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anyone trying shorts??


Up here at 845 ES....S&P is holding back this rally today...where the HECK is my plus or (hopefully) minus 8 - 10 range? has everyone gone to 24 hour trading???
the challenge many times for me with these early morning trades is that the overnight high is in the "window" meaning if we take the open print and add the
plus 4 - 5.5 number we are hitting the overnight high,,,,,a better trade would be to wait for that to be run out...then the problem arises when they don't go for those stops and we miss the trade
got 21.50....only two left as this was overnight and lighter
that was also the minus 4 - 5.5 zone.......somedays the targets work out nice..will try for yesterdays highs near the minus 8 - 10 area
just so everyone knows....I'm deleting SPQR's posts that are obnoxious...we'll leave it at that
Quit deleting my posts
Another observation: both yday morning and this morning, the NQ was way weaker to the downside with a bigger magnitude move. Traded NQ's yday morning and today so for. Just watching the ES and Dow and as they show weakness the NQ plummets. In other words, trading the NQ off of the ES chart.

Just use 5 NQ contracts for every 2 ES contracts as an equivalent $ value move per point ... NQ yeilding bigger $-based moves for past 2 days, primarily in morning ... and as mentioned, has been really weak on any overall mkt move down intraday compared to ES.

Or, another way of looking at it is 1 ES point = 2.5 NQ points. When the ES had dropped 10 points from 925 to 915, the NQ had dropped from 1430 to 1395, a 35 point drop (the equivalent of 14 ES points). Hope my explanation is making sense.
anything rude or obnoxious gets deleted
pulled one at 15.50...only one left......
thanks MM....makes perfect sense..I'm trying for overnight low.......I'm gonna be sorry that I didn't have more on today I think
quote:
Originally posted by BruceM

thanks Red..I got the 25.50 and the 27.25....I don't like overnight usually....will try for 21.50 to tighten up



Hello, Bruce.

I was watching pre-market ES and casually reading new posts this morning. I registered as a member here to ask you if you wouldn't mind divulging how you profiled 921.50 if you don't necessarily pay attention to overnight trading, and at that point an opening range and thus a bias hadn't been established. I'ld be interested in learning more of the zones you referenced and traded without an RTH bias or overnight reading, if you care to share.

Per chance do you use a variation of Mark Fisher's rolling pivots or somesuch?

Thanks in advance,

JMR
Just about perfect - perfectly wrong that is!