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ES 10-08-08


I cant wait to see how the talking heads explain tonites action!
I am going out on a limb and saying I think this is a short term low, being the 8th and Yom Kippur and 977 just a few min ago.
Sold 1/2 those calls for +1.20
+.95 on the rest.
Trying some long at 996 for a bounce off of sq nine 993.
Now that I've gotten used to this volatility were am I gonna find a market like it once this settles down?
I trade more contracts when it slows, less when its moving like it is.
Having trouble at 1009 Sq nine. Exited at 1007 +11 on that one.
Not that I plan to trade this, but I want to see if I understand CharterJoe's method correctly. 1009 is a sq nine AND a prime, so with overbought stochastics, would this be a good short and if so, do you play it be ear in terms of exit?
quote:
Originally posted by CharterJoe

Having trouble at 1009 Sq nine. Exited at 1007 +11 on that one.



I'm curious about your sq nines. I sometimes see S/R that I cant explain I wonder if your sq 9 explains it. Was there a sq 9 at 1014.50 @ 8:26 this morning by chance?

Nice trade btw.
quote:
Originally posted by culsu

Not that I plan to trade this, but I want to see if I understand CharterJoe's method correctly. 1009 is a sq nine AND a prime, so with overbought stochastics, would this be a good short and if so, do you play it be ear in terms of exit?




That is correct. But I wouldn't take here is why; the 30 min chart is moving out of its downtrend so its a higher risk trade so don't expect much. And I don't watch stochastics, I just watch the RSI. The best time to trade the 1009 would have been at 13:20 being the first time it hit 1009 in a while, 2) the RSI was overbought and a neg divergence, and 3) highest $tick reading all day. All other 1009 would have been scratched. Until 1009 hasn't been touched in a while
I love Pivots...daily, weekly, monthly, I love it even better when there's a sq of nine near by.

As to your 2nd question it really doesn't matter why .146 (its phi to the 4th power) and .25 (1/4 or 2/8ths) but it all has to do with sq of nine....from each of my sq of nine numbers is sq root + or - .25 and then squared reason being that has to do with squaring a circle. All that matters is that it works.....146 used to work beautifully but now it moves that much in 2 min, so I don't use that any more once the markets calm down it will be useful once again.