Tuesday, February 1, 2011

ES Retraces Almost 78.6% Back Up to the Highs From Friday

Short ES at 1289.75
Posted by Verde at 8:17 AM

13 comments:

  1. VerdeFebruary 1, 2011 at 8:29 AM

    Got aggressive on this short as market is very bullish here ahead of the open. I like resistance levels on the ES between 1290 and 1293 this morning, wasn't afraid to get in this trade quickly...

    ReplyDelete
  2. VerdeFebruary 1, 2011 at 9:01 AM

    I am holding this position as a swing short. I continue to actively day trade in a separate account. Will comment here with any updates to this trade

    ReplyDelete
  3. VerdeFebruary 1, 2011 at 10:42 AM

    The continued move up this morning is not what I wanted, but it is not surprising either. Still very typical of a topping formation. I have no concern about this position...

    ReplyDelete
  4. VerdeFebruary 1, 2011 at 3:13 PM

    If you'd like to be notified by email as to when I comment on my next move regarding this trade, click on the "Subscribe by email" link below.

    ReplyDelete
  5. VerdeFebruary 7, 2011 at 11:12 AM

    Managing a strategy to close this position now. Will consider exiting this trade on next down-tick to 1301-1306.

    ReplyDelete
  6. VerdeFebruary 11, 2011 at 1:04 PM

    Add 1 contract at 1323.75 for full position.
    Average price of entry now 1306.75.

    ReplyDelete
  7. VerdeFebruary 22, 2011 at 9:40 PM

    Still holding. Consider taking half off the table at 1302-1303

    ReplyDelete
  8. VerdeFebruary 23, 2011 at 1:25 PM

    Cover 1 contract at 1299.50. Continue to hold 1 contract short. Entry now at 1313.75.

    ReplyDelete
  9. VerdeMarch 11, 2011 at 12:47 PM

    Hard stop now on this swing short position at 1313.

    ReplyDelete
  10. VerdeMarch 11, 2011 at 1:00 PM

    Still holding ESH11, the March contract (so price is 5 points higher than the June contract. Will update when I roll over to the ESM11 (June) contract...

    ReplyDelete
  11. VerdeMarch 11, 2011 at 2:43 PM

    I want to clarify my Hard Stop on the ESH11 Short. The Stop is not really a hard stop. If ES closes the day above 1313, I would exit the short. If ES trades up there b4 end of close, I will not exit the position. In any case. I will post if I exit...

    ReplyDelete
  12. VerdeMarch 18, 2011 at 12:04 PM

    Update: Rolled Over to the ESM11 June contract last night. The June contract was trading 5 points lower which readjusts my entry to 1308.75.

    Continue to hold this short position. Break-even stop in place.

    ReplyDelete
  13. VerdeMarch 25, 2011 at 9:22 AM

    I am now out of this short position. I actually expect a move down now after the ES has traded up 70+ points since the lows of last week, but I had to stick to the plan on this swing short. And the plan said exit on a retrace back to my entry after being in the money. That doesn't mean I can't enter a new short position...

    ReplyDelete

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