Profit take +20 points of ES from 1205 lows Mkt peetering out... volume is waning. Fade the chop up here imho... no crash scenario... just lots of quick tanks and slow crawls up kinda day
Hope you all made money on this call The day looks to play out very interesting so be on guard for quick spikes and quick pukes. DONT GET GREEDY You can thank me later.
Congrats pal, 20 points is a nice take for the day!!! I'm down 2, waiting a while, before getting back in.
Ok there's the 25 point ES move up. Time to start considering fading this as this original thread title suggested
Yep, can't be scared to buy these but overall market sentiment today is sour. Short position coming in here with a potential 25 point ES drop. As mentioned in first post, 1230 will likely be heavily shorted.
I have to agree with you here. Looks like the ES is setting up for an unbelievable short test of the current intraday low.
10:52 EST Lehman trading a measily 18 cents and decimalized to death ES continues to chop around 1230 area as the "fade the gap" premise continues to hold. If you are a scalper, lots of 5 point plays up and down here for the next hour. Taking 1235 short here and looking for 10 points down