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ES 12-8-08


GM Traders

Daily PP: 856.25
Weekly PP: 861
Monthly PP: 881
POC: 829.75

R1: 895.75
R2: 918.75

60m: 933, 980.50
15m: 910, 914.50, 922
flat 4
It wasnt a smart trade but it worked I figure if I post my questionable trades I may embarrass myself enough to quit doing them.
covered all except two contracts at 904.25...last target is 901.25 or else the 08.50 will take me out...

YM did a perfect test of it's hour high there
quote:
Originally posted by BruceM

I have the shorts from 904.25 and 910.50....this is my next key zone.....and I'm obviously not enjoying this campaign

908.75 is 161.8 extension
selling 908.50-909.50
5 min avg is 902.25
unable to do a second breakout up of the ES hour high should be a concern for the longside...and of course that Volume
they have to see those stops below the 901 area..c'mon..go get em fellas
Fwiw. this cycle bottoms about 12:03 so we got a ways to go
902 is also 50% fib ext from 911.25-905
How true Kool..the way I look at is if the market only trends 30 % of the time ( and that's probably generous) then we need to make most of our money on counter trend trades unless you are the type who can take many losses and win on the trending 30 % of the time...I can't
quote:
Originally posted by koolblue

you know what i really love? A 300 point up day in the dow and most of us made most of our money SHORTING the market. FRIDAY TOO you know your doing something right when you can do that! Congrats to all.. c ya tomorrow!