ES Journal - 2017/2018

Amazes me that anybody who has traded in previous bear markets would mistake the past two months for constructive "bull market action".

 

Pretty clever running Russell as the decoy duck.

 

Yeah, you nailed it. Your 100 point stops and 50 point targets are the answer.

 

Come on, Gartman must have written this.

 

Here's the day's return as promised. Wouldn't have bothered otherwise as it wasn't a big day. Took a hit on marks on an arbitrage late in the day which resolved today.

Not only does polenta not trade... he blatantly lies about his marks (his buy at 24 with ES at 27.50).

Polenta, WTF is your run?

 

Are you referring to this?:

"vader7x 15h15 hours ago
if we open under 2630.. assuming 2605 possible again.."

 

He also posted a short entry on that spike high in the first thirty minutes. (disclaimer: never read the guys tweets before this morning).

 

Long term support around 2530 has not been breached. We'll need to have a breach and follow through there before we can declare this a bear market and downtrend. Right now, we are only a little over 10 percent off the highs.

 

All I know is it's the best trading December in several years.

 

It's been a very good December and a fantastic year!