Holding Short ES
#1
Posted 22 January 2007 - 12:26 PM
#2
Posted 22 January 2007 - 12:34 PM
very nice trading, letting your winners run, i should do that more often...Still holding short ES from 1435.00. I'm not seeing any particular reason to be long here. Just to summarize, we broke out on the NDX...and failed. We broke out on the SPX, unconfirmed by futures...and failed. Lack of confirmation by various momentum indicators, like Summation Index for instance.
A rally wouldn't surprise me here....just as it wouldn't have surprised me Friday. But in my opinion there is potential on the downside. Right now, I think a test of the early January lows seems possible...around the 1412 area basis ES, 1405 SPX.
Still carrying wide stop.
IndexTrader
#3
Posted 22 January 2007 - 12:47 PM
#4
Posted 22 January 2007 - 01:46 PM
#5
Posted 22 January 2007 - 02:56 PM