Still holding ES short from last week at 1435.00. Wide stop currently of about 20 points. The trade started well, but since has rallied to give me a small loss right now.
Today SPX punched through to new intraday highs, unconfirmed by the March ES futures. Maybe that happens later, but for now that's a poor sign.
Plenty of divergence up here also, so let's see what develops.
IndexTrader
Still Holding ES Short
Started by
IndexTrader
, Jan 16 2007 02:02 PM
5 replies to this topic
#2
Wallcrawler
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Posted 16 January 2007 - 02:19 PM
Still holding ES short from last week at 1435.00. Wide stop currently of about 20 points. The trade started well, but since has rallied to give me a small loss right now.
Today SPX punched through to new intraday highs, unconfirmed by the March ES futures. Maybe that happens later, but for now that's a poor sign.
Plenty of divergence up here also, so let's see what develops.
IndexTrader
You should be ok (with the wide stop that you have) Just have to have the patience to wait it out... I think one more push up and... then decline. I may go for a quick LONG here ( 2 to 4 points I would be happy)... shall see!!!! - WC
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous
#3
denleo
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Posted 16 January 2007 - 02:30 PM
I think it is a pretty good position. I just shorted them at 1438. I thought Spooz would try 1445 first (maybe later), then a little correction.
Denleo
#4
slatedrake
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Posted 16 January 2007 - 03:01 PM
I think it is a pretty good position. I just shorted them at 1438. I thought Spooz would try 1445 first (maybe later), then a little correction.
Denleo
Nice to see you posting again Denleo....I still remember all those long calls you correctly made as we marched up this Fall...
Before you start trading get your brain around risk control. Know how much leverage you're using and know when to go to cash if you're wrong.
#5
jawndissedi
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Posted 16 January 2007 - 03:58 PM
I think you're betting on the wrong horse. RUT is outperforming on the downside, as is MID -- and both are likely to continue to do so.
Da nile is more than a river in Egypt.
#6
IndexTrader
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Posted 16 January 2007 - 04:54 PM
I think you're betting on the wrong horse. RUT is outperforming on the downside, as is MID -- and both are likely to continue to do so.
I generally trade the ES futures. The liquidity is unmatched....which I prefer. I use the other indices as indicators if you will.
That said, I think the Russell 2000 outperformed somewhat on the way up...the MID underperformed a little.
You may well be right, but again, I always prefer liquidity, and so that represents the way I choose.
IT
