ES 11-14-08

15m: 935, 945 and 866.50, 836.50

will be away most the day

Just for fun i had 893 or so as the upside so i just sold one at 893.25 and covered on the first real hesitation of 30 seconds or so at 890.50 for another 2.5 handles in the bank. Should i have held for the next objective at 879/ maybe but ill be crying all the way to the bank... with their money! up 12.5 and done ...C YA MON !

I used to have the 'strength' some of you have going for the 10-30 handle trades , and i used to do it with 10 lots of the big s&p contract. My nerves just couldnt take it. Hey, i applaud those of you who can! I wish i still could! id be flat out rich! Cause now i avg one losing session every 30 or so... but i just cant.

Look the 866 showed up. Had a bad day, all my projections were spot on and my entries were horrible. Everyone have a great weekend. Thanks for so many lessons.

32 Pts on a crazy day.

Jack, great job.

You know this is actually a good thing! the further down it goes the more chance of the bottom is in (for a while at least) and the more chance of a recovery starting Mon! Dont forget ,the daily charts forecast a low today, even tho it appears the 45 day cycle may have bottomed yesterday... have a good weekend all! (Margie, itll come ,girl, i have no doubt! hang in there!)

Kool I can't begin to thankyou for your sharing, your time and your philosophy of sharing. Thanks.. Jack...

kudos, on your trading,my friend.... FWIW hourly is now calling for 789-795 depending on which bar we use! So we better take out 904 MON or else!... see ya!

Hey Red. Unfortunately, that is not a Cup & Handle. They are continuation patterns that usually form in uptrends or bullish trends. The "handle" has retraced too deep. You would like to see it stay in the upper 1/2 or about where your moving averages are. Also, you want volume to start to dry up on the retrace (handle) and you can see that volume actually increased. It does have a nice bowl or cup shape though, but is not the classic pattern "Cup & Handle." Go here to see the pattern @ http://www.investopedia.com/terms/c/cupandhandle.asp

quote:

---

Originally posted by redsixspeed

Click image for original size

---

My thought process with this chart was with a break
@ 868.00 we might go to the 829.00 area. That was hit
this morning @ 6:40est