ES Thursday 11-20-14

Today's band. We are already at the lower 1/2 bands as I type

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Right now Jim is talking live in his webinar about an asymmetric trading opportunity today.
Jim sees only short covering up till now.

I asked Jim if he would consider today an open drive? (i'm waiting for an answer)
Will that famous O/N stat fill in today??? 96% of the time the RTH will break the Overnight trading range...
selling 48.75...two sets of singles trying to 47 is target on this one......49.25 is an lvn on weekly chart
Jim says: you do not want to fade a one-time framing market.
I was too busy with domestic malarky to even see the opening hour of trade...
take a look at 1 minute VIX chart... Tomorrow is expiration, get a load of the fat fingers in the 9:46 ET and 10:01 ET.

These markets aren't manipulated.
average price for me is now 49.25....51.50 is uncle point on this final trade
hope this trade works out for you, bruce.

My open-drive paranoia paid off so far this week. :-)
And I learned a lot more about these open drives during the past 4 trading days.

What I have learned with fading the market is that you have to be very precise to make money. Bruce with his experience has been very precise and it has worked well for him. Since the past 3 days were open drive (I will include YD too though it might not meet the text book definition), it has left me hurting a bit. The reason was that I was not precise like Bruce. I can get away with it most days but the open drive days make me pay for it.
NewKid I agree. Bruce is a great analyst and an even better trader...if that is even possible.
thanks for the good words...revising target to 47.50 but feel I may be ending this day on a break even or a slight loser for this campaign...running out of patience and we are past 11 am...
Thanks Bruce