ES Wednesday 11-12-14

Took a break YD..I officially have a teenager living in my house now......my oldest turned 13 yesterday.....here's how I see it...

Well, what do you know, my dumb ass got lucky!

I got out at 29.75, just ahead of the band @30

O/N midpoint would have been a better place to exit. Also S1 @ 32.5 and a HVN there too.

Quick question: Do you guys take both shorts and longs on a given day or simply pick a direction for the day and lean that way all day long?

Pick one direction, although open to change based on mo.

Originally posted by NewKid

Quick question: Do you guys take both shorts and longs on a given day or simply pick a direction for the day and lean that way all day long?

that me done for today at 32.50...just too close to that 33 and this is s1 for today

30 min VPOC down at 29.5 (also low of current VA). Will be interesting to see if they try to go get it.

I prefer to have a bias coming into the day but it is also is based on what levels hit first...since I am a mean reversion trader I am usually selling strength and buying weakness...( like todays gap down is automatic weakness)....I also like the O/N midpoint as that is a high probability....not as high as having an overnight high or low run out but it seems everyone tries to trade for those O/N highs and lows and they can kill ya.....in general the bias should be supported by a zone in my world...today we had the 28.50 and also the 24 .....so my two plans where to be a buyer at one of those two main areas..or both if the 28.50 would have given us the losing trade...


just try to make 1- 3 good trades in the first 90 minutes and call it a day.....and the most important thing is to not get rattled on the days that open and drive AWAY from your planned bias....take the loss or losses and consider it as part of doing business....every business needs to write off some losses..........like the other day I brought back some piece of garbage leaf blower to walmart....it was opened and had dirt and leaves all over it.......so I assume they take some kind of loss on my returning a crappy product....ok....soapbox is kicked aside...hope all have a great day from here .

Originally posted by NewKid

Quick question: Do you guys take both shorts and longs on a given day or simply pick a direction for the day and lean that way all day long?

Congratulations on the teenager. My 18-month old decided to not sleep too well last night so I had a long night. Guess you will have long nights for a different reason now :)

a day that opens and drives right back into the previous days range and value it is even more important than usual to watch those areas.......today we opened and so far have left a single print buying tail behind.....we also know that last weeks 4 pm close held the market and they are above last weeks highs again...so this is all bullish behaviour so far......sells would be much more aggressive...we also know that all time highs are still in the overnight ...30 - 31 is still critical to the bulls today

That was impressive. They actually went and got that 30 min VPOC. I did not think it would happen because of all the momentum