Well not that eveything has moved to the level that we may get more of a pulldown: STO 2EMD @ 503.3 STOP: 504.3 Profit target: ? - too late. . .STOPPED ($200) . . .too bad (stop too tight) it immediately plummeted.
- the only reason I am staying out of this dump (that to me seems to have broken support built up over the last few days) is because Joe Baker's profit target for the ES (I addressed this in his thread, but no replies) is just 10 ES points away (with an extension <i>just</i> 10 more points away. To me that says - with volume light thus far - that we may make a sharp "V" reversal soon. "We shall see." p$
Volume is still tracking lower - but is picking up. I did add to my LONGS since I am phasing into these and this is a decent level to add <i>some</i>. I must be the only one buying, since not much is attracting interest these days.
Should you not rename your thread paper trading for a hobby? Did you not blow out your accounts on c2? Show a copy of a broker statement with the account number blacked out proving anything you are saying, otherwise you are just another scammer who is also scamming EliteTrader out of their advertising fee by creating this thread to generate business. I think the mod's should close down this thread for not paying for advertising.
Here is another trade I placed, but forgot to post: <b>3:45 pm EST</b> <b>Bought 400 shares of EXM (Excel Maritime Carriers, Ltd.) at $6.15 (ask). Sold (4) EXM Dec 5 (EKNLA) call option contracts at $1.65 (bid). Stop Loss:</b> $4.50</p> These are just random trades I make in my accounts, but if people here do not care for this I'll leave them out. I am only here to share ideas and thoughts with like-minded individuals that have similar goals. Again, I gave warning that my temperament will rub some the wrong way. Please let me know if there is a better forum for collaborating. But if this is because someone that had a bad trading day, I can ignore that too.p$
That is right. I have permission from Joe Baker <b>(TradePilotPro1)</b>. Pay$ http://www.elitetrader.com/vb/showthread.php?s=&threadid=130450&perpage=6&pagenumber=184
Well we said it would be interesting and that is what we got. Hmmphhh!! That SHORT 2EMD call that I took off early "would have been" monstrous had I went with the lower high and lower lows routine. So much for a "V" shaped end to the day. At least I hedged my accounts with more SHORT NQ contracts, since this market still does not want to prove itself (yet) to the upside. Most people like to "fade" the trend vs trying to profit from each up and down move along the way. My signal said be on the lookout for an new emerging MACRO uptrend, so I too don't want to try to profit from the retracements. But with the market volatility and the still terrible news coming out and God knows what BK, etc. may be out there...a new rally is definitely not "baked into the cake" and well, it would have been nice to just take off the LONGS at the 915 level and go SHORT to where we are now. Of course, hindsight is 20/20 and I am Ok with that. sooner or later we will get the new uptrend. The key is to be there to capture it - just like being there for the downtrend (Bear Market). Man, these overnight futures are all over the place.
Well this is a day-traders paradise. What will the market do today? I do not know, but those with skills and tools to "scalp" will no doubt know - and have a time of it. My take is that new index lows may not be likely, since and that Detroit will <i>eventually</i> get their money. But with all this volatility, I am not willing to go LONG even at these levels. I had thought we would perhaps get here and I could add another 1/3 of my LONG "swing" position. . .but I will now simply "wait-and-see". My drawdown is still negligible, since I put on NQ SHORTS to balance out my LONG. And so "we shall see". Just one distribution day does not kill the new rally attempt. Also Joe Baker's levels were made before the precipitous overnight fall and won't be of much use for me today. I also did not think the emerging rally attempt would be straight back up. Perhaps continuing to sell covered calls will still work. Have at it guys!
Pre-market the futures are now ALL OVER THE PLACE. (having fun guys) More news. . .<b>BULLETIN >> WHITE HOUSE CONSIDERS APPLYING TARP FUNDS TO AUTO-INDUSTRY BAILOUT</b> (gov. pricks)
Well here we are - watching the bickering between the UAW and Washington. Image is everything. FWIW - <b>TradePilotPro1's</b> will once again prove fruitful (I thought they came out too soon and would need to be recalculated to become useful) since, once again we are trading in no man's land (between the breakout and breakdown level). Trade with caution. . .it is Friday, lol. pay$