Covered most of my position trade during the drop today (1037.50 to the 1034.50 area scale out) re-entered those positions during the end of the day area for the ES. So I am now sitting in ES SHORTS again overnight as a continual position trade. Numbers tomorrow should give us some action early...will see what happens. Good Fortunes! Chris
AMT: What indicators if any at all do you use in determining a position to hold overnight. Do you look at longer term charts (5 day, etc.) to get a feel for the next days trend?
That is about it with daily ES volume and basic T/A. I trade discretionary and I felt from what I saw Thursday we were due for a pullback in the markets. If you look at the ES "Daily" for Friday you will also see a good "double top" completion and this was my confirmation for holding the SHORT position. Hope this helps! Chris
closed all short positions when 9703 was violated in the cash djia on the upside. currently FLAT. will post channel levels next. best, surfer
the problem with super sofisticated quantum model of market is those damn quarks.. never know what they will do next
Oh, Longshot, in case you were wondering....like you did in the post you deleted...... From today's chat log: marketsurfer (Nov 17, 2003 10:25:52 AM) rogue, opinion please marketsurfer (Nov 17, 2003 10:25:59 AM) do you think i will be stopped out ? ARogueTrader (Nov 17, 2003 10:25:59 AM) me opinion? ARogueTrader (Nov 17, 2003 10:26:02 AM) yes marketsurfer (Nov 17, 2003 10:26:03 AM) yes marketsurfer (Nov 17, 2003 10:26:05 AM) thanks ARogueTrader (Nov 17, 2003 10:26:10 AM) too tight marketsurfer (Nov 17, 2003 10:26:12 AM) ok ARogueTrader (Nov 17, 2003 10:26:22 AM) especially given all the hoopla of the trade
the DJIA channel we will be trading is currently 9677--9753. long above, short below and FLAT in the channel. closed GMH long today, holding BBI short. thanks everyone for your support on my longer term outside of system trade--closed with profits today. best, surfer