last week, and with INTEL coming out with their "mid-quarter" update this week, I would imagine that most traders and fund managers are taking a "wait and see" attitude until INTEL reports this update . . . In otherwords, who's going to be a hero and "bid" for stock in technology before this report? Not me.
alterego, Give me a break, ok? I realize the market can and will do anything it wants and anyone who makes a prediction that proves to become true had a 50/50 shot to begin with. There are entirely too many "on edge" people in here that take life much too seriously. aphie
I don't believe in crystal balls, but if someone had a gun to my head and said I had to pick long or short over the next few weeks I would not hesitate to say short. Look the charts. Brandon
Actually the es looks like a great short to me on the daily chart, we've broken the uptrend since the july lows and this week's sideways movement allows for a nice entry. Doesn't look like 900 means much at all -- 850 is looking very possible. About time ES plays catch-up with the nasdaq.
Dojibear An observation, if I may. Aphexcoil seems desperate not to be thought of as a newbie (witness 100+ posts in 2 weeks). I would suggest he gets what he deserves--starting a completely irrelevent (admittedly, my view only. Others may disagree) thread, and throwing blanket statements out there. Mind you, I guess I should show him a little respect---he is a senior member after all.
I must have been dreaming, didn't we break 900 already, thats what i thought... don't sweat the details just trade what your charts and your gut tell is you is right.
Well, thank god I'm still trading in a simulated account. Actually, this morning I checked the world markets and realized that there is more to trading futures than just guessing. Here is a true story about discipline. This morning, I got a signal from my system to short ES -- which I did at 898.75. The market then began a climb upwards towards 902 and slightly past. My system has a stop loss of 5 points. My emotions told me "Hey, maybe this is bottom, lets close this out now before it gets any worse" and then a little man on my shoulder said, "Stick to your system, kid!" So I stuck to my system and then the market quickly reversed, where I covered at 894.00. Just thought I'd share that little story of discipline with the rest of you. *ALWAYS STICK TO YOUR SYSTEM* aphie