ES-8-19-08


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  • koolblue
  • 19-Aug-2008 at 8:26 AM
  • Rep: 48.6k
  • Posts: 16k
Short 2 es from 1274.75.Good morning all,Well, here we go again!
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  • SPQR
  • 19-Aug-2008 at 9:19 AM
  • Rep: 0
  • Posts: 519
I'm going to wait for the opening range. Prices are trying to trade beneathe oversold levels of the envelope, it's going nowhere with oversold divergence in the stochastic, and the trendline is almost buying resistance. Something's got to give and I'm not going to be on the wrong end of it. I wont be on any end of it.
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  • CharterJoe
  • 19-Aug-2008 at 9:23 AM
  • Rep: 4,475
  • Posts: 2,352
One thing you have to keep in mind as well that these osc. have to be taken with a grain of salt at times because we have had the tightest range in a while which will tend to throw off the osc. We are going to gap below a 6day bracketed market in the ES, thats bound to give oversold signals at first.
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  • CharterJoe
  • 19-Aug-2008 at 9:25 AM
  • Rep: 4,475
  • Posts: 2,352
Seems that if the envelope wasn't there we'ed be a lot lower, someone with some big money defently using these channles. Noticed how it followed the lower band down yesterday making only 2-3 point bounces...
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  • BruceM
  • 19-Aug-2008 at 9:28 AM
  • Rep: 216k
  • Posts: 19.9k
a couple of nice little gaps in the overnight data...75 being the first when the reports hit...FYIW
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  • koolblue
  • 19-Aug-2008 at 9:38 AM
  • Rep: 48.6k
  • Posts: 16k
might be selling 1276-77 area
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  • BruceM
  • 19-Aug-2008 at 9:57 AM
  • Rep: 216k
  • Posts: 19.9k
my long came at 68.75 today....nice volume spike...
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  • BruceM
  • 19-Aug-2008 at 10:06 AM
  • Rep: 216k
  • Posts: 19.9k
my concern is that 64 area form last week...strong magnet and that would push us 5 points below s1...so that may be the better long....
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  • BruceM
  • 19-Aug-2008 at 10:10 AM
  • Rep: 216k
  • Posts: 19.9k
additional concern is that the high volume came in on the up bar....I would prefer to see it on a down bar for a long trade....
  • 0
  • SPQR
  • 19-Aug-2008 at 10:12 AM
  • Rep: 0
  • Posts: 519
One bull trendline is lost. Possible bounce at 65.50 from the entire bull run line.

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  • 0
  • koolblue
  • 19-Aug-2008 at 10:24 AM
  • Rep: 48.6k
  • Posts: 16k
Selling two es at 1268.75 if we get there soon.
  • 0
  • BruceM
  • 19-Aug-2008 at 5:57 PM
  • Rep: 216k
  • Posts: 19.9k
we open in the 71 area and close in the 68.50 area...not much selling in the day session...interesting indeed....
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