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ES short term trading 6-30-10


In my opinion the market tipped its hand yesterday signalling lower ,possibly much lower, prices coming in the next few weeks/months.Try as i might i cant find any longer term projection, or for that matter, fib relationship of any kind that says 1030 could be the bottom of the decline which started in April!. Therefore, from a kools tools perpective, There are lower prices coming soon! so like everyone else, i expect an oversold market to muster a dead cat bounce of some sort ,but likely from slightly lower prices first. The closest numbers i can find are the original high of 1129.50 to its initial move low was 1103.25. this has a 4.236 termination ratio of around 1018.50 and if A was from 1211.25 to 1032.75 ans B was complete at 1129.50 then C=.618A AT 1019.25. Look folks, i know im really reaching here but,1030 is NOT 'THE BOTTOM'And i dont think 1018-19 is either (we'll see the 900 's at some point.) but this zone might be good for a dead cat bounce. right now i have short term projections around 1023.50-1024.75 which could do the same. Its also possible of course that the bounce has already started , we'll just have to see what develops today . Anything is possible today, but by all rights seasonally thurs and friday should have some upside pressure. The main point of this discourse is that much lower prices are ahead in the next month or so (950-960?) in my opinion. As always time will tell!... good luck gang!
long 27 for quick scalp.
nice Size...there is my 27 area without me......that was a measure from yesterdays POC to the high...now take that range and subtract it from the POC from yesterday.....equal points...same distance....makes sense?
Originally posted by Piker

long 27 for quick scalp.


Out 28.50. No fades for me in the afternoon.
Many thanks. Have you experimented with different timed OR's, such as 5 minute, 10 minute, etc.?

Just curious because I use the first 5 minutes for my OR but also use the 1st hour's range as bigger reference points.

Originally posted by BruceM

flat 31.25...that's a rat!! anybody using them ???


opening range to me is 1st minute Lorn...and welcome here....same to u David...from your earlier post...welcome to the forum
why..?[gap in data at 31.25...so that wpould be cool for ya[ quote]Originally posted by Piker

long 27 for quick scalp.
[/quote]
trying small long at 23.75
Originally posted by Piker

Originally posted by Piker

long 27 for quick scalp.


Out 28.50. No fades for me in the afternoon.

1030 is NOT 'THE BOTTOM'And i dont think 1018-19 is either (we'll see the 900 's at some point.) but this zone might be good for a dead cat bounce. right now i have short term projections around 1023.50-1024.75 which could do the same. .... posted last night, page one first post
Originally posted by koolblue

1030 is NOT 'THE BOTTOM'And i dont think 1018-19 is either (we'll see the 900 's at some point.) but this zone might be good for a dead cat bounce. right now i have short term projections around 1023.50-1024.75 which could do the same. .... posted last night, page one first post


Yep, I remember that post. Kudos.
Good for you ,Bruce! im long one from 1024.00, covering 1028.00 however
took two at 25.50 and one at 28.50...done...no ammo for the 31.25 gap if they can clean it up


reason : they don't just usually bust 25 RAt without a retest...rest is just dumb luck
"went short at 38 even. I had a bearish bias this afternoon and after the fake breakout to the upside it confimed me going short"