As long as ES open above 50 and on its way down in RTH do not break prev day low. We may get high 60s and low 70s in 1 go. It is a potential w. spring on daily. Must close strong to confirm. If we do get that, the bounce of 2 days can go to high 80s. Good luck.
I thought a week is not completed until Friday close. Using an incomplete bar for analysis is okay as long as you know its purpose is for what-if analysis only.
That seems managable. Of course, that assumes no more adds. Have you run your max loss assumptions for a "full" position? I'd be shocked if we saw a test of 1200 before a bounce back to 1285+, but I also thought we'd see a tradable 2-3 day bounce after the debt-deal announcement.
08-02-11 08:38 AM 08-01-11 10:12 AM 07-28-11 07:11 PM 07-26-11 08:42 AM 07-20-11 07:23 AM 07-14-11 06:19 PM 07-11-11 08:29 AM 07-08-11 07:51 AM 06-30-11 09:47 AM Currently short the Sep ES contract at 1314.50. Stop is 1372.50 --Maintaining short here. Stop remains the same. --Maintaining short here 7/11/11. Stop remains the same --Maintaining short here 7/14/11. Stop remains the same (outside the noise) --Maintaining short here 7/20/11. Stop remains the same --Stop remains the same 7/26/11 --Stop continues here 7/28/11 --Don't see a reason yet to change stop 8/01/11. Staying short --Will be looking very soon to lower the protective buy stop. Keeping it the same today however. 8/02/11. --Staying short here with the same stop. 8/03/11.
I placed an order to add 1 more at 1239 since I think there is a good chance it gets hit today. Adds at 1215.5 will be reduced to 3 from 4. BE on current open position is at 1266.70 holding 6 longs.