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ES Wednesday 2-12-14


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just yesterdays day session...note low volume and high volume time spots
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daysession



my video ramble about the lines, the overnight and my basic plan
No video below? Try this link: basic_plan.swf






looks like we are set to open right near our 17.75 transition point.......so the simple idea is ...will it hold price up and then they go tag 22 - 24 or will it try to rally, drop back through the 17.75 and go get our 13 - 14 area...? I'm looking for sells after so many higher highs on the daily time frame
watching opening one minute range closely today for clues...many will try to sell the OR low if it comes...I'm waiting until the run out of the O/N highs and YD highs to look for shorts
I'm selling at 20.75 print light and will add and start main campaign shorts will be up at 22 - 24 if they can push...so far they are holding above YD selling tail which is good for bulls.....so far ...we need to get back under the O/N high and YD highs or else this is gonna be a clunker..target is 19 even
my plan is to add at 22.25 and 23.25..then revise target to 20.75
we have a few days of trends in a row and everyone gets spooked even though trend days are rare.....we need to stay focused and realize that they won't keep trending it off the open forever it it is only for a short period of time....so we take small wins or have losses on those days but then get back to business as usual...we are in the plus 4 - 5.5 zone now...open and drive so far...all the volume is coming in at the highs...hope that is good for shorts in general....no adds yet
staring main short idea now at 22.75....targets on these are the 20.75...
added last part of campaign at 23.25 print.....revising target to 21 even and will take off heavy due to first earlier sells that got filled at 20.50...average price in for me is 22.75...will start sweating only if they start pushing above 25.50
Congratulations, Bruce! Fun and instructive to watch!
came out heavy at 20.75....we have a double top at the highs...so best to take MOST off ....I will try to hold 3 contracts...one for YD high, on for 17.75 and one for 14.25 ...LOL....could be funny...we need to get out of the VA lows from 1-23 and that seems like a long way down to me..especially with that crappy top
thanks and hopefully it is also a lesson about how difficult it is when you jump in early and don't wait for your areas to hit......that first sell on 20.75 was a mistake in hindsight...that is why I went light on that but still counts as a mistake on my part
Originally posted by ackwired

Congratulations, Bruce! Fun and instructive to watch!
Thank You Bruce