ES short term trading 5-6-10

Most of these are being generated from the weekly chart..

57.50 - O/N low , yesterdays afternoon rally point

62-64 - LTP in ON, VA low,PP and POCP

70 - all that volume and VA high

75 - 77 air pocket and R1 ...Magnet ******

85 - 87.50 air pocket and r2

94 - 98 combination of LTP's and HTP



****Gap at 66.25 in O/N data so those reading get short up here at 68.50...most still sleeping so you'll miss this one

1134 should make a good short

1139 air should be the ultimate goal I hope

Well, have to sit and watch.. this is one of those times to stay out ,imo

Her it comes folks Its pay back time

Bruce,
thanks for your comment about the 1 mins,

the only, the absolutely only thing I expected intraday today was a bounce to test the Low of the previous day. After that occurred I left my machines. Thank god.

I have a tree service here taking down a couple of trees and I watched them and wheel barrowed the logs to my woodpile

You never know when a day like this will unfold, and I am glad I wasn't at the computers after 12:30EDT.

Unreal, look at the volume for the ES, I see 4.6 million.

Big capitulation in stocks, too.

I don't know what to make of it.

Hope everyone got that short at 1125

great odds after a minus 5- 6% daily drop that we recover at least 1/2 of that in the next week...who is our stats person here


as far as I can tell all one minute air pockets got filled back in...lots of lessons here today on many levels

Always remember as Bruce said 00/25/50/75 are key numbers

that would be cool..

Originally posted by ak1

1139 air should be the ultimate goal I hope

This isn't meant to insult any particular method and hopefully the newbie or casual reader will realize that no method is perfect. When we trend we can throw everything out the window:

and that includes...

Kools tools
Bruce'; Air pockets
Monkey lines
Fibs
pivots
high and lows
Gann
Market profile
Vwap

anything you can think of..

Hopefully the folks who sit back and read these posts realize that you need some form of money management or experience to know when to say "Uncle"

This is one of the reasons I go lighter in the afternoon...the market trends better...rarely do you see this in the morning...except for like a 9/11 situation..etc...but it does happen

Anyway I'm sitting back with a glass of Johnny walker Red and thanking the good god above for key numbers and just plain dumb luck....

I'm glad I was here to experience that!

The real cause(?) for the market crash on May 06, 2010...

Read at Reuters..."Exclusive: Waddell is mystery trader in market plunge"
http://www.reuters.com/article/idUSTRE64D42W20100514