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ES short term trading 5-28-10


Anyone trading today?? anyone shorting 06.25?
Bruce, ak check out my thread please and tell me what you think!
I guess they just don't like that 1100...high print is 99.50 on that up thrust....
Originally posted by ak1

Look at the 5 min bearish seperating line


I saw` that...
Originally posted by ak1

Paul9: Why are your #s different than the 5 day average L/H posted on mypivots. Life whats your calculation concept....care to share...


AK1, very simple. I am not measuring the H minus the Low for a range...

I am measuring the average of the RTH H minus the RTH open and the average of the RTH Open minus the RTH Low.

In other words, these are the average meanderings of price relative to the open during the day session,
I am measuring average movement relative to the open of RTH.

Calculation is simple.

You can do it with daily bars, but the bars have to represent RTH (day session) only.

High versus Open is simply Averge(H-O,5)

Low versus Open is Average(O-L,5)

Once the RTH has posted an open, take the Opening price and ADD the High - Open 5 day average calculation.

Once the open is posted, take the Opening price and subtract the Low versus the open average calculation.

This is not High minus Low range, it is more specific, it is (sort of) average varience from the Open. I like it because it let's me know whether PA is breaking from 5 day pattern of normal.
On that note I would like to suggest that as most of us trade Emini S&P actively we should designate a special page that carries #s for the day like Overnight high, Overnight Low, RTH high,RTH open, RTH Low & Close.
As of what little I know of the market Price is all that matters and no calculation or indicator can follow it more closely than the price itself........No lag, no guess work just pure #s for everyone....
Originally posted by ak1

On that note I would like to suggest that as most of us trade Emini S&P actively we should designate a special page that carries #s for the day like Overnight high, Overnight Low, RTH high,RTH open, RTH Low & Close.
As of what little I know of the market Price is all that matters and no calculation or indicator can follow it more closely than the price itself........No lag, no guess work just pure #s for everyone....

Good idea +1. There's a daily topic dedicated to the ES that someone creates each day (e.g. this one you're reading right now). Someone should just post those numbers at the start of the day. Whoever is first and around that day.
Yes DT, but my request is that the page should be like a POC/ Value area page that we can quickly refer back to and that the #s can't be altered/changed once posted. Sort of administrator controlled.
Anyone position long right now. I shorted at 1100 on Friday with my stop at 1110. Could use a looser stop. This could push into 1125. The trend to me is still down and feel the upside if this trades back down to 1040 again is very big. The break of that support could send the market into a free fall. 950,875,800. These levels will be next to be tested if that happens. The jobs numbers seem to be pretty important in terms of what the bulls are doing. I'm short two contracts. No price target looking to use two stops. Bring one to entry and the other as a trailing stop if I get onside.

Also if anyone has money kicking around CME in my opinion is a decent long. Nice on the charts Daily and Weekly. CME Group was heavily involved in the package to Europe. Trading at $316. Stop at $290. This thing was up near $700. It will see $450 again on the conservative side. 8-9 percent risk for 50 to 100 percent return. This is a longer time frame trade. 1 year or more.