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ES-09-22-08


So far, still well under fair value. Ugly opening. long one from 1245.00
Covered @ 28 on remaining contracts, +20.25 points on those. Done for the day got to go, good trading to all...
Congrats Joe re your new child and for the great trades this AM. Great call Kool on the trip to 29. Big money held out to the break of 32.5 so that should offer some resistance
still no 5 min. buy signal, getting nervous but holding with a 3 point stop....
sorry about the double post. 50% IB extension is 23.25
man, i could get killed here , but all my charts up to 30 min. are oversold so some where between here and the globex low should be a tradable bottom(i hope!)
prestwick...when you say IB, are you referring to the first 60 minutes of trading?
Thanks
Karen - that's right. Trading during the first 60 minutes after the pit opens generate the initial balance. When trading breaks the upper or lower range of that balance the market tends to extend. Market profile folks watch especially for 50% and 100% estensions which tend to act like magnets. Nothing is certain but working with probabilities can help.
Thanks so much prestwick. Appreciate your info.
Also, 23.5 is the Globes low so like Kool said, that 23.25 - 23.5 area could be a good tradable bottom if we get there.
wow, one tick from being stopped out! the boyz are showing some mercy(so far)
Kool,
Thanks for everything. I guess it was a good day for me to have computer problems. Had to keep rebooting. So like you said, "Tomorrows another day".