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ES 12-31-08


GM Traders

Daily PP: 882
R1: 895.25
POC: 879.50

globex gaps: 893.75, 891.25
ON DEC 29, THE DAILY CHART, we had a high of 873.50 and a low of 853.25.. that projects 906.25. i think we still have an outstanding hourly proj to 901 and a recent 15 min somewhere around 902.75, so 901-906 seems a likely target.All of which totally surprises me, but thats the way holidays usually are! extremes in one direction or another ,quickly corrected after the 'boyz' all return!
Choppier the better myptofvu
Up 5.25 will call it a day.
For all the new traders, develop a plan and practice it like a religion, come what may, the market spun me around yesterday but I had faith and by evening all was good. Market takes and gives back but on the same day only. Cheers to 2008!!!!!!!!!!!!!!
VO - that bond move has been incredible. I thought of joining you by doing a TLT SS but I held off figuring I was trading against the Fed and they don't seem to have a budget they have to live with. The way I interpret it, they have basically said they want mortgage rates as low as 3% and I don't have the kind of staying power needed to outwait the time it will take for foreigners to stop buying US debt.
was looking at the same 15 min projection and I am now flat. +3
900 is +50% IB extension
pwd what does IB stand for?
bigs +15500 now
added @ 99 avg 97
happy new year everyone