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ES 03-23-2011


Good morning all. Just a few thoughts I wanted to share. We have a unique situation here with at least two of the best traders you will find anywhere Kool and Bruce along with a number of others ( sorry for not mentioning all} sharing their thoughts thru out the day. They give price levels and reasons prior to making a trade. This is the most valuable assist a trader like myself can have. No I do not attempt to blindly piggyback their trades but knowing what price level they are interested in and why sure helps me. So that makes up the proticall here. Pls feel free to post but do it before the trade and say why.

[Admin edit - removed off-topic material]
For any equity traders out there, if the market moves up, here are some stocks that may offer some potential good long plays for a day trade (or more) today and perhaps the next couple of days.

NFLX, FOSL, AH, OPEN, PLCM, DVA, SINA, BIDU

Some look better than others ... but I'll be watching these. If the mkt sells down, then best to avoid 'em for now.

MM
Great free MP look every morning around 9 by James Dalton. Click on blog every day for his look.
http://jamesdaltontrading.com/blog/
O/N Profile.


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1513
Hi,
I haven't been around due to family problems. I've been trading, but due to other problems which require my attention on almost a daily basis (sickness in the family) I can't take the time to juggle family matters, trade, and do some research work for former clients.

I did stop in this morning to read yesterday's last couple of pages.

RE Monday fibs: all based on RTH only

ES prints at 618 extension (.618 * Monday RTH range, added to Monday's H or subtracted from Monday's Low, if your charting has a fib tool and you stretch from MOnday H to MOnday L, if the tool counts that as 100%, the .618 extension will be labeled 161.8 or 1.618)

anyway.
RTH only.

If ES prints 1282.50, should extend down to 1279.25. If 82.50 is printed and price is able to rise and have a 30minute close above 50% of Monday's Range (which is 1292.00), then the signal is rendered extinct. and a move to Monday's H would be expected.

I have a friend who looks for ABC or 123 buy pattern in 5min when/of the 618 extension down is hit. (for intraday scalp)


Monday H was 1296.25.....618 Extension up = 1301.50, 2X = 1304.75
Monday L was 1287.75.....618 Extension Dn = 1282.50, 2X = 1279.25

any tag of a 618 extension (up or down) that can make a counter move that generates a 30minute close > (or less than) 50% of Monday's range renders expectation for an extension to 2X meaningless.

Boy this has taken me way more time than I have.
Good Trading to all.
Thx,Paul... that clarifies for those who were wondering(and lines up with the one min projection at 1279.50!) We hope things get better for you soon and that you'll be able to return! Good luck!
Originally posted by koolblue

Thx,Paul... that clarifies for those who were wondering(and lines up with the one min projection at 1279.50!) We hope things get better for you soon and that you'll be able to return! Good luck!

...you know the downside 0ne min proj... upside could be 1286.00(1.618) and 1288.75 (2.618)
short from 1285.75!...looking for 1279 and change... eventually lower!
Good to see you around Paul. My prayers for you and your family.
Originally posted by koolblue

short from 1285.75!...looking for 1279 and change... eventually lower!

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1515
Hey MM,

I traded FOSL, PLCM & BIDU, great trades!

Looking foward to your posts

Diana

Originally posted by MonkeyMeat

That's GREAT Nigel! Even though the ES gapped down and sold down early, most of the stocks held up with most moving up pretty quickly and steadily when looking at their 5min charts. Of course there's always gonna be a lemon or few that don't behave as anticipated.

NFLX (which can be a mean bastard sometimes), FOSL,OPEN,DVA,SINA and BIDU were all good pretty much from the start ... looking at their 5min charts. Then again, it's where you get in and out that makes a good long trade work (or not).

PLCM was the skanky lemmon and AH kinda all over the map ... woulda been a psychic to pull any money outta those other than the late day rally in AH.

I'd invite others to take a peek at the daily and today's 5min charts on these to see what some good setups in equities can do. Anyway, no horn tootin' for me ... been doing this too long to have ego involved. Just glad someone made some coin with 'em!

Also, as I've mentioned before about equity picks I've posted ... they can act as an INDICATOR for ES trading. If the majority of good long picks just fall apart ... tends to signal more weakness in the market (ES). If they are holding up strong, then it can signal strength in the market with potential intraday upside asserting itself in the ES.

Btw, what stocks were you in NIGEL?

Originally posted by NIGEL68

Thank you MM for those stocks, took 3 of your stocks and made more than $400 today.

Keep posting



Originally posted by MonkeyMeat

For any equity traders out there, if the market moves up, here are some stocks that may offer some potential good long plays for a day trade (or more) today and perhaps the next couple of days.

NFLX, FOSL, AH, OPEN, PLCM, DVA, SINA, BIDU

Some look better than others ... but I'll be watching these. If the mkt sells down, then best to avoid 'em for now.

MM