ES Journal Archive (2006 - 2008)

sh 07 ,907.50 ....903 bid ,902.50 area add sh 910.25

 

short 908.75, stop 914, target 900-

 

limit order to sell 918.00
SL 921.25
target 908

why?
R2= 918.50,
BoyBrutus enthios chart shows poc at 918.50 also, worth a shot.

anyone have any observation on this: Gap today has created an island (RTH) consisting of the prior 5 rth trade days.

 

Also, only 1.5 away from Pek's earlier memo.

 

Your SL is on a Gap close 111008

 

If the mkt wanted to fill the gaps down there, it should not be able to reach 918 level so that a 100 pt dive can complete the job.

 

Thanks, BB

change SL to 925.75

 

stop moved to 903


12-08-08 10:22 AM

buy stop 908; stop 905

 

Up gap + first 30 min breakout upside ... supposed to create a melt up scenario.

And that never happened.

What does that mean when normal intraday action/reaction not behaving normally?

Higher timeframes and other influence at work now.

 

SPX 907 to 920 is an important support/resistance zone, going back all the way to September.

Today R2 is at 919, and POC is at 918.50

I will be looking to short if market reaches these levels --- if it breaks out then ES can quickly reach 950

Besides ES trade, I will buy JANUARY UYG puts.


CORRECTION:

Actually, it is R2 that is at 919 while R1 is at 895/896