So, was today the reversal on the S & P?

Discussion in 'Trading' started by LT701, Sep 21, 2006.

  1. LT701


    a little over one point away

    you guys should quit clowning, this is paying
    #11     Sep 22, 2006
  2. Been short the ES from 26.5, but about ready to cover.
    #12     Sep 22, 2006
  3. LT701


    i got out es at 1322, from 1327 - trying to stick with 'the meat of the move', rather than trying to be perfect - i want to be fully objective with what i see next - easiest to do when i'm flat

    now, i watch

    how does it react to the 20 ma?, is now my question
    #13     Sep 22, 2006
  4. Out at 22 as well. Looking to re-short on any significant bounce
    #14     Sep 22, 2006
  5. sht since 1337.25 (stp was 41.25) same with most european indices also....though have to say only just still in european by 3-5 ticks yesterday!!!

    Housing Monday will cement the move and change of stop S&P Z 1311

    good trading!
    #15     Sep 22, 2006
  6. LT701


    i actually took a 1 contract boredom long (at 22.5), as it's at the bottom of the 5 minute chart trend channel, i just didnt think it had the steam to make a real test of the 20 ma at that point of the channel

    it still would have been better form to be flat

    OT: $OSX (oil services) is on the 20 month ma today, they almost never break it in the first try - i dont play the intermarket game, but an oil bottom could be consistent with an S & P top

    nonetheless, i will observe, not predict
    #16     Sep 22, 2006
  7. LT701


    out the boredom long for 23.25 - approaching the 34 ema on the 5 minute chart

    back to watching the 20 day ma
    #17     Sep 22, 2006
  8. I call those my lunch money trades
    #18     Sep 22, 2006
  9. LT701


    they're not without hazzard, as the mind can get wrapped up in even small trades, when the focus should be on a bigger picture
    #19     Sep 22, 2006
  10. Yep. Done that. Been dinking around with a small trade only to get distracted and miss a regular system trade.

    PS trying to get a short off at 24.50 (lunch money), but no luck
    #20     Sep 22, 2006