Im starting to fade the ES at 872...

Discussion in 'Trading' started by Port1385, Nov 25, 2008.

  1. [​IMG]
  2. Set the trailing stop tight at 1 point. Not much room to work, but I think its going to fall pretty quickly. Probably rebound, but we'll make money today. We are at 868 while I type this.
  3. I was holding several SHORT positions up to 863.50's yesterday in ET chat and caught the 30 point drop with a final scale out at 839.50's, so fading certain levels can be VERY effective in a BEAR market. I am going to SHORT again but I will wait until after the CASH session open as there is better levels above the current area......wait a bit would be my opinion.
  4. Got taken out, made a few points. Going to try to fade it right at the top again. Lets see if 872-875 holds. I'll fade it right at 872 again if I can.
  5. Was able to get a 869.50 entry just out of the open....will see what we get.
  6. Covered at 859.50.....that was a good move out of the open....not bad.
  7. Some very accurate hand calculations I've seen some make have 884.5 as an upper target and 887.75 for an extended.


    Either way, I have some SHORT "swing" contracts hedged with call options. They are now ITM so I am going to start peeling them off - replaced with OTM call contracts.

    We'll see how this fade goes.


  8. Sorry, I lost this thread and just found it now.

    I did a few shorts since my last post, got stopped out a few, but made some points. Need to loosen up the stops a bit.

    If 850 doesnt hold, then its going to fall hard. Thats what Im looking at now. Too much overhead resistance and lots more bad news out today.
  9. oatmeals


    850 is holding