ES Journal Archive (2006 - 2008)

oso,bounce usually means rally,but in this cases you couls be saying bounce in puts,which is it?

 

Getting close

 

monthly has support at 22, feb aug lows/,usd/jpy supp near 105.60 on daily/,oil res 110.86,/usd/jpy now has res at 106.02

 

(1211/1212 38% pivot, 1203 50%, 1191 61%, 1179 76%, 1158 100%) lets see which one holds.

 

Anybody seeing oil here? Absolutely insane... its parabolic move is like one of those dollar stocks that were randomly having huge runs last year (mama.com comes to mind). No doubt about, several traders careers DID end today... wheres regal when you need him?

 

I think Fib sucks as the market prognosticator , but I do have a order to cover and go long at 1211.50

 

covered 16.5

 

The gap from the Thursday close is around 1206...

Edit: Done....

 

This is not normal market condition.

Repeat - not normal.

Any moment news is leaked on the success or failure in the development of the bail out bill will move this market 20+ pts one way or the other.

No need to participate if you are not itching to trade

 

I don't see a big problem with it other than me failing to execute correctly. I got stopped out because I typed in the wrong entry point. Had I followed my system and not allowed myself to get distracted I would have walked away a winner.