IF ES trades above 1378 before Thanksgiving I will leave ET for a week!

Discussion in 'Trading' started by iceman1, Oct 17, 2006.

  1. I believe ES is poised to correct. But I take my hat off to those that stay long at this level. Of course having lived through the 80s, and then the 90s bubble I have learned to never say never to any scenario so perhaps it trades to 1400. :eek:

    I just believe the better trade on ES at this juncture is to the downside. Famous last words of many the past months, eh?!!

  2. Since thanksgiving was a week ago it is not much of a prediction.
  3. Tums


    a repeated joke is a stale joke.
  4. ==============

    Yes ,its correcting premarket all ready, short looks better than long, first 2 days of OCT nice polar bear move.

    And OCT, especially very late OCT-JAN tends to be strong long;
    especially NasdaQQQ

    :cool: Historically, may be a bit early too get much long here , so not, but 4th quarter longs have been kind & profitable in past, especially NasdaQQQ. Wisdom is profitable to direct
  5. i observed some large dumping of futures near yesterday's close. however being expiry it may take all week for ES top to be firmed but I "think" we have some downside potential from this price. as you note Q4 is the wild card; and the public is just beginning to take notice.

    maybe we are going to see BII (bubble# 2)

    question is how tradeable is the downside i.e. R/R
  6. A whole week without iceman1 :eek:
  7. ice,

    looks like limited downside reward as NDX bottom of channel is around 1668 (cash).........im waiting til then as entry....going long unless breaks through :p
  8. Maverick74


    Well, we traded 1380.25 today so I guess we get another failed top call. I find these threads kind of funny especially after we have traded through about 20 of these thread levels. LOL.

  9. go figure! let's see if it can close above 1378 before T-day!
  10. anecdotally a tough time to short NAZ in Q4

    so maybe "this time will be different"

    #10     Oct 18, 2006