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ES 12-29-08


GM Traders

Daily PP: 867.75
Weekly PP: 871
POC: 867.50

60m: 877.50, 905 / 849.75

globex gaps: 862.75, 861.75, 861.50
see EINSTEIN, I SOLD YOUR 'DOUBLE BOTTOM' EVEN THO WERE EXTREMLY OVER SOLD COVERING NOW!
KOOL please see my 12:45 post (no rush tho)
OUT AT 853.50, PLUS 3.5 O/N 2 ES! UP 7 O/N THE DAY!
failed patterns are often good. could u explain how and why u entered? based on 1 min chart?
nice trade!
nice trade kool
OH , I SEE WHAT YOU MEAN, ENSTEIN. Not always, many times i enter a trade after the projection has been met cause im expecting a bounce and the look at projections to see how long to hold it! As i said before its a matter of perspective... you have to determine how long term of a trader you are !
thank you
GETTING BACK TO THAT TRADE, NO TECHNICAL ANALYST WOULD HAVE TAKEN THAT TRADE! we were simply too oversold! but when 857.25 projection was exceeded i knew something'bigger ' might be occurring(i e: a lower projection on a larger time frame)
truth be told ,my exit was actually a lucky one , just jumped out at the stall there as i still expect lower prices in time...
just noticed it is up 6.66%! evil number