ES Journal Archive (2006 - 2008)

Lest's see if the lunch hour will bring surprises. Sometimes this is where the market makes its big move. I hope it is going to go up.

 

FOMC Minutes from August 7th Federal Reserve Meeting Released 2:00pm on 8/28

 

rule of 20 blast offf

 

Mine too. I'm long now at 145050. It would seem to me we are DUE for a retrace.

 

I am long 9 cars at 1453.25

 

We should make it to 54. What happens after that I just don't know.

 

Just curious .. after you endure a relatively large drawdown then it returns to your B/E, do you bail some at/near your basis, or hold out for x number of points?

 

That would put me + $350. Not a lot but I will take it.

 

In a market like this I would try to bail out at 1455.25 for 2 pts. On the days when the trend is not so one sided, I would wait for more 3 maybe even 4 points.

 

Hmm ... so about a 50% retracement of today's RTH range.

Thanks. Best of luck.