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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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got 35.25 and holding two...just too much...you either see it or ya don't.....
one more off at 33.25....keeping loose stop on last.....c'mom 25 ......Yikes ..perhaps too creedy!!
targeting 28.75 on last one...we'll see!!
flat 34.25..damn air pocket traders gonna win on this ...LOL!!!
thanks for the effort on $tick explaination Phileo,,,,,Ticks seems to have a whole different feel in Pm trade now...just can't really getthem....new tick lows but now tringto make new afternoon highs...
just can't see how anyone can hold long term in this market....suppose we were short off that key 78 - 81 zone....? This market could go anywhere and does......like a freakin Junkie !!

So we drop almost 20 points in RTh early on and then consolidate in a 10 - 12 point range for almost 4 hours!!.....this gets back to trend day concept...I wouldn't consider this a trend day....but you had the right feel Phileo with your analysis on volume, the vwap, the test of the 46...the $ticks...nice read on your part...


All low range bars showing up at 41 - 43 area so no surprise that POC is there too......what happen to my 56 print???? an 85 % probability hasn't happened .....

seems like we may go down one last push...very smnall sell at 34 now..
Just got back.. wow! remember folks the low on the sep contract was 1032.25...
took two at 31.50 print...one left trying for 28.75....
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long from 1032.75 covering 1035.25 hopefully..proj on the one min is 1038.75
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!