ES Journal Archive (2006 - 2008)

stop moved and full short to 65, average 62.75 now and holding. stop over 72 target low 40s.

 

Trend day ... again?

The W pattern from last 2 RTH trading days is now implying gap fill to the up side.

 

Short 59.5
Stop 63

 

Out at B/E

 

going out on a thin limb targeting 37-39 today, will hold shorts.

 

Saliva, can i ask you why you've closed this position? your stop wasn't triggered, right? just trying to understand. tx.

 

Down trend will be broken if the W pattern objective is reached.

On the otherhand if 50 is taken out daily down trend will resume

Ultimate fight going on now.

Edit: Same for dollar yen too.

 

covered at 57,that res could act as supp

 

Selling pressure evaporated, indicating that the bulls could hijack the ball and run with it.

I'm just playing safe. I could always re-enter later if I feel it's warranted.

 

Just curious. Is this rally attributable to those mutual fund johnny-come-lately managers? Besides the possible IHS, the technicals looks pretty tepid and nothing suggests this rally as valid from the fundamental camp.