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jimkane
Rep: 3,058
Posts: 33,089
Starting it off. I'll quote my last post from last week.

"Anyway, the ES did something it usually doesn't do, and that's make any kind of move in the Friday after close mini session. This time it kept moving up, set a new high for the entire move, and closed almost at the high tick. It is now fully at the monster weekly backtest line. If this is a bear market, it should roll off this, and roll hard. There is a key area above, built from the immediate price action, and that comes in at 76-87, with a grouping of key Fibs at 94.00-95.50. I could see it hitting the lower end of the area, maybe a little above the lower end, and still be respecting the key TL backtest, but not much more.

Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history."
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jimkane
Rep: 3,058
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You know when I say that it is generally at the point where 'They' know it is going to be crushed.
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jimkane
Rep: 3,058
Posts: 33,089
One good setup was available so far. I'm looking for the next one. Right now I can only think 'Short anything that moves. Or doesn't.' The market may launch right on up to new all-time highs. Probably will. And I like to be lined up with the flow. It's my 'specialty'. But, I also have to believe this POS is going to respect this area, at least somewhat. An upsweep to 76-78 here might be a good start. But my plan is to fade this 'strength' when the time is right. We'll see.
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jimkane
Rep: 3,058
Posts: 33,089
Okay, watch this little dip here for a launch.
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jimkane
Rep: 3,058
Posts: 33,089
No launch = swooooooooooooooooooooooooosh, in my opinion.
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jimkane
Rep: 3,058
Posts: 33,089
Watch closely.
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jimkane
Rep: 3,058
Posts: 33,089
Pop up off the ABCD now? To 76-78? Or just chop in here? I'm salivating about the thoughts of shorting this, especially from up a bit higher, if they can get it up there.
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jimkane
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Posts: 33,089
I'm not saying here might not be good. Only higher is better.
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jimkane
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Posts: 33,089
Nothing wrong with scaling in some here.
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jimkane
Rep: 3,058
Posts: 33,089
This is not 'advice' or 'a call', I'm just talking trading strategy, from the standpoint of my opinion.
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jimkane
Rep: 3,058
Posts: 33,089
What I wouldn't give for the pig to just die right here.
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jimkane
Rep: 3,058
Posts: 33,089