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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]
I'm not by my normal com so please forgive my rough charts here. i have noticed we get a bounce off the 38 fib level to the 88 fib level. I use a stochastic and it shows we should be topped out here in @ 1290-1292 depending where you draw your fibs from. looks like a high percentage short here to the end of day. i would take one at 1291.50 with a tight stop above the high pivot and hold for 1985-1287 staying flexible on the way down to market change
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fib bounce
Here is my "friend's" footprint again. Hope for a retest
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2011 03 231411
Friends sorry for late update. Held up with work.

I posted the message after I took my trade. Not sure whether 1288 came back after I posted the msg. I kept 3 points target and stop loss 4 points. 1291 got hit and got 3 points profit. May buy one more time around 1288.5
per my post above...88.50 out part the position @ 3pts leaving the rest for 85 and tighening the stop to 90.50 so i don't turn a winner to a loser.
going to take short @ 1294 . Target 3 points
1294 filled in.
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2011 03 231506
IF we go higher, all these shorts would have to cover...
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2011 03 231517
Including me.... :-(
Dow Trans Index is not participating as strongly. DTX is not as easy to move, but serves as a good gage for real strength.
Hey MM,

I traded FOSL, PLCM & BIDU, great trades!

Looking foward to your posts


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.


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