Snugging up stops on ES short from 1393.
1384 is a roundtrip (1384 - 1393 -1384) on the day and puts ES back on VST/ST support. If the bears can't crack 1384 then it may go back the other way. On the other hand--if 1384 fails after this profit taking is over then bears might be in for a little dip into the honey jar.
Stop/reverse lines on ES:
VST = 1385
ST = 1384
IT = 1421
LT = 1309
ES
Started by
swinger
, May 09 2008 12:47 PM
3 replies to this topic
#1
Posted 09 May 2008 - 12:47 PM
#2
Posted 09 May 2008 - 12:58 PM
I'm probably getting too squiggly here...but one more low, day session..could test the globex low...1382.50 ish SPX will prove interesting if seen.....that's "IF" we need another low
#3
Posted 09 May 2008 - 01:22 PM
Well, right or wrong, just closed out 1/2 my shorts from this time last Friday.... weekend beer money.
Hold down the fort......
#4
Posted 09 May 2008 - 01:37 PM
I'm probably getting too squiggly here...but one more low, day session..could test the globex low...1382.50 ish SPX will prove interesting if seen.....that's "IF" we need another low
I dunno, maybe the boys are nice and comfy in here and happy to just run out the clock. I decided to hold through the covering off 1384 to give the short side a chance to crack that support--but got stopped out with profit.
Was kinda sloppy trading for me to let those bonus points slip away and miss getting reestablished on the other side for the possible ride back up--but that's the way it goes sometimes. Had a pretty good day, though, catching 1 1/2 of the roundtrip--so can't complain too much.
Probably should stick around for the close--but my eyes have glazed over from all the excitement and the pool beckons..
Have a nice weekend all.










