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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
Great market read Bruce.
thanks Prestwick but a more patient trader would have waited for that plus 8-10 after they ran out the overnight folks....that's a classic move in the first hour
pulled some at 896..trying for 889 and then 881 for final contract but will most likely get stopped out by then
if 95.25 is taken out I think we get a Kool downside projection of 875.5. If it holds I THINK we get an upside to 922.75. (all based on last two cycles)
Just woke up! Please tell me you guys went short at my 905-6 number!
and down proj was 896.25, i see
ill be long on the first good pullback
buying 898.25
biggest volume today is coming in off the 901 area..somebody watching it
we gotta watch that....easy for them to overshoot especially in the first 1/2 hour of trading......now is when it will help us I hope
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!