ES 12-18-2008

Good morning to the USA, good evening in Asia. As of now, 45 min before RTH. It took a steep plunge to the pivot at 903, all in less than 10 min.

As a short term scalper. Lets see for the first 3 mins to confirm EMA3 is on top of EMA9, 3 green candles with bearish resistance with MACD pointing up. Target 4 points with SL at 3. Trailing stop change to 5 when price changes to 3.

Have a profitable day everyone.
,

sitting @ 894.50 for a long

94.5 is bottom of singles we had coming into today between 94.5-97. 93 is -50% IB extension

With the Fed making money free (0%)i.e. borrow 50 million and pay it back with another borrowed 50 million ad infintum, it won't cost you a dime, it seems volatility will leave the stock market and futures and head for the currency mkts with the dollar tanking. The euro today is going ape sh&*

quote:

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Originally posted by myptofvu

sitting @ 894.50 for a long

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no fill cancelled trying again 887:50 long

out 889:50

l @ 86

1 off 89 stop 87

Short from 896.00 x 2 added 2 more below out at 888.00 23 pts.

any word on what caused that 10 point drop?

GE downgrade

quote:

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Originally posted by BruceM

Thanks Vo that's what I had imagined ...so you can use price projection failures on the lower time frame to get you going in the direction of the larger time frame......

quote:

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Originally posted by VOwater

and yes bruce the bigger time frame projections do indeed carry more weight

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speaking of failures....*cough *cough

(im alluding to myself)

yes yes i need more confidence but poking fun at myself is better than seriously saying im a tool.