Jump to content



Photo

Best Chance for a Pullback


  • Please log in to reply
26 replies to this topic

#11 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 02:02 PM

 

 

I'm stubborn, and want my 6 points back from yesterday 

 

Short ES March 2667.4 Stop on HOD

Added 1/3 more @ 2668.4

 

took 1/3 off @ 2665.4 Stop on the rest @ 2670 This is now a free trade

 

Further 1/3 Profit banked @ 2661

 

I plan to cover and flip long around 2650 area


I'm not sure what my future holds... But I know who holds it.

#12 Iblayz

Iblayz

    Member

  • TT Patron+
  • 896 posts

Posted 14 December 2017 - 02:11 PM

FWIW, SPX cash will have to close at 2659.9 or lower to generate a short term sell signal via my spreadsheets. In view of the season and established targets, I would doubt a big pullback immediately. But, if that were to happen, it would, in my opinion and at a minimum, lead to some sideways up and down action  that could last a few days. Then again, it may be that the boys are positioned for more expiration profits with a lower open in the morning.

 

And in edit, two more things come to mind. One, the failure to close the daily at 2671 or above was a big deal and might be screaming for a retest of 2658.75. The second thing is that gap at the 2642 area. Maybe they gotta go back and pick up some players.

 

In order to be clear, I made reference to the cash index first. In the edit portion of the post I was referring to ESH8.



#13 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 02:31 PM

Covered the rest @ 2654

 

planning to switch long.

 

Always another day when a trade goes wrong :)


I'm not sure what my future holds... But I know who holds it.

#14 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 04:12 PM

Long @ close 2655

3 point stop


I'm not sure what my future holds... But I know who holds it.

#15 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 04:41 PM

Added 2653 Average 2654 March ES

Stop 2651


I'm not sure what my future holds... But I know who holds it.

#16 Iblayz

Iblayz

    Member

  • TT Patron+
  • 896 posts

Posted 14 December 2017 - 05:13 PM

Maybe the broker/dealers are positioned for an index open around 2646. That would correspond to the large open interest on both sides at SPY 265. Then it would be a question of what they went to do into the close.



#17 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 05:34 PM

Maybe the broker/dealers are positioned for an index open around 2646. That would correspond to the large open interest on both sides at SPY 265. Then it would be a question of what they went to do into the close.

 

thats the top of the gap.. night monkeys are welcome to stop me out. Its been a profitable day


Edited by salam, 14 December 2017 - 05:35 PM.

I'm not sure what my future holds... But I know who holds it.

#18 Iblayz

Iblayz

    Member

  • TT Patron+
  • 896 posts

Posted 14 December 2017 - 05:58 PM

 

Maybe the broker/dealers are positioned for an index open around 2646. That would correspond to the large open interest on both sides at SPY 265. Then it would be a question of what they went to do into the close.

 

thats the top of the gap.. night monkeys are welcome to stop me out. Its been a profitable day

 

 

Night monkeys are known for taking the extreme to the extreme as it relates to closes. I can see, however, the distinct possibility of a back-test of 2659.25....especially with the 60 minute positioned to turn from extreme oversold.



#19 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 06:16 PM

 

Maybe the broker/dealers are positioned for an index open around 2646. That would correspond to the large open interest on both sides at SPY 265. Then it would be a question of what they went to do into the close.

 
thats the top of the gap.. night monkeys are welcome to stop me out. Its been a profitable day
 
 
Night monkeys are known for taking the extreme to the extreme as it relates to closes. I can see, however, the distinct possibility of a back-test of 2659.25....especially with the 60 minute positioned to turn from extreme oversold.

Exactly! A good risk reward if this does transpire and I can flip short again on the am pop. If I get stopped out; I will renter long in the 2640/42 area
I'm not sure what my future holds... But I know who holds it.

#20 salam

salam

    Member

  • Traders-Talk User
  • 1,145 posts

Posted 14 December 2017 - 09:08 PM

Well.. I’ll sleep better now. Took 1/3 off @ 2656

Av Long is 2653with a 2 point stop. Another free trade.

I’ve set a limit order for half this position @ 2660. Will Let the Rest ride or get stopped out.

Feels like I’m overtrading a little; but I tend to trade more when I’m doing well and. Trade less when I’m not.

Failure to retake 2663 tomorrow keeps me ST bearish. Gnight from the UK
I'm not sure what my future holds... But I know who holds it.