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Looking for shorts..


down to 1465 and 1456 this week...perhaps monday.....
I'm in short at 97.50 and 92 even for an average price of 94.25....what makes this interesting for me is that I am a day trader and will not be able to watch the market so it's a different mindset for me. I'm trying for 1480 first and then if real lucky will get targets mentioned above.....1502.50 and 1507.50 will take my money ( and I lose) if it goes there on Wednesday
Hello Bruce,

On ER I am short 807...did not go long..looking for shorts...holding till we get to 788/781 maybe down to 775-771 area. Of course this not going to happen in a straight line... but 788.2 was low...and then up today...so this area should be broken..to 781 area...from 807-788= 19 pts...so that real good..should happen by wed.thurs...maybe Friday.

I watch ES and trade ER...But on ES I had 2 areas for short 1503 and 1499.25...it hit bingo on that..ES low was 1468.50 and it should get to 1465 and my gravy guess is 1455 area...again wed/thurs...maybe friday

Good calls Bruce...Hope you got my emails..await your reply.
Hello All,

Well might I mention it came to pass...yes I got the 18 pts 807 short to 789... then I went short again at 795 this morning..Sept 6...I knew it woudl break 788.I had low of day 785-780 and high of day at 795-797. I cashed out at 788..my power stop.

But, to be honest I did not expect the pop up to 797 area...I left once I cashed out at 789..ran some errands...and came back at close to mkt close. As I expect a low forming day Sept 10 =/- 1 day...Sept 7, 10 or 11th.

But, as this pop up told me the movers/shakers were hitting all the short stops cashing the poker chips in to take it down. I have no position now but I would be looking for short...Since my Easy trade and pop up short has been accomplished...I may step back.

I am expecting at final blow off to downside to test 781/780 and maybe 777-774 area...they always blow off before they go up...imho.

On ES 1468 area and 1469 ( I don't follow ES...watch it to trade ER..confirming.... However, they should be a final blow off...tomm or Sept 10...who knows..nobody....but the final blow off should take us below 1468 to test 1465...and if if get to 1455 area...( Watch ER accordingly) look to get long...

Again...low forming sept 7/10 or 11...but blow will tell you all.....

Maybe I said too much.............

Good luck.

Boots
oops ...power stop at 789..

Boots
There you are!!!

Boots
Hey Bruce..where are you??
Congrats Pips....that was a fun and profitable ride down for both of us however the interesting thing for me was the change in my emotional state by not watching the market as a day trader....I'm in the middle of a relocation which seems to be endless..I have your emails...

I believe that it is more profitable to hold positions longer then day trading but I am not convinced that my personality can handle that. I like the idea of taking some contracts off and letting the "runners" do their work but I also believe that had I been actively following the market I would have pulled stops up too tight and would have been stopped out early. My other ongoing challenge is where to trail stops for these longer term holds.

Anyway there are some good threads going on " finding strengths" where this kind of stuff belongs.....seems like the first down push should be bought for a 1480 retest but we'll see..good trades

Bruce
Hello Bruce and all,

I await your reply to my emails and your got my number as well. Wanted to know about wolfe waves you mentioned. Better not to watch markets. Easier that way and then you know you are a real good trader.

I went short and long today. I has short at 780.20 overnight. My high range was 780-782.50 and low range was initally 772-768 but as we got to 773 so fast I revised it down to 763-759. I was initally expecting a down day for the whole session, but they way they got to 773 and the lower revisions so fast especially that 759 number I knew we had to go up then or I was wrong.

I got out my short at 760 ( I was going to pull trigger earlier...762..but just waited...not advisable...this time worked). Then I went long at 761 and saw it come back down to 759.10 but this scare move told me we were going up. Also we were at the key level and today Sept 10 was the low area imho.

I took out my long at 777.10..power stopped...

I did not go short as it went down..now long form 769.80. Lkg for 783-786 and gravy number is 793-805..maybe 810 by Friday Sept 14.

ES ( I don't trade, watch it) expect the numbers Bruce stated. Gravy numbers could be 1485-1495-1505...1464-1470 area should be hit.

Sept 13 is contract rollover...don't know how this going to impact.

Thanks also goes to daytrading for all his efforts.

Good trading all.

Boots

I think it's time to take a short with the cash index up at 1487,,,strange days these rollovers..I consider this high risk but dow shouldn't lead for long...
shorted 1520.25.....would like to hold runners for 1505 if real lucky...paired some off at 1515.50 and it seems like they may try and shake me out and run at highs...hope not......volatile stuff
Excellent trading pt and thanks for that great explanation Bruce!