.... and thank me 20 years from now.

 

[comagnum]

Why does everyone trade the ES anyway?
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Finaly - someone that thinks outside of the herd which is all huddled into the choppiest - sideways market of all time with pricey execution costs, slow momentum, dominated by predatory HFT - it is not a break out market anyway - so why trade it? Institutions have to - but the retail crowd can skip this lethargic contract.

 

[Palindrome]

I think stocks are much easier to trade compared to ES. ES is boring and filled with noise if that makes any sense. Individual stocks are much more interesting.

I'm with you buddy!

 

[thaitye]

Yeah, you need to seriously rethink your...Thinking patterns. http://www.cmegroup.com/trading/wea...-weather-heating_contract_specifications.html

The /ES is the barometer of the market. When most people speak of 'The market' they aren't talking about cattle. I think it's quite obvious that the /ES is the most influential of any futures contract being traded.

You're trying to be a smart ass here.

 

[turco_directo]

I don't why anyone really wants to trade anything other than /ES or /CL futures. I have tried some weird ones in the past but usually got burned at the end

 

[lawrence-lugar]

Whats your opinion tomorrow morning on the /ES

Hey guys,
I wanted to ask what you thought about the rollover Friday, and what you think will happen Monday.

Don't ask the Opinion of others...that's like asking them what's the weather,

Develop your own hypothesis and understanding of the market, and/or whatever you trade.
The more you consult others, the more your performance will be all over the place

 

[Palindrome]

Great Point Lawrence... I learned a couple years ago to never take "TIPS" from anyone. I took that piece from Livermore. You really need to make up your own mind in Trading.

All I can say is the markets are very deceptive... this move today was a deception to the Bears, shaking out the weak bear hands... the stronger bears are building their positions. And that is how I am positioned.

People ask me for advice often, I just tell them what I am doing, I never advise them to do anything. "All I can say, I'm long XYZ blah blah blah"

 

[FreakofNature]

No opinion, will trade what I see after one side gets faked.

Well the bears got faked, and badly, that was the catalyst, the rest was a short squeeze from hell, no bias OP, trade what you see, but demand a side getting trapped and price acting well

 

[Palindrome]

Yea...That was a hell of a squeeze. Looks like it has some follow through to the upside. Bears are in a bit of pain. I covered a little of my short position for gains. Still have most of it on though.