so much for last hour profit taking Damn these longs are relentless. Shorted 1338.75 stop @1340.25. Was hoping they wouldnt create the V reversal and creep up. Was assuming the longs would take profits during the long weekend (for some). Guess I'm wrong. Not stopped out yet though, target 1335.50
I always thought this journal had a wealth of trading information. However, what has been demonstrated in the past months is nothing short of phenomenal. Readers, we have witnessed the consequences and the results of fading strong trends in full color. What makes it even more impressive is the amount of old timers that have come to battle the trend and get defeated sometimes even before the fight even started! Not the doings of one trader but quite the load have come and perished, won't mention names to avoid further embarrassment, I think the poor blokes have had enough humiliation. A notable thing has been the futile resistance theories when calling tops, almost like kids drawing lines randomly on the charts only for these lines to be completely violated in the next trading day, truly sensational destruction of technical analysis. Hard to beat this testament of what not to do in a strong trending enviornment, a priceless documentary, thank you ET for making it possible. I remain bullish and will remain bullish until price says otherwise any other market bias is a sign of weakness and inexperience.
in a bull market ,everyone's suddenly a genius, talk to a fool as long as you will, he's of the same opinion still,,,like a broken record
My upside directional bias has been more than evident for a very long time, goes back months and months in this journal. Everytime the market retraced and you bears called death, I said, buy the dip, trend is not changing. It is true that I'm not participating in the live calling like you do, I only offer market commentary, and 100% of the time it has been buy the retracements, very strong uptrend, don't fade it, don't call tops, the usual. You on the other hand have been a permabear averaging down lunatic and you dare mock me ? Denial, I suppose. Speaking of geniuses adding to losers to make money is not exactly the equivalent of the cure for cancer in trading.
Sold the puts from 11.00 (33.00 per); so 1303 is b/e. I made 8 in ES trading around the position, but this combo trade is down 39. I'll sell some March puts come Monday if we trade 35-38.