MB what's your position? 1478 looks doable this afternoon. Just waiting for an entry signal on this pullback
Here is a chart showing a simple Mean Reversion system using Bollinger Bands (set to 2.5, not 2.0) and the 3 Day Average of the Bollinger Band Width ("BBW"). Basically when the BBW is above 1/2 of its 3 Day Average (0, 0.16, makes it 0.008 in this case) you fade the move that it is currently making. See annottated chart for details. Something like this is actually much more along the lines of Saxon22 is attempting to do with his trades which fade the current trend direction. As you can see from the chart it had two busted moves out of 9 (about to be 10 total) trades, so he would have to set stops and honor them. If anyone wants to pursue the concept further lookup everything John Bollinger, google'em, go to his website, buy his books, etc., study, experiment and apply the volatility mean reversion technique. I don't bother with counter-trend trades anymore, so it's no sweat ... JJ
What does everyone make of this strength? I'm short based on my gut (good idea huh) and in the green. That nerve gas story comes out and we don't sell off at all...remember the days when that would shoot the market down? Objectively I'd say we are going up up up. But who wants to be long going in to the long weekend...especially with chances for terrorism. Is today's action anything more than window dressing for funds?
i dont post too many intra day trades. but, I personally guarantee the sept ES will close higher today than its current price of 1463. 149PM EST blackguard
long signal on first pullback was 60 long signal on 2nd pullback was 62 ....taking the signals... is the HARD part.... ....let's see if we can stay above trendline now....