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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???
my bias is to downside as we can't seem to ignite a rally above the hour high , the open print and yeaterdasy low......perhaps if we can get some good $tick readings and some 30 minute closes above the open again we can ignite some buying till then for me it's downside....this could get ugly if we get below the 87 - 89 and start 30 minute closing below there
could even see the 75 area.....
hey MM,sorry if my other post seemed abrupt....was trying to manage that trade.....anyway the volume spikes can be seen on the one minute chart so my 87 - 89 came from those created on May 4th...always good to know others have key numbers too created from other reasons,,for me I'm watching to see how they close the noon bar to signify if they will try for lows from the 4th first
my thinking is that there just isn't the same compelling reason ( whatever that was) for those 87 - 89 buyers to step in again...sure seems like they tried again and weren't rewarded in the same way.....we need some volume though....hey Joe, can u start shorting pleasse???
Hey Bruce, no worries mate. I just was juggling too much stuff this morning and at a quick glance, accidentally pulled the 7:30 "open" price. Funny thing is that when I used the -10 range numbers, I ended up with almost the same price level ... and woulda been kinda funny if I'd traded it. It's like the math student that got p.o.'d at his teacher for marking a question wrong for which he had the right answer. Teacher said answer was luck because his calculations were all done wrong to arrive at it.

Anyway, have a potential support area/zone around 879 ... actually more like 878-880 based on prior price action looking days back on intraday charts. That's if the 885 area doesn't hold. At least that's what I'm looking at for now.
quote:
Originally posted by BruceM

....hey Joe, can u start shorting pleasse???




LOL...Well it all started las Thursday when I got the flu. I was long and made some good +++ I was sick most of the day Thurs, and Friday. So I really wasn't in a position to feel a top, although I wasn't long over the weekend, I did start buying and am currently avg long @ 899 in my swing account. Almost -16 now I am going to sleep on it and if there down in the morning I am going to liquidate. I am also long quite a few calls and thank goodness there June's so I am perrty sure we'll get a bounce up by then, and if not thats okay too. My day trading has been great no down day this week nor last week. Between me being sick and my long term trades I have really messed my swing account up its going to take at least middle of next week to fix this so annoying. And to top that when I look at my 30min chart I cannot get an unbiased choice...like right now ES hitting some support and my RSI is in a nice pos div. any other time I would have bought this afternoon but I am so flustered right now. I need to stop the bleeding so I can think straight. I miss it when trading was easier, I bet its those long term trades I took thats blinded me.

And the bad part about it is going to be mid next week if I get my mojo back to pay for this loss.
ohh and when I look at the daily I see a big bull flag. I need a vacation, I am goin fishin all week after I exit this trade.
today was a classic...the run up into the plus 4 - 5.5 zone to break the overnight high with a volume spike and "air" on the chart....plus 700 $Tick could have been higher for the fade but the price action is always more important to me...getting away from posting as I trade them but the principles are what is important anyway..with any luck the runners will go for the 81 area
we gotta resolve the Dow and es divergengence for this to get yesterdays lows....no doubt a lot of chop with the NQ being strong too.......will monitor for a trend shift and a 10:30 close above the open print...then yesterdays highs become a possibility
quote:
Originally posted by redsixspeed

Bruce;

Check your e-mail



That was it Bruce; thanks for making the edit from my post above.
I went back to do it but the time had expired.
Just about perfect - perfectly wrong that is!