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ES 9-30-08


I just covered all of these in the overnight at 1253.50...I'll consider this a "gift" and a failed campaign because of the high risk and overnight exposure.......thanks again for the support and encouragement......

one thing that many aspiring traders don't always factor in is TIME.......OUR personal time...

I've got two kids and one on the way.....it's 4:21 in the morning on the east coast and I am UP managing this trade......I'm 47 years old and I need to sleep..lol..........While I'm happy to exit the trade it's just not worth the wear and tear on ones personal life at times....

You folks with the options had the right idea.....

quote:
Originally posted by BruceM

I went in at 27.25...three.....avergae price on this campaign is 1148...whew...that's a mess...targeting 62.50.....but when...?

small ledge at 43.50 too.....
re Bruce:

the set up was from using Kool's cycle method on a barchart set to increment by volume instead of time,,,, took the count from the last trend up and tacked it onto the reversal to get a projection for the bottom of the move down..
Using what I think is Kool's cycle projection technique, based on the last two cycles I think the system calls for 69.5-70.25 or the 26 - 27 area ??? FWIW, big $ has been accumulating all during today's pit session while small $ has been distributing.
thanks POP and Prestwick.......sure wish we had some better volume on this lunchtime high test.......I'm still partial to shorts but hope I'm wrong
we have dug almost entirely into singles between 57.0 and 62.75
very light volume considering how late in the day it is, feeling uncertain up here, i want to short but can't tell if this thing wants to run to 67/68 first... any opinions?
quote:
Originally posted by popstocks

very light volume considering how late in the day it is, feeling uncertain up here, i want to short but can't tell if this thing wants to run to 67/68 first... any opinions?



looks like the chart had the answer :)
Over $3 profit on those calls...I'll be buying some puts around the close if markets don't sell off before hand.
66.5 was 100% IB extension
I am still holding those nov calls I think the market is going to get a couple week rise results via monthly profile and weekly charts.
Kel, answer is on the Pops video thread.(ps; remember not necessarily THE downside of any given cycle or movement but a possible support point where a bounce of some kind might be expected)