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ES short term trading 6-29-10


LOL well, i going to start out with a big essay on why i thought we'd see a surprisingly large down move today but the market has frontrunned me again!....
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hopefully someone else took that air poket trade with me....may be the low if we get lucky now
holding three for 46.25 , 50 and 56.50.....should get interesting now...that was hour flush out to an air pocket in case anyone is trsading here today
still no hour run out.....
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well we had volume and $ tick diverge..just not sure it's gonna be enough to call a low...still looks like 46.25 and 50 need work.....those are the trend stairstep points and where the air pockets filled earlier
Originally posted by BruceM

holding three for 46.25 , 50 and 56.50.....should get interesting now...that was hour flush out to an air pocket in case anyone is trsading here today


Bruce,
It's a potential trend day down. The opening price was pretty much the RTH hi, and never looked back after that.
Price is running away fromn a declining VWAP.
I am looking to sell any bounce above 1046.
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1048 is a 10pt bounce from the lows, and still does not reach the selloff starting from 1049.

1046.5 was prior swing low before the econ.rpt. It then became resistance, as price tagged it and failed at 710am (PST).

We have not had a single +ve TICK extreme all session, and TICK has been spending way more time below 0 than above it, although I see now some short covering spiking up the TICK
triples below have made me take one off at 44.50 with plus 750 $tick

holding two....not trading for those trips right now
Originally posted by phileo

1048 is a 10pt bounce from the lows, and still does not reach the selloff starting from 1049.

1046.5 was prior swing low before the econ.rpt. It then became resistance, as price tagged it and failed at 710am (PST).

We have not had a single +ve TICK extreme all session, and TICK has been spending way more time below 0 than above it, although I see now some short covering spiking up the TICK


I'm still looking to sell anywhere above 1046.5.
However, after looking at the daily chart, i'd say it's possible that 1038 could be the LoD, and perhaps even swing low. We'll have to see how the Pro's trade the close today.
LOL.. I know what you mean Bruce... if i had the guts to hold on my 1074.25 short from last nite id be rich! But thats ok, i'll take my nickles and dimes as long as im taking and not giving. Fwiw, after abottom here or more likely soon tomorrow the gann day today was supposed to be a low, and longer term i expect a rebound into friday, giving bulls false hope, but we;ll see. God,
if only i could have gotten that 1048.00 short(i think the market stalled at 1047.25 or .50 ) i would have held for at least 41. That would have been sweet, but i guess theres always tomorrow!