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ES 8-22-08

Greener pastures? Maybe. I'm putting on the Ritz today and calling not only there not being a gap fill, at least in the morning session, but that we'll test and win 81.75 and see a high of at least 1285.75, and it'll be met at 12:45 PM.

A gap fill into the close seems likely in a certain weekend sell-off investors still learly and day traders principled.

Trading in Sunday's session in all probability will try to retrace to the upside starting the B wave and the opening range Monday will be decided from the bell selling was unfinished after letting bulls clean up bit; after which, a test and loss to this morning's low of 72 will jump start bulls to begin the bonafide third wave of the first impusle wherein 3 premium prices en route to correcting 1441 will ensue.

By Tuesday's afternoon session I expect to see prices near if not at the run's high. Third waves are fashioned by everyone already having shorted, short-covered, scalped, made their money driving prices to value and calling brothers to tell friends to call their brothers and friends to buy. It'll be on. Show up, and make some money.

{DISCLAIMER: None of The Above May Be True But May Be Permitted And Possible}


Good trading, all.

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long 2 at 88....sigh...3 point stop chasing badly today
We're in another damn triangle, and, there's still no clear sign the swing's a bull, or a bear controlled ABC poised to keep the abyss company. I don't suspect a breakout to the upside either. The slam before lunch was price rejection at the second to the last leg of the bear swing, and this chop, is the chop beneathe that corner. Buyers will eventually just give up and then the shoe'll drop.

I covered at 89.25 for 15.25 handles. Now watch it takes out the high.

covering one
bailed the other at 90.50
raised my scalp stop way to quick!
could it be we close at that 1290.50 magnet?