ES Journal Archive (2006 - 2008)

Going long at this level is a bet of the mkt putting in a major bottom.

Good money management is necessary.

 

Boom, there goes the print.

 

On 1 tick chart it makes big bottom pattern.
If this does not hold amen with this level.

 

ES & NQ just took out the 52 week lows!

This could get ugly.

 

ES low from yesterday around 1163

 

The SPX low from yesterday could have been the target.

 

I was referring to $SPX, $NDX, & $INDU CASH MARKETS.

I use the cash to determine the futures.

 

holding steady at 1175, looking for entry by shorting es sept options at 1150.

 

newguy,
would you be shortin' calls or shortin' puts?

 

I ain't too sure we'll reach this milestone by the end of the day (that would be a 60 point drop!), but it's a remote possiblility, no?