ES Journal Archive (2011)

Short 17 target 13.25. no stop will add at 20

 

Not in ES/SPY just some equities.

If we hit 1320, buy every retracement and hold til 4.

 

Retracement ? Whats that.


Also, based upon the volume pattern on the 15 min bars, we might be in a little short squeeze here above 1314 and the pivot. Just an observation

 

see if this holds, so far we are in a trend day

 

It seems there is zero downside risk, I can't believe I just said that.

 

I remember seeing this type of action back in 2003, the VIX would gap up every Monday along side stock indexes gapping up on the open. This keeps the VIX from falling to low as to set off alarm bells.

 

Last night when ES was 1306.5

First was a hunch and does not bode well for shorts




http://www.snopes.com/business/bank/superbowl.asp



Second part was from the inverted head and shoulders pattern which projected to 1321 cash








and what is the coincidence that 1321 is a R10 level as well ?




:eek:

 

The channel off 11/30/10-01/31/11 lows invites a target of 1325-1330. Upper Keltner just now overshot.

OK, back to oil...

 

Offers being pulled, then a light tap on the higher offer and up it goes, tap tap tap presto a new 52 week high.

Volume means nothing when you have a central bank hell bent on creating inflation. Everything that once meant something in the markets is now meaningless.

Hell a cave man could make money in this market, I really mean that.