S&P...1385.00 finally got there (to the tick)

Discussion in 'Trading' started by TradEStar, Jan 9, 2008.

  1. Well I covered some longer term Short ES positions today as we hit the 1385.00 level. We were able to trade down to 1385.00 on the ES much faster than I thought..thought we may not get down there until late Jan pre-Fed.

    Now what...LOL! :D
  2. You did very well! Congratz :)

    Why did you have 1385 as target?
  3. Were you using the BullNbear method of support and resistance?
  4. Nope..my own combination of market profile and long term T/A.
  5. That means the market will move up from here as you call it? Otherwise you won't be out since its too risky, YES?

    You are probably very smart...
  6. Area that I picked after analizing the August and Feb lows mixed with market profile levels and long term T/A that I use to see what the big picture looks like.

    BTW, one heck of a nice intraday Long trade off the 1385's :)

  7. That Technical Analysis is correct. Market should rebound from here or we go down and its all over in the bear territory.

    Mostly like GOLDMAN SACHS will switch their trading programs soon and come up with nice pleasing lullaby for all of us.
  8. I am just going to play intra-day for the ES from here until we get closer to the Fed meeting (neutral for long term ES plays). We have to see if the market can hold the 1385 level..if we don't than things could go into a multi-day massive liquidation sell off. :eek:
  9. Plunge Protection Team/ may not let the markets go down further. This looks like a bottom to me in todays trading. We up now.
  10. balda


    I think S&P need to break august lows to provide enough liquidity to close shorts for high rollers. Only than we'll get a good bounce just to get short again.
    #10     Jan 9, 2008