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ES 3-6-13


what my numbers look like and why. Hoping to refine this after I see what happens in the Overnight session.
No video below? Try this link: wednesday3-6.swf






we don't usually see two gap and go days in a row so any open above yesterdays RTH highs makes me lean to the short side more....

so the revised numbers from up here at the current 1544.50 will be 1541 and 1439 ****the 1439 is my magnet price today and if lucky to hold a good short then I will be scaling out heavy and holding small for gap fill etc..

I won't be buying to get long off the 1541-42 but will use it scale out of initial shorts
a quick video update now that I have seen my MP charts...high of yesterday is attracting all O/N volume....
No video below? Try this link: wedmorn.swf






my feeling is that those really looking to get long would try under that On swing low and the VA high from yesterday at 41.50...good place to cover some of our shorts
these markets are out of synch..unlike yesterday.. so i am not afraid to sell rallies...Ym is leading higher...NQ in the basement..so will look to reshort near O/N high and even better if they can push out to the plus 2.5 number
nice call Bruce
any long trader will get nervous if they start getting back under that 41.50 again...va low from YD..I want them to get nervous and add to the selling to drive price down to 39 area

only problem on this short is that the O/N high is the exact same price as todays current high..not the greatest way to put in a swing high but stranger things can happen
thanks Sharks..these markets are so well correlated even when they are outta synch...see how the Nq was hittiing it's POC from yesterday and taking out it's O/N low while the YM and ES were up at their VA highs and Overnight midpoints

interesting battle shaping up
this is where trading is simple to figure out but sometimes hard to hold trades..all us shorts want to see them stay under the VA low and the High of yesterday.....and the longs want just the opposite..hence the battle in here !
shorting this rally hasn't been kind to me, I see how you pick your spots and take what the market gives you.
making good entries today and getting good targets but runners unable to work any magic.....I think that double top has me reacting faster than usual which is probably the smart thing to do as NOBODY REALLY knows what will happen up here...we can only take the clues given at the time

I hope we don't have to rely on the 80% rule today ...LOL!

I'm hoping this sells off as we approach the closing hour...otherwise I can't hold any longer
just a suggestion and that is to use the VA of time especially when looking at the 80% rule as the rule was developed when time was popular.

today the VA low was 1537.75 so the VA rule worked....I think there have been too many beating up on traditional MP for too long. I'm not bashing VP in any way but time really does regulate opportunity as per Dalton.

most would be wise not to have held any shorts after we came back out of the VA high this afternoon as they still have not taken an Overnight range but still might take that high....as long as 41 - 42 holds then they should go for it...not a great time for me to play so good luck if you are trading now






Originally posted by stocksster

Originally posted by BruceM

...I hope we don't have to rely on the 80% rule today ...LOL!...


Looks like that 80% rule almost hit today...still never know, there is time left to accomplish this.