I will start looking to REshort the ES again in a zone between 1275 to 1295 area as a medium term position trade....In the meantime I will just keep trading intraday moves long or short. Covering my previous long term ES short position off the 1200 area bounce turned out to be a good move.
Great cover.....Does this mean the sub 1200 blow off(black swan) is still in the cards or has AMT shown the odds are less probable now. TIA
Yes it looks as if we may have to wait a bit longer......that was one heck of a strong BUY signal I had as the ES blew through 1205's. I had to pay attention to that one and cover for now.....looking for a new short re-entry point at higher bounce price levels. Unfortunately there is STILL a lot of bad economic news to be played out this year, so that will of course influence the timing of the ES trading sub 1200's in the weeks/months ahead. Also, you never know when bush/CHENEY will go bomb dropping again.
Remember to watch this zone from 1275 to 1295.....any breakout through this zone then look to pound the 1330's as I have stated before....very critical price levels.
Selling with signals in this zone has worked for 3 times in a row now...I played some overnight and intraday short trades in the ES and I am holding a small position for any additional downside move.....stop at b/e around the 1285's. Next time up to this zone I will not take any short signals most likely....I will wait for the 1330 area next time around.