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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
A bit impulsive perhaps ,but cycles are on my side for at least a bit anyway.
covered 898.50, plus 3 on each, now up 22.25 and buying 2 @ 896.50
the low is lurking some where between 12:04-7?
l@899.75 due to hammer candle

1 min chart
l @ 900
You know one call i totally flubbed was the call for a decline to 863 last nite! never got past 867.50.. while some would be happy with that ,im not usually off that much.. im still not sure what happened there!
1 off @ 1.50
well now the cycles take over ..just for a bit
flat 90.75...its all yours mypto
whats next? back to the 5 min boll avg at 904.50? if so ill sell it ..if not my order to buy 896.50 stands
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!