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ES 11-18-09


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Nice little bounce off of the projection and P.T.'s 100 ema avg....News coming up 7 min.
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Just covered at 1107.75 cause i have to pick up my daughter. Brb one half hour!
Back... I see that 1104.25 got hit ..and a nice little bounce...watching
Question regarding your method, Kool. I notice how you often enter at a 161 level with a 2.5-3 point stop realizing price could always go to the 261 level with risk of stopout. Is there anything you look at when price hits the 161 which would cause you to hold off from entering eg indicator position, etc. Thanks as always. I will be in and out today- busy at work.

Not really, friend. I look at many things... in that case if were as bullish as i thought, then remember , the close was 1107.50 and if were going to start there or gap up then it seemed like the 1.618 would get hit , not the deeper 2.618. At least ,that was my reasoning..faulty as it was , at least i got 3 handles total out of it!
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the 161 (1106) holding for now
P S : and bingo on 1107.00!