Tuesday, August 9, 2011

Long ES at 1115

Will not defend below 1100, Looking for a surge upward following the initial sell reaction against the FOMC announcement...
Posted by Verde at 2:56 PM
Labels:

11 comments:

  1. VerdeAugust 9, 2011 at 3:19 PM

    Break-even stop now in place

    ReplyDelete
  2. VerdeAugust 9, 2011 at 4:14 PM

    Sell ES at 1171 for 56 points. Was nice to catch that move...

    Market still bullish in the short term. I expect a move over 1200, but I am just booking some profits on this one now. I will look to buy a dip depending on market action...

    ReplyDelete
  3. VerdeAugust 9, 2011 at 4:42 PM

    Just placed a limit order to buy ES again at 1157 with an initial target at 1202 and a stop at 1145. Have a nice evening...

    ReplyDelete
  4. VerdeAugust 10, 2011 at 8:54 AM

    Out at 1157 for a scratch, I will consider buying at a lower price. Waiting to see how the morning unfolds.

    I lost confidence in this trade (that filled overnight) because I would have preferred a gap up this morning to maintain the enthusiasm following yesterday's surge. I still like support at 1148-1152...

    ReplyDelete
  5. VerdeAugust 10, 2011 at 8:58 AM

    I'm long ES again at 1153

    ReplyDelete
  6. VerdeAugust 10, 2011 at 9:16 AM

    Still holding the long, I don't believe markets are going to sell all the way back down through yesterday's gains... But we'll see how it plays out...

    ReplyDelete
  7. VerdeAugust 10, 2011 at 3:47 PM

    Stop in now at 1115

    ReplyDelete
  8. VerdeAugust 10, 2011 at 4:00 PM

    Buy back now at 1116

    ReplyDelete
  9. VerdeAugust 10, 2011 at 4:02 PM

    No defense on the re-entry of this position

    ReplyDelete
  10. VerdeAugust 10, 2011 at 4:21 PM

    As pretty as the trade was yesterday, the running all the way back down to my entry wasn't so sweet. There was a good signal to exit the trade after the price reversed off 1157.25 this afternoon. Unfortunately I was away from my trading desk at the time. That was a clear signal to exit. Anyway, still positive overall and continue to look for a potential move higher. Today's action however, makes that scenario far less likely, at least in the immediate-term. I am neutral at the moment. Will not defend this current position below my new entry of 1116.

    ReplyDelete
  11. VerdeAugust 10, 2011 at 4:38 PM

    When I say neutral, that means right at this moment. Overall I am bearish. I expect lower lows, though we could see distribution. Those are the two scenarios, will the lows break down or will we distribute in this large trading range between 1100 and 1200... I hold my long with a break-even stop. I will play the distribution-range scenario for now, but I won't defend my long.

    ReplyDelete

Subscribe to: Post Comments (Atom)