ES Monday 6-9-14


  • 3
  • BruceM
  • 9-Jun-2014 at 8:51 AM
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forgot to mention that I closed out Vix calls for an $80 loss per call on Friday. Planning to buy them again if we take out Fridays highs today.... I feel this market has some repair work ( back and fill) to do on the downside....specifically filling in the low volume area bewteen the two peaks shown on the weekly chart

here are my levels and plan - there was also no midpoint test of the Overnight range on Friday so I expect to see the O/N midpoint print today in RTH...hoping to get long and soon...I like after 9 a.m as I see players sometimes jump in
No video below? Try this link: monday.swf






  • 4
  • BruceM
  • 9-Jun-2014 at 9:15 AM
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one thing I should mention is that Friday had the smallest value area over the last 14 sessions ..we tend to trend away from Value areas that are less than 3 points.....we'll see today ...watch which side of Friday value we are on for clues
  • 3
  • BruceM
  • 9-Jun-2014 at 9:22 AM
  • Rep: 216k
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starting very small longs at the 46 print......I do not want time to build under 44 this morning and will be more aggressive when RTH opens..current O/N midpoint is 48.25 but that will change if we go lower in the last few minutes of the O/N session...better trades will be in RTH
  • 1
  • BruceM
  • 9-Jun-2014 at 9:35 AM
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came out heavy at On midpoint and not much to trail as runners are small....this trade was initiated in O/N so always much smaller for me ...the plus 4 puts us just slightly beyond the O/N high at new highs...we'll see...not feeling real lucky on this and don't trust that VA high and spike base
  • 1
  • apk781
  • 9-Jun-2014 at 9:36 AM
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nice read Bruce !
  • 3
  • BruceM
  • 9-Jun-2014 at 9:40 AM
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closed out at gap fill and Fridays highs...nothing working...probably it for me today...
  • 3
  • BruceM
  • 9-Jun-2014 at 9:41 AM
  • Rep: 216k
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thanks apk.....I really like that we opened lower when we expect the strength of friday to spill over into Monday....
  • 1
  • sharks57
  • 9-Jun-2014 at 9:45 AM
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Nice trade Bruce, you already crossed the finish line most of us are still stuck in the gate.
  • 1
  • PAUL9
  • 9-Jun-2014 at 10:01 AM
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excellent stuff, Bruce.
Thanks for taking the time to post.
  • 1
  • BruceM
  • 9-Jun-2014 at 2:50 PM
  • Rep: 216k
  • Posts: 19.9k
thanks to all who take the time to read or watch my ramble and give feedback....I always hope that it confirms your own stuff or gives some additional perspective..I'm not expecting much more on the downside today as we have traded on both sides of the IB and we know 44 - 46.50 is/was two possible support areas...value traders know that value is higher then friday still and would take time ( which we don't have enough of left today ) to change that...so they may try to buy it up again down here....
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