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ES Thursday 11-3-11


Hey Bruce, I just hope you are a good sport and keep posting the way you always have!

I know I said that I will not post any more but NickP got me going with he's reverse psychology.

Basically today, I pointed out and trade from the 1237.00 area bc it is 38% Fibonacci retrace from 1283.50 high made on 10/28 at 16:01 and 1208.50 low made 11/01 at 08:52.
1237 area is also a Fibonacci 23.8% and it's acting as resistance. If you look at your intraday charts, you will see that the ES tested that area many times including late this afternoon in the O/N and was not able to find support.

Now ES is moving back down to test the next support area again, at 1214.50. Failure here will target 1204.00 and possibly 1178, same objectives as previously. Stops started above today's high now at B.E. 1236.00. Will see where it takes me.

Below is the same daily chart I had posted for some time now, last time was yesterday at 02:00.


Right now, next hours, next days, next weeks, next months and next years to come, I see for you the same I see for my self: Having the very best of luck, fun, awesome, incredibly profitable trading experience!!


Click image for original size
sp 50 es daily continues 110311 1918et follow up for 110211before the f
Wednesday V Profile. I think the 1227-1229 area is a LVN of interest, especially since its capped on each side by the 60min low and Tuesday RTH high.

1222-1224 is the next LVN.

1235-1339 LVN. This zone is rather large and I think 1236.75 is the number to watch as its the late afternoon pivot down.


Click image for original size
esvwap11022011a
Now that I have look into my in-box to read BM's note to me, I have seeing other messages there. Sorry I never look in that box before. I apologize to the people who had send messages.

ES has moved down and missed hitting the previous day low by a tick. That's a signal that it wants to go up and I'm placing my trailing stp at 1222.25 just in case. If stop out, it's most likely that will still move down but it could find support at 1216.50 and bounce back up.

ES now trading 1220.00 at 23:39 E.T.
That did not take long. Stop out 1222.25
Time for a brusky. See if I can pick it up some other time :)

ES now trading 1221.25 @ 23:47
Originally posted by sandoxe

ES has moved down and missed hitting the previous day low by a tick. That's a signal that it wants to go up and I'm placing my trailing stp at 1222.25 just in case. If stop out, it's most likely that will still move down but it could find support at 1216.50 and bounce back up.

ES now trading 1220.00 at 23:39 E.T.
For the people that hate me, here is something for you to rejoice. MF Global was one of my brokers and the funds I had there are frozen. I think I lost that money, don't know for sure but it is most likely I did. Today I took most of my money out from the other 2 brokers and only have what I need for trading.

Just having few bruskys now,

What's interesting is that a power house like MF Global, with all the money in the world that can afford to buy the best trading system, lost mucho dinero trading! Maybe they did had the best system, but lousy traders, or they had a lousy system and good traders? Na, if they had good traders, the system is just 25% of the equation.
Just be careful guys and gals, keep in your account just what you think is enough for your daily trading. If possible look to see if your broker keeps your funds in CDs when no in use as Ameritrade does. At list it's some peace of mind there.
even if the broker says that the money is in CD's, how do we know the truth best thing is to keep just enough to trade?
Originally posted by sandoxe

For the people that hate me, here is something for you to rejoice. MF Global was one of my brokers and the funds I had there are frozen. I think I lost that money, don't know for sure but it is most likely I did. Today I took most of my money out from the other 2 brokers and only have what I need for trading.




If, there are people who HATE you, this is getting out of hand. While Bruce and several others have significantly helped my trading, there should be room for everyone's ideas.

If someone is paper trading a concept, so what? Just as if someone is killing it live with a concept, it doesn't mean that concept will work for me.

If the forum needs a separate area for Profile traders so be it. In the meantime those who don't follow Sandoxe's setup (or any other setup) can just skip their posts. That's what I do. No offense but the setup doesn't interest me, doesn't mean it has no value.

This is the best trading forum out there! We do not know where the next great trading idea will come from and should not look to restrict the posting of ideas.

I'm putting my soapbox back in the closet now.


Good luck to ALL!
alot happen from overnight G7 will probabilty force greece to do the deal LV from over night 41.75
36.50,34
MF Global lost money because they were extraordinarily stupid by placing a $6 Billion bet on Italian bonds.

Whats even more stupid is MF Global was a Primary Dealer, given that status by the FED. The FED is suppose to oversee the leverage these dealers take on and prevent them from blowing up so there can be an orderly market in US Treasuries.

There was criminal activity going on in MF Global, that is clear. But do people realize there was also criminal activity going on in the regulator (FED) by allowing MF Global to do what they did?

Until the cops enforce the rule of law, firms, people, etc. will continue to do stupid, criminal things because the consequences are obviously not going to be enforced.

I feel awful for all you who were using MFG as a broker. Yes, keep only what you need for trading in your broker and understand you could lose it through no fault of your own. This is the world we currently live in.


Originally posted by sandoxe

Just having few bruskys now,

What's interesting is that a power house like MF Global, with all the money in the world that can afford to buy the best trading system, lost mucho dinero trading! Maybe they did had the best system, but lousy traders, or they had a lousy system and good traders? Na, if they had good traders, the system is just 25% of the equation.
Just be careful guys and gals, keep in your account just what you think is enough for your daily trading. If possible look to see if your broker keeps your funds in CDs when no in use as Ameritrade does. At list it's some peace of mind there.

doing battle at that 1262.25 this EARLY a.m. ..