ES Journal - 2013

Interesting day...a lot of movement but VIX doesn't really confirm a stronger move down. The down trend ended after a touch or two of 1751 broke to the upside then went back down. EOM settling as well.

I'm going long if we hit 48.5

.

 

out half @54.75. stop @52.75 now

 

all out, -3 ticks 2nd half, +5 ticks first half.

Reverse short @52.50 stop @54


edit: All out +1 point

Think I'm done for the morning. Market smoked too much crack for my liking. Time to run errands

 

don't you just hate these buyers?

 

Especially when it is the fed reserves with their unlimited pile of liquidity. I don't think it is an even playing field given that the fed reserves can buy futures. No reason for it other then manipulation. It truly is no longer a free mkt.

 

and why would we hate the buyers ????

 

who would you sell to if there were no buyers?

 

Cause bears worked really hard, right there, right then, and it's soooooooooooooo close

 

I won't care if I already sold right?

 

We just had a 5% correction a few weeks ago. I think we don't go much lower from here. Probably go over 1800 over the next few weeks. Then maybe a 5% correction in late Nov or Dec.