Whats wrong with the last couple of days, et? I seem to remember you saying something about a good trader being able to make money under any conditions. In the thread where you were going to post your trades realtime there was always some excuse why you couldnt do it. How about getting on with it this time or find another way to amuse yourself. Deleting a post after a couple hours is not possible is it? I thought there was a 15 or 30 minute time limit on deletions.
There is a 60 minute maximum "window" where you may delete your own post. After that, it can only be deleted by the moderator of that forum or Baron. Anyway, let's keep this thread on topic. If egotraitor wants to post a journal, he is more than welcome. But I don't want to continue page after page with discussions about why he should, why he shouldn't, complaining about lack of immediate response to a post, etc. etc. etc. Please, no more comments until egotraitor starts actually posting a journal. Or not. Thanks guys.
Tomorrow night I will offer a brief synopsis of my day, ( I will be out most of the evening on Monday). However for tomorrow I would urge you my brothers to be very cautious of the ES breakdown below 896.50 ( 34 day MA). This will be VERY interesting area tomorrow. I think electable shorts in that area can have a tight stop at 899.00. I won't be surprised if this stuff never trades 900 again. Choppiness is causing a lot of convergance of hourly MA's in this zone. IMO lots of retail buying will come in post 9/11, those buyers will be wrong, though they may provide a relief rally. Further talk or actual action on Iraq, catalyst for poss. crash. Look to GE, IBM, MSFT for leadership. All 3 are stalling and GE looks sick. Once again though any upside penetration of Fridays highs is to be considered constructive and I will buy into that stregnth. I have seen many occasions of bullish news like Fridays employment numbers, not effect the market as much as they should, and bring in sellers. Then on Monday there is upside continuation, trapping those new shorts. I'll be on guard against that. With the market already "low", I don't want to get stuck down here, but I think there is a wild card chance of ugliness at any time.
ET - I'm looking forward to your posts. I was also interested in your last threads - keep it coming. Some of us don't know everything and am looking to learn new ideas.
While we're wait for et's synopsis of his day I will give you a synopsis of mine: AAAARRRRRRGGGGGGHHHHHHHHHHH !!!!!! @#^**(#@$%*(###++*&(....................grrrrr.
my trading is HALTED until i get something going consistently..i've wasted enough money over the years.
Looks Easier(no pun intended) than it was. As iI stated last night, i felt Fridays failure to close on highs, would bring in AM sellers. i got short at 887.00 a point below the overnight low of 888.00. The first half hour felt like the kind of trade you get before a 8:00 number. Shitty and choppy indeed. All 3 stocks I mentioned last night, IBM, GE, and MSFT confirmed early index weakness. However the stuff just wouldn't break out. Now Ego, likes Fib numbers for MA's. 5,8.13,21,34, and 55 are all in my arsenal, on 5min, 60min, and daily. i don't care about 1-3 min timeframes and I prefer running my stuff vs. cash instead of futures for better continuity. Basis changes(like roll over, mess Ego up). When you're getting sideways stuff like this AM, look to a longer MA. A 5 period on a 5 min is useless in this kinda early chop. I go to a 21 and 34 and wait. If you all can reference charts of IBM, GE, and MSFT, set a 8EMA, and 34SMA, and peek at the action at 11:05am. Even though the index hadn't yet "broken out" to the upside yet, the action in those 3 bell weathers forced me into covering. Unfortunately I HATE initiating at that TOD so I didn't flip. But as the market continued trending above these MA's and then above hourly MA's at 891.00 I knew not to even consider selling, even at 996.00, an area I thought crucial ( and a place ES did pause for an hour or so)Bottom line even though I made a couple of ticks today, I let my OPINION, cost me what was as clean a set up as we've seen in several days! Ego should listen more to Permabull's broker friend. In any case rally carried into complete .3815 retracement of 8/22- 9/05 downmove. Fibs aren't enough to actually get me in a trade but Ego sure wants to know where the levels are, cause their better then random numbers. I mean todays highs were not made there by accident. So disappointment, but at least as a bear this morning I didn't get stung.