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ES 1-5-2009


Watching the 910 area this morning...

VAL 910.25

910.50 is the 61.8% retrace level of Friday's up trend.

Below 910 we have the 904 level:

Weekly Pivot Point at 904
Daily S1 at 903.75

904.25 is the 78.6% retrace of Friday's up trend.

POC at 913.75... will probably be ignoring this level today.

Pivot Point 918.25... will be ignoring this level also.



s @ 28.50
need a close under 27.75
1 off 27.50


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flat 25.50
Nice Trade VO !
I wussed on my 1st contract
PWD...got any comments on TLT! Thinking about selling my puts here - what says you?
quote:
Originally posted by VOwater

PWD...got any comments on TLT! Thinking about selling my puts here - what says you?


I think you have a shot at getting the TLT to the 113.25 area but it may be worth it to just get out with less lost skin than what would have happened last week. Barron's was really negative on Treasuries this weekend and I think they are right, fwiw, but you are dealing with time decay too.
that was my original target, but it isnt gonna get there by next fri...Im right about the bond complex - just wrong with the trade...thanks for your thoughts

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quote:
Originally posted by Margie

myptof, I thought you were joking the other day, hilarious!



lol, no its real...its just a divergence trade, need to have been in a trend and a higher high or double top (or close) The divergence is the big thing. I ended up drawing eyes and naming it for my own amusement. I've been calling it the Batman for years now.