ES Wednesday 9-12-12

Numbers I am using today

1450- 1453 will be upside magnet if the inside day from yesterday means anything this week

1440


1436.75

1433.25 -1434 - Guaranteed magnet ****** ha !!! for day session to print

1429

1426

1423.50


1416- 1418 will be downside magnet if inside day means anything for a target this week

i will add 45.5-47 to what Bruce just mentioned, and 53-54...otherwise pretty much on the same page

38.25 is our high volume price now and will be critical up here

1434 is still in my plan...just not sure they are gonna let us sellers have it so easy off that 38.25.....in other words they may jerk around that price still...hope not

very difficult to have an entry near 38.25 when you see the volume come in and have your first key number at 36.75.....we become scalpers in this crappy volatility...it just sucks!

on the plus side the first 30 minutes had the lowest volume of the week which in theory should be good for mean reversion trades

is this even possible to end the hour and have only 2.75 points of range ?? hopefully it will expand before the hour is up and be done with my enemy - 1438.25 !

if you are an IB fader I would be careful with these small IB's !

I'm on second campaign short and just took something off at the break of the Ib just in case...it is also the peak volume price the last few days combined...still trying to hold runners for down into that 33 - 34 so getting out here on most was a good plan anyway

now what us short sneed to see is all the ib breakdown buyers COVER their longs on new lows which will help us get to our lower targets

flat at 34 print....no clue from here ..need more info

nice trade Bruce

Thanks for the feedback Warm ..I'm only about a month off but welcome to the forum