These people who are shorting ES tonight ...

Discussion in 'Index Futures' started by aphexcoil, Sep 2, 2002.

  1. 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.
    #21     Sep 2, 2002
  2. 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.

    #22     Sep 3, 2002
  3. Brandonf

    Brandonf ET Sponsor

    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.

    #23     Sep 3, 2002
  4. 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.
    #24     Sep 3, 2002
  5. Hendrix


    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.
    #25     Sep 3, 2002
  6. juice


    I must have been dreaming, didn't we break 900 already, :confused: thats what i thought... don't sweat the details just trade what your charts and your gut tell is you is right.
    #26     Sep 3, 2002

  7. maybe you'd better wait a bit longer before you play "this future's game". lol
    #27     Sep 3, 2002
  8. Superego, is this you?
    #28     Sep 3, 2002
  9. Ha ha ha....

    I know, it's too early to be counting my eggs, but I couldn't resist! :D
    #29     Sep 3, 2002
  10. 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.


    #30     Sep 3, 2002