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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
next 'significant' cycle peak (basis 5 min chart) is around 2:05- 2:15
stone wall @ 901
downside not looking too bad all of a sudden!
stop limit order 900.75 short only a 1.5 stop
its all the dam avg's VO!
902 has become a price magnet. If price moves +2 or -2 it ends back up at 902
What time bar did you look at mypt I snapped it on the 12:29 bar still figurring it out
WOW, NOW LOOKING AT 894.75 ISH
JUST COVERED MY LONG FROM 898.75 AT 899.75 PLUS ONE NOW UP 30.25 AND THINKING OF SELLING
96.25 breaks GAME ON!
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!