Cover ES @ 1120..+6

That looks about all were going to get with this volume. Take what you can til volume gets back up to normal.

SHORT ES 1126

Good area for a short! Usual take 10 points if we get it. Might need to watch globex as well as we might not get it intraday.

Well we won some and now covering

There was a low print 1085 for all to cover this swing. I personally thought more would happen on breaking 1080 area. I think we now can look for higher prices to short into again. For now we wait.

1111 still in play

We have been sitting in this short for quite a while. Its been profitable to hold as its a wall of resistance. Today we popped just above to 1117 and down we go again. I like the downside pressure from here as this should be a good pullback into the 1050-60 area. If your not short consider selling rallies from here.

Short ES @1111

Great spot to enter back into shorts. Glad we waited for this rally and are now able to short at a much higher level.


Update....As per rules the market dropped for us the usual +10 points Tuesday morning, so profits on some could be taken. Looks like one possible more surge up to add shorts into this week. Keep posted!

Light Volume , we wait!

This weeks volume has been incredibly light and I'm feeling a need to wait to position again on the short side. This rally should be a reminder too all of why traders need to take profits along the way.The 1091 top entry and covering in the low 1030's has me going to remain neutral on this market til I get a better read on things as it is lacking participation with the holiday Wednesday and light float up the last few days.

Officially I was stopped out on a close above 1065 on last 1/3 position last week.
Glad we booked 3/4 of position on way down!

I really like Tim Knight's video tonight as he is really doing a great job of walking us through the mental struggle of shorting this market.

http://www.slopeofhope.com/

Took some off as always +10-15 points!

Update: as always we take a little of after a +10 point drop this morning . The lows were 1054 area. I know a few of you were discipline and booked 10-15 points. I'm keeping some size on to stay the course on this short as we might need to add in the 1070's for what looks to me like a final push and eventual drop below 1030 lows this week and challenge the 1020's.

Adding some Shorts here

Just added a little size back short here @ the 1059-60 area. I'm thinking a rollover in the afternoon. Possible the 1-1:30et time frame.

Very nice! ...Taking more Profits!

Taking more off here on our ES short , as we must be discipline @ 1047.50 for +40.
XOM has earnings tomorrow and the INDU is down only 50 or so points. Have a small 1/3rd short position left. Great stuff!

Lets take some ES off here +23

Cover some contracts @ 1064 area...+ 23 total from the average in at 1084 and 1091 area. I'm keeping a modest position still short if as this could be something bigger but if its not then who cares we banked the move!

Very Nice Push!

The late day sell off was a welcomed surprise but honestly how many days in a row do we continue up without a correction. I am very happy with the 1084 and then adding at 1091 for a swing short of what I'm thinking of at least 1058-60 area for taking some profits. Good Luck to all that held through the noise of last week or so.

Adding here @ 1091

Very good area!

Short ES @ 1084.50

Taking a short position.

Adding some ES short Here 1055

Good area again to inch in as we are close IMHO...Watch the financials for hints of a rollover.

Update 3ET..There's the +10 point drop I was hoping for. Took some contracts off on that but we are very close in terms of cycle dates to a huge correction happening.

Take a look at FAZ and SRS very good risk reward and charts. Picked up some of each today.
Long FAZ @ 21 and SRS @ 10

Lets just wait

We had the expected bounce I was talking about last week. The indicators I follow were a bit too oversold to have us collapse lower. Today the financials upgraded each other and we have a strong financial led rally with GS leading the charge. I like another day of upside where I will be adding back short size again. As for today, the volume and lower USD will support the markets into the close. Lets be patient here.

Lets Be Disipline

Taking a little off here again as we retraced lower again off the 1065 short.@ 1033 for +32points. Also covered some SPY @ 103.50 for +2.8 .

Staying the course but crazy not to take some off. Hope all of you made a ton on these trades!

Wednesday thoughts

The 1065 Es short was greeted with a nice +20 point drop this morning. I had some emails from a ton of you that took the profits. Great trade as it seems to be the usual drill into the end of the month/quarter as I talked about yesterday where they just don't make it easy to hold short.

I took some profits this morning on the big drop, but still remain modestly short.
I've also added a short today on the USO( Oil index) @ 36.30.
Also shorted the SPY today @ 106 .25.

Lets see what these entries give us. Cheers!

Tuesday Entry 1065

Mondays tape was too strong with what looked like the lightest volume of the year. Today's gap 1065.75 area is an excellent risk reward to back the size on the short swing.
Good luck and lets see if we can have a continuation of this correction. I can say though that the end of month/quarter games the fund managers are going to play with not make it a clean steady decline. Good Luck!

Update : Nice close today up about 12 points already from our 1065 short. Lets see how the trade goes off the economic news out before the bell Wednesday morning. Continuation with some volume to the downside is what we want to see from here.

Took some ES off @ 1040 area + 35

Took some profits at the 1040 area and will look to re short with more size again on a retrace bounce. I still have 2/3 position short but have to be discipline and take some off after a 35-40 point ES drop. I was fully expecting a bounce to the 1050 area today and probable a sideways , slightly up today as Fridays tend to be light volume after the first 2 hours of trading. Great week gang and look forward to next week!

There is 1080 float up

There is the float up to 1080 SPX...good for a scalp at least on ES @ 1075 entry.

Update: This is a fantastic reaction to our entry! up hugely on our final short entry of 1075 and also accumulated earlier last week at the 1062. Full position short!

More later with some chart analysis...Cheers!

Float up to 1080 maybe.....

Lets see the close today

Amazing the saving the powers that be are doing in this market. Looking at alot of stocks that are on key supports. Take a look at JPM and GS...there trying to break down but this light volume is holding up everything. At some point they will make the decision to sell off, but until some size and momentum takes hold we have to stay patient and in worst case scenario take profits as they come and look to next area 1080.

On Hold for now

We are positioned well for the expected decline. Fridays have turned into the lightest days in terms of volume. There good for the first hour or two and it absolutely dies. I'm confident we will see some downside from here, but it may have to wait til Monday. Have a great weekend!

Were right here, just waiting......

Just scanning our beloved SPX index and just noticed a few things...Looking at the monthly chart we just hit the 20 ma ( 1068) today at the close. Also we have 10 up days from a pivot low made at the beginning of September. If that's not enough I talked about the need to complete the 1050-70 area for a melt up exhaustion type trade into the middle of September. I have put my money on the short side with an entry at the 1062 area. I feel great that we are here and have a great chance of correcting from here.

Add ES short 1062

Added a little more here at 1062. This is a very good resistance area. Watch the afternoon and end of day as this is whipsaw Wednesday before Fridays option expiry. Know for reversals.

Shorted a little @ 1050

Inching back in again at the big 1050 area...we either decline right away or its 1060-70 for the final positioning.

Alert...just watching the DEC contract hit the 1050 area and was immediately smacked down. Need a close below 1050 for a second day to confirm selling beginning.

TOP is Tuesday IMHO

I truly believe the top for this run for the time being is Tuesday. We either march a little higher where I will add or we roll over right away. Bottom line ...Get ready to short!

Low of 1030 so far

Took some contracts off of our ES 1046 short at the opening 1036 area for +10 points. Today Obama is in New York ( actually in front of the Exchange) so there is no way of a decline today. Take your profits and well add higher.

Shorted ES @ 1046

Sorry for the late post , my Internet was lost about 2 minutes after this entry...thank God it went in our favour. Lets see whats in store on this one. I'm taking a third off if we decline into the 1038-36 area, just in case next week they pop higher into the 1055-70 range.

Short ES @1042

Little day trade scalp here.


update..well a quick decline into the 1038 area for the scalp and the buy program bombs go off in the final 30 minutes. Some of you i know too the gains as I did and will sit back now with our goal of adding again at the 1050-60 area.

Welcome Back

Well nice collapse earlier last week as the 1026 area short worked well. I know a lot of you took profits as we held the 990 area. Most of us took the + 30-35 point profits on some of our key short swing position and as posted will add back in into the 1050-60 area. More later as the day gets going and the volume picks up this week. Cheers!

In some ES again @ 1026

Putting on more size again here @ 1026 entry area again...Wash... rinse ....repeat. Again leave room for 1050-60 if it happens to go and squeeze.

Edit...We'll glad we entered the 1026, What a sell off! Goes to show you never know when the turns will come. Congrats to all that nailed this one! I'm holding this position till indicators say cover some.

Notice the 10-15 points agian

Once again the ES drops to the 10-15 point profit range from our 1026 entry . This mornings low was 1010.75. I took profits at today's open + 12 and waiting on this rally possible into the 1050-60 area to re short. I have a 1/3 position left short if we reverse but expecting a higher high to finish off this up move. Cheers! ...and good luck!

Evils site has some great thoughts

http://evilspeculator.com/


This site was the best I found this weekend that best describes what I've been looking forward to. Even some important dates to look for...just a great post all around...Enjoy!

Took A little off @ 1016 + 10

There's a chance that they could launch us into a final move into 1050-60 which i want some room to add. Notice its seems the bulls give us 10 points , usually in the first hour and after that the light volume kicks in and they float us back higher. Look at the INDU...down nicely this morning and just cant keep it down. Just being discipline and having room to add if they pop again.

Theres 1030's ...now what?

There is the 1030 area I talked about Friday. I'm staying with the 1026 area short and SRS 11.70 entry. Some good signs when you see stocks like Citi (C) rise to frothy levels and reverses. Plus a nice sign too when the transports reverse in afternoon as well.

Also every blog and such I follow is all looking at no resistance til 1050 on the SPX...Last time everyone was on the same side of there guarantees was the Head & Shoulder bearish pattern that was breached and reversed on the bears and lead to this huge rally we have been experiencing.

Lets see , may be a 2 day pullback of sorts.

Short ES @ 1026

Starting a new Short here @ 1026 as we look to be in a wheel house range for a decline. We could go up and stretch the 1030 area, but over all its good risk reward.

Also bought SRS @ 11.70 today as we'll.

Overnight was all we got

The globex overnight session was all we got for decline in the ES. The low print of 996.50 was all they gave us. Some of you i know took the decline to take profits, others were stopped out. Next spot I like is around 1030-32 for a short.

Im staying with my entry as I will give it some room to the 1030 's to add.

Trying again ..Short ES @1002.25

Some new signals coming in here. Lets see if the USD can get a bid and drop the equities.

Update...Little squeeze again into the close up to the 1005 + prints , only to see a plunge as China drops again overnight. Funny the only way to make money short is to already be in. Tough market but were doing just fine.

Covered ES @ 995+7 (Open)

Looking at maybe playing the 10 point swings and such for a while as I stay with my swing short position I've built the last month.

Short ES Again @1002.50

Alarms going off in the wee hours here for a short. LOL...Ya I need a life!

Friday- Monday dip and a reflex

Looks like normal trading as we extended a little farther then the 1010 area ( 1015.75) I was expecting but looks like a nice decline has happened and a little reflex up today as its Option Expiry week and expect volatility on both sides. Lets see the close today and opening run tomorrow morning. Hope all of you were able to battle the mental side of this extreme march higher and are still holding for the eventual decline.

interesting video

http://www.cnbc.com/id/15840232?video=1210153499&play=1

ES bidding its time

The top placed on Friday seems to be holding up. Now we just wait til they decide to take profits aggressively. The light volume is always a little worrisome but lets just watch the charts. Below 995 takes things lower.

ES looks like a topping tail

Right into the 1010 area I talked about early in the week. Have to watch the close to see if it engulfs the whole up move today.

Any Time

The ES has hit the 1000 mark and all is well. I believe we are very close to a nice pullback now that this historic goal is reached. Im inched in here @ 1002...could reach 1010 for the very high % decline into the next few days.

Up and Down

Seems the market is using the range of 980-965 area as it plays with our short entry. Im holding this as a swing and just made my last short entry at 990 pop. Its been really trying to hold as each day besides today we come in and the ES gaps down and looks like it may be the day we get a nice correction. Only to be rescued in the afternoon. Lets try and stay patient here and see if the can pull back or need a final push and close above 1000 to say they did.

short a few more here 963

adding here a few..it may go higher

Just added a little more here at the 972

954 looks good

The important 954 top area look good from here...oh ya its now 10 days straight up on NASDAQ. Bearish???? lol.

Cover 50% ES @ 944..+10

taking a little off here , will add higher if appl earnings pops us higher and if we sell off then we get the decline.

Short ES @954

Going Flat for now

The volume is light again as we work on either side of our entry. I'm flat now as we wait for better set ups.

Short ES @935.25

adding a little here as ibm and goog look muted to upside on earnings. Down tomorrow IMHO.

Short ES @ 925

Looks toppy to me here into Fed minutes and possible 2:30et whip saw.

OUT ES ..Even

We had a nice pullback which i should have covered into..but thought there would be more. That's ES trading for ya! Well get em again!

Short ES @ 901

See what kind of pullback we can get here.

Taking some Profits here + 22 on 870 entry @ 892

Not sure what to expect from here. Yes its bullish and the Gs earnings etc which was the main reason for the upside reversal but when you get those kind of profits, you need to take some off.

Long ES @ 870

picking some more es up here...thinking recover and upside bounce.

Update gang here for Monday July 13/09 .nothing new long as posted for a snap back rally into Option Expiry.

Long ES @ 876.50

Little more downside average in here as looking for a reflex here into earnings starting tomorrow.
Update on master swing short from 954 in short swing accounts working extremely well! Looks like we faded the world and won!

Bought Es @ 884

looking for a light volume reflex bounce

Sold ES @ 891 +7

WOW that was a long hold for 7 points! Taking the rest of the day off.

Bought ES @ 884

Still short , but reflex bounce trade here.

cover some ES @ 898 + 25.25

Taking a little ES swing here off the table as expect the market to probably be minimal to the downside for rest of day due to early holiday departures of traders for the Long Weekend. Happy 4Th of July Gang!

Short ES @ 923.25

cover Es break even

This buy manipulation into the end of month is not something we want to stand in front of as ES goes unchanged in a heart beat.

short ES @ 916.75

trying a little here ...break of highs would be a stop around 918 area.

Cover ES @ 911

nothing but some junk trade today..what games!

Adding ES shorts here @ 914

lets see if we get a pullback to at least original entry 905.

Short ES 905

Cover ES @ 895 +3

this market is all over the place...not worth the risk til we hit an extreme.

short ES @ 898

See if we can get a negative close today...use a break even stop on this.

Little update here. @ the close......I'm going to stay with this trade as we seem to be right at 898 and its too close to call. We'll know more tomorrow if we take out today's highs tomorrow.

Covered ES @ 902 +4

Taking a small profit on this day trade and going flat on day trades. More after the fed @ 2:15et.

Short ES @ 906

Day trade, most likely be flat before the fed..we'll have to see.....

Cover some ES @893.+29

We need to be aware of lunch time and the light volume. Important levels here today and that needs to be respected. Great trade for all the traders how followed the Friday 922 top trade.

Cover Day trade size @ 911 +11

I'm going to hold some size into next week but have to take profits into the upcoming last hour of Option Expiry.

Short ES @ 922

Try this entry , it looks good.

covered the ES at the close +4

day trade was ok , but was expecting a little more.

Short ES @ 917 for scalp

Sold ES long Here ..913.25 +10.25

Getting close to the 2:30 ET Option Look ahead time frame for this Wednesday before Expiry. Could move higher put this was a day trade reflex trade only. Caution trading rest of day.

Covered some ES swing @ 903 +51

took a little more off here guys. Just have to take what the market gives you. Ive taken a small long position here for a retrace from the 903.

Cover a little here on ES @ 916 +38

No idea if the buy tornado will come in or not..but covering some to be discipline on a Monday. Still holding from 954 for swing.

Short ES @ 954

Taking some Profits @ 928 +20

Taking the day trading size off the table and staying once again with the original swing going forward short.

Short ES 948 ..day trade

Took a little profits at 930 +24 from fridays entry

Taking a few contracts off here as we have a favorable morning. Mondays have flows of mutual fund money and could recover some so we have to be discipline.

Long Awaited Pullback in the Making

Think we are in the making of a nice pullback finally in the market. Added a little more @ 954 area on Friday . Lets Get er Done!

Cover ES @ 940

Sorry for the late post but took some profits on the day trade size for +8. I'm staying with this thing through this extreme trying time.

Short ES 948 ..day trade account

adding some @ 936

we had a nice decline Friday at the close from the 924 entry. I know some took it , but on a swing basis I like entries into this continuation up move from Friday.

Shorts added @ 924 spike

we may need to add a little higher into Monday -Tuesday but playing the odds we correct early next week. Have a great weekend.

Staying the course here

Staying short the ES and NQ as we have lots of wiggle room for us to weather the choppy games the MM 's are playing. Keep focus gang ..we'll get em!

Short NQ @1425

short ES @ 911

add more at 918 if we get it

Low of 1404.25 to cover into

we had some expected weakness in the overnight session.

Overnight short NQ @ 1413 ..

looking for some overnight weakness and probably be out of this thing into the wee hours of the night

Covered ES @ 905 -1

hard to get anything here as the light volume holds market up

Short ES 904 day trade

Covering half here into holiday +41

Nice sell off today. Covered half the swing ES from 921 here at 880. +41 on the trade so far. Not a bad days pay!..LOL.. Have a great long weekend. Tomorrow is expected to be dead and not worth the trade risk. Cheers!

Nice follow though

We had a very nice afternoon to the downside. The selling was quite responsive to the 921 entry. Funny as its always the case where your only in a half position where the moves really work. Anyway there was some nice confirming indicators such as GS roll over, vix looks to be bottoming and the nice confirmed lower close. Good short going forward.

Short half postion @ 921

I'm taking a half position short here @ 921 and will be adding the full position if the indexes hit the 200 ma at 941 -42 area.

Covered a liitle @ 905..BREAK EVEN ON REST

Short ES @ 915 pre market

Cover ES @ 878 +16

Need to be flat here @ 3:10et as the games will continue on this option expiry day. Also very rarely down on a Friday. Great Day gang and looking forward to another great week next week.

Day Trade Short ES @ 894

Took Profits into premarket weakness

The Es dipped to as low as 882 this morning...If any of you were watching this morning its seemed to find support there and moved higher. The open was a flat one into option expiry.

Short ES @ 896

starting a position here... see how we close today.

Up to +4 points on that resistance level

Hard to trade light volume and option expiry after 3 down days

ES day trade Short @892

Another Favourable gap

Hi gang , being that its Option expiry this week and volatility will be high I'm scaling out some more of my ES and NQ shorts..Beautiful gap downs this morning ..Nice profits for all!
Covered ES @ 888 and NQ 1355.

Covering up some shorts

Covering some Es from 923 short here @ 900 for 23 point gain..and also some NQ from 1400 for a 30 point gain. I still holding some contracts but we want $ and ability to add higher if we hold here and run into the close and into option expiry games going forward.

And the beat goes on

Nothing to say as we had and excellent day on the ES swing short from the 923 pivot and we entered a new NQ short @ 1400. I would have liked to see more from the NQ as the ES ended at the days lower range but the bulls seem to have used the last bit of patience on this market by rotating into tech. If this rotation fails, not sure where else the Big Boys will hide their money, which I expect will lead to a size able decline . Til tomorrow........

Short NQ @ 1400

trying a little NQ today as ES weakness is already in place so far.

Some profits but staying the course

We nailed the highs this morning for a nice fast drop for up to 13 points. Unfortunately the boys at the Goldman Desks are at it again making sure we end pretty on a Friday. I'm staying with my short here in the ES @ 923 having booked some profits on today's drop and will add higher if we gap Monday or enjoy the ride if we tank from here. Have a great weekend.

Short ES 923

Thanks Ross!

Covered a little @ 898

Staying with this short as the pullback is in the making...tomorrow's close will be key. Wanted to take a little profit off in front of the games after hours of stress test results and banks conference calls. Hope you all were able to stay calm and work around the upside exhaustion. 926 pivot going forward looks good for a pivot high print. Cheers till tomorrow!

short ES @ 926

Short ES @ 912

Short ES @ 897

Tough close on us as they ran it up on light volume. Stay loose gang, lets take a stab a little higher with more size. Thanks to Goldman Sachs and there relentless buy programs we deal with a never ending upside pressure.

Go Nowhere

Looking at the chart, it looked promising on Monday with the decline and lower close. But as we have become accustom too its never over til the bell rings and man this week has I have to say been one for the bulls and bears. They both have managed to give the market absolutely no edge at all. The high short pegged for this week working off the 882 ES spike is still in play as we once again wait for some volume to pick up on the sell side. As of now they are right in the middle of the range and its a coin toss.
Best thing to do now is to get away from the charts, relax, enjoy the weekend and come back fresh for Mondays trading. Cheers and thanks for dropping by.

Cover Day Trading Size on Es short 870 + 12

There holding us up a bit as they wind down the end of month. I'm taking some profits on the 882 short. Holding a swing position from 882 going forward as there are a number of confirmations of a pullback coming.

Short ES @ 882

Ahh just a few points on ES + 2 @ 868

Man they are just salivating at the mouth to get long at any level these bulls.

Scalp short ES @ 870.50

Hmmm ..So this is whats happening

http://www.nypost.com/iphone/story.php?feed=business.xml&id=166505&pos=business_topstories_03

Two points of profit

There was a nice drop in pre market for up to 20 points on the Globex from last nights 858 short. Also there was a nice retrace from 858 again today at the 1st hour high for up to 7 points. Going forward we may be in for choppy low volume trading as we have just started a two day Fed meeting with the usual announcement Wednesday at 2ET.

Im Sticking with it

Looks like a nice head and shoulder top to me in an over bought market...I'm staying with my convictions on downside from here with size. Good luck!

Short ES @ 858

Favourable Decline

We have a nice decline on the globex as I type this in the wee hours of the morning. Low on the globex as I type is 846.75 . Kind of makes you wonder what the hell all the buying was right up in to the last few minutes of trading Friday. For what ???....a 20 point drop Sunday night. I been a seller of this rally the whole way up and have been taking profits on nice pullbacks all the way down. For Monday I feel no different! |Sell EM on any bounce.

Covered some ES @ 858 +10

What a volatile day... where they just whip this thing around! Crazy! Still swing short from our 871 as posted , but took a little as we collapsed in final few candles of trading.

Short Es more @ 868..swing postion size again going forward.

Short Es @ 858

Covering ES day trade up to +10

We had opportunities of up to 10 points profits on this day trade. Usually on all the internals that I seen today, this market would be down 250, but they rescue it again. Nothing you can do just hit the pivots and hope for the best.

Shorted the 843 .for day trade

Just adding a little more size into this swing, as we all hold for the collapse. Problem is Amazon and MSFT after the bell. Ah its always something.

Cover @ end of day 836 + 17

Covering up day trading size Still holding short swing from 871 top....need to see how appl and ebay report after the bell.

short ES @ 853

Short ES @ 840 area..

Day trade as still have swing position on from 871 area.

Nice start!

Beautiful sell finally has our short position started last week nicely in the green. Today the market finally decided to pull the plug for the time being on this "everyday up " movement and Wow what a move! The entry at the 858 and final top up at 871 worked well. Looks good going forward. Sell rallies from here. Nice 5% from the 871 high print to today's 829 low.

Nailed the high on ES @ 871

I will be swinging this position going forward. The market has been in a very bullish grind into Option Expiry last week. Pullbacks of 3% to 5% were the norm in the old days when these post-option expiration's were regular events.That is what minimally I'm looking for on this pullback.

Took a little more ES 871

Swing Es short from here going forward

Short more Es 858

Short ES@ 853

Sitting Tight

Sorry gang I've been really quite for past 2 days but the volume and set ups has me sidelined til better set ups develop. I believe patience in this environment will keep us from getting chopped up in a whipsaw market. We'll get em soon!

Covering Thursday ES Short swing @ 837 +10

Taking what the market is giving at this point.

Quick scalps til better volume

This is all we can do at this point til we get better volume. There is some sort of underlining bid as GS is pinned to the 123 financing price and also the waiting game on INTEL earnings after the bell today. I personally have been short from 847 since Thursday and its been an absolute dead trade. So quick scalps til we get a better set up.

Volume light ahead of GS earnings tuesday

Extremely light volume as the market floats up. Tomorrow will be a better day as we stand aside today.

Short ES @ 847

Cover ES @ 814 +10

nice afternoon rollover!

Short ES @ 824 for scalp

Cover some ES on Day Trade @ 811+ 10

Gap fill area is very close at the projected 810 area and GS as always is still holding up. Tomorrow possible Uptick news coming and AA earnings, has me short lightly now from 847 swing and taking profits intra day as they become available.

Added A Little ES Short 821 area

ES Short @ 847 Area starting to work

Covered some of the Sunday ES short I posted yesterday as the light volume stalls the decline. Also the strength of RIM and APPL holds up the market in the final hour.I am looking for 810-800 for a covering spot on the rest of this trade. Will be looking to average back in on rallies higher.

FAZ working

Suggested buy on the FAZ on Fridays market rally and overshoot in key Goldman Sachs and financials leads to what looks like some profit taking in the financials.

Taking some Profits on ES short + 22.50

I am going to take some off the table as Rim and Appl strength has me a little conservative on expecting a collapse on market today..

Short ES 847.50

Took a light short Sunday night here on the ES. We are so close to a big reversal lower. Upside looks limited to me.

Light Volume Stalls Market

The light volume and strength of GS all day had the market look good in the morning for downside but was rescued in the afternoon. I 'm flat now on the ES going forward but started a small position on the short financial FAZ @ 15.75.

Holding ES Short here for swing into next week

I believe we are close to a nice pullback before long positions are able to be put on again. The market is up huge for the week and at this time anyone buying looks to be chasing performance or covering shorts. Downside looks good for tomorrow.

Short ES @ 830

Short more ES @ 808

Short ES @ 795 for pullback

Cover Rest of NQ Short @ 1213..Total + 36.50

Covering some into the close on NQ

Nice sell off into the close as traders bid the indexes up into the 3et time frame on light volume. The 1249.50 entry worked well as they collapsed into the close for great gains. I'm leaving a small position of this trade on but closed out most of it at 1228. Great Call Jeff and Ross!

Short NQ @ 1249.50 Swing..add more higher!

We have resistance here and gap fill a little higher , so we could slide down from here or fade a gap up tomorrow.

Cover ES @ 793..+1

Today is extremely light volume. I feel at this time there is no sense in sitting all day short in a positive breath day to probably eventually get stopped out. The system I follow needs full participation of volume and market participants. Today were are just not getting that and I feel the risk is unjustified. Good luck to those holding shorts.

Short ES @ 794

Cover ES 788 + 4

Short ES 792

quick scalps today gang, that the best way to handle the end of the month movements.

Taking Half ES Short Off @ 788 +41 Points!

Taking a few profits on the Huge drop this morning! Congrads to those that held through the 822-29 shorting Pivots and are now very nicely rewarded! Looks like possible double support on charts.

Monday Starts Great!

Nice Start of a Pullback

The scaling in from the 822 and then final entry @829 worked well as we had a favorable gap down this morning and some churning at lower levels. Some key stocks like Goldman , Xom and Appl look to be rolling over. We continue to hold short for a larger correction going forward next week.

Short more ES @ 829

Short ES 822

Cover ES 797

Nice 24 point Gain! The covering area was just in time as the bounce was vicious into the close. First nice pullback we have had that traders used to get more long exposure going into end of month mark ups. Hope all of you nailed this one!

Short ES @ 821

Nice Collapse into the close on ES!!!

The 813 area was the ticket...never seen the 825-30 was hoping for but we are riding the trade!

Looking to add more ES short @ 825-30

Short ES @ 813

Slow day so far

This morning had us all waiting for gap fill and resistance on the ES at the 825-30 level. Unfortunately the market did not give us the opening run we were expecting and now we are consolidating in a tight range between 805- 814. For now I'm waiting for better read.

Stopped out ES @ 805

SHORT ES AGAIN @ 799

ES Short Update and FAZ Recap

The FAZ long trade was put on as a hedge for my long term FAS going forward. The original entry at 31.95 was a touch early but as the market rolled over, the recovery was fast and furious!
Holding on for more selling expected next week.
The break of the upward trend line today lead to selling all day! Entry @ 799 still working well!

Over all a great week and now a well deserved weekend! Enjoy and talk to you probably early Monday morning as I need time to decompress and relax. Cheers and thanks for dropping by.

ES and Some Gold

Nice lift today on the ES , but its time for some back and filling. Good risk reward going forward on the short side.
Took a nice position on GLD today @ 89.00 for a swing. The volume on this surge can't be ignored. Buy dips on GLD going forward.

Short ES @ 799

Sorry for late post..its just crazy today with entries and speed of market!

cover ES @ 783..+10. points!.Staying with GLD for swing

Short Es @ 793 and Bot GLD @ 89

Little bit of Hedging..Bot FAZ 31.95

Sold ES @ 772...+10 Points!

Now sitting back and waiting the fed announcement out.

bought ES @ 762 , quick scalp

Standing Aside til After Fed Announcement

Due to the light volume and most players waiting til after the Fed announcement, i think its better to stand on the sidelines. Only position I have is a long Financial swing from way back on the FAS. Flat everything else at this point. Talk to ya after the Fed.

Take your Profits as They Come

The decline continued in the first part of the day as we went done as low as 746 area and that was it. I was able to take some profits off the table, but to be honest was a little surprised at the light volume drift higher. Funny though this is actually a normal pattern we have been use to on days going into Fed announcements...A slow drift higher! Anyway I'm flat now on the ES and locked in a nice gain, but was expecting lower prices to be honest down into 740-25 at least.

On a better Note , the remaining long position on FAS is looking to be breaking out again . I continue to ride this one up.

sold some of FAZ @ 44.25 ...+8.25

Faz Chart and some ES thoughts

This entry was right in time as the ES Emini hit the 769-773 short targeted last night. The financials have had a great run in the past week and a half. The charts of GS and JPM as well hit significant resistance and are rolling over which should help the FAZ swing trade going forward.

Short ES @ 669.75

Starting a position here as per suggested...Market is really slow today with an underline Bid with the Transports and Broker dealers up very strongly. Caution has to be issued on the strength of these two averages as its a great One -Two punch of clarity to the over all trend. The Put/Call is a very low number which I feel will cause some short term whips to the downside. Goldman seems also to be breaking down intra day on trend line.

Bought FAZ @ 36.00

Thinking we pullback and financials have some profit taking.

cover ES @ 658..no give..... +3.75

Short ES @ 661.75

Up, Down Go Nowhere

The market gave us a nice pop up into the 754 area targeted for resistance. Shorting the market from here was a good risk reward as the pullback took us to the 739 area for a nice 10-12 point profit. The market from there seemed to take its Que from the 741 important support holding up as confirmation technicians used this today as a positive for stability in the markets. Definitely something we need for a while. The confidence took us up to close up again in the 754-55 area for a basically up slightly on the day. Over all nice day with some profits on the short. Have a great weekend and we'll look at some charts Sunday Night! Cheers!

754 Target was the Key!

The expected rally up to 754 and stalling was all I needed to short the ES09M. The market has pulled back nicely so far for 10 points. Will see if we can sell a little further into the late afternoon.

SKF covered for up to 100 point Gain!

The original entry on SKF was the 242 area and it took a few days but WOW! I have covered up the short for handsome profits as these markets look good for some backing and filling Friday. The up move has been a monster on the financials and this Financial ETF short is looking at support on daily coming up so I booked the profits!.

ES trade confirms and up we go!

As suggested on Members only site, I was looking for a dip to get long this market for a continuation higher. The first support I highlighted was the 714 area and the was bang on as we then sky rocketed to the 725 pivot. I also suggested if we close and hold above 725 then its aggressive on the buy side. Wow!... is all I can say as we pushed higher all day closing over 750.
We have moved now over to the June contract from the March expiry , so I went flat totally at the highs today. Great trade as the swing was originally from 673-750 area, for a 77 point total gain on March ES09 contract.

Es and SKF summaries

Sold a big portion of the ES March contract swing from 673 today when we couldn't rally and hold above 725. Profits on trade 52 points per contract. Will be looking tomorrow on rally to sell the rest of March contracts or will be rotating into June lead Month contract on a decline tomorrow.

The SKF financial short I had on moved another 13 bucks for so for us so well continue to hold that trade.

SKF Drops like a Rock!

We experienced a day or two of flat to slight bit of heat on this short but the turn in the market upward and the rally in the banks and financials sends this Bearish Financial dropping like a rock!

Great Trade on ES ...673 The Bomb!

The suggested long swing from 673 was rewarded very well today as we notice the bottoming tails and buy programs finally giving way to a monster up move in the markets!

pivot low under construction

So far so good, but market really needs to get going here. The 673 entry was good from Friday and those that never took the trade had an opportunity this morning in to take some below that level. I would look at this afternoon to be the test if we can break the Fridays highs 699 and create a pivot low. The problem today and last week has been the low Put /Call which has been today a .76 area. A move above 1 or better is what we like to see to get follow through going better to the upside.
Anyway were long from the 673 and holding for more. Also swing on SKF at 242 is finally getting a nice move as well as Ge and our financial FAS.

Monday Possible Move

Welcome back from the weekend! I'm really excited for Ross's great blog combination... Fantastic idea! Looking towards to Mondays S&P 500 Emini trade as well. My bias at this point is leaning towards the buy side as the indicators are very oversold. I officially am holding some contracts from the 673 area buy from Fridays last 30 minute rally into the close. We are deeply oversold but the market has not, as yet, given the “all clear” sign. This could be the start of a rally back to 726 -754 in the S & P before a final plunge to 625 where the real rally begins. If we get this short term up move now, use it to your benefit but be extremely careful about staying long. There is a multi month rally coming but this market is very suspect. If we can’t get above 780 over the next week, look for the final plunge to 625 to occur.The important upside levels are 706, 714, 726 and 754.

Great Day!

Today is a perfect example of why I like to trade ES Futures and not stocks. The pivots suggested last night if followed correctly were the way to go for sure. The opening gap up to flat and a cross over the 688 pivot was a nice buy entry for 11 possible points. We then rolled over which then suggests the next support 673 area for a buy attempt. There was a nice 10 point bounce from there as well before rolling over. The market traded in a lower channel before monster short covering hit the wires and gave a nice entry at 673 again for a rally into the close. Great day all and thanks for dropping by. Talk with you Sunday Night. Cheers!

Friday

Friday's trading action will get its key off the big jobs # in the pre market. I cant express the oversold readings on my internal indicators which is why I believe we seemed to have these playable bounces off key support levels. There is some levels to watch tomorrow as we closed right at an important support area 688. The next areas to take stabs at long exposure would be 673, 662, and I would load the boat at 647-50 area. I've picked up some long exposure at an average price of 882 area on the Emini for a swing position into what I expect will be a very nice rally going forward. Now either we take off right away tomorrow as what looks to me that most of any bad jobs # is for the most part priced in. Or alternatively we dip below into support areas listed above and possibly stab the lower 650 area before moving up. Overall I like the buy side.
Also I have taken a sizable short position on the SKF as a swing position as well.

Ugly Day but Stops Helped

The suggestion last night of the buy zone between 702-06 was never hit today. The market opened up below our suggested stop point so no trades on record. I personally took a small trade for a quick in and out at the 697, but you had to be fast as it was reversed very quickly. The next support level was the 688 and below there was 673. That seemed to be the range for the afternoon.. I am still looking at this market as washed out and in need of a bounce. The extreme oversold readings are incredible and I feel tomorrows Job # could be the ticket to a low in place for a bit. With that thought I accumulated some long exposure in an average 680 area on the |Emini S&P 500 and will be looking to swing this area for a bit adding further on a dip tomorrow or staying with it on a reversal to the upside. The market feels like it was pricing in the expected bad job # tomorrow and would expect upside from here. More thoughts tonight.

Thursdays Thoughts

We had a nice bounce Wednesday as we are looking to find a pivot low that we can play for some long exposure on basis longer then a few minutes to hours. I am still liking the buy side of things and would look toward a break and hold above 730 tomorrow to bring in the short squeeze that we need to work off this extreme oversold readings. Also we can buy a dip between 702 & 706 in the early trading and keep a 697 stop in place.These are the set ups I am looking for tomorrow as we started to look good today but had the bank stocks hold everything back from finishing a lot higher then we should have. Good luck and again thanks for dropping by!Cheers!

Nice Start!

Well finally we had some upside as the 700 area acted as nice support today for upside action. The market opened up again and retreated to the 700 area( our long swing area) and moved up nicely to 714 and then later 724 before some profit taking kicked into the close. Over all a nice start to some upside and a welcome change in character in the market for a change. Back tonight with Thursdays thoughts.

Ok Lets Go!

The futures as I type this are once again trading nicely higher and looking a to have an opening gap off the open. In my option we are ready to rock to the upside. The dips are still being bought up as we noticed on Tuesdays trading and I really feel the down side looks exhausted. I am still holding some ES contracts from the 700 pivot and looking for clarification today and a nice reversal higher. Some area to watch if this market gets going are 700, 714, 726 and possibly 741 if we really get going to the upside. Lets stay focused and give the market the chance now to explode higher as we are at extreme oversold readings. Happy Trading.

The opening pop I was expecting happened nicely for a gain up to 15 points from the 700 entry Monday afternoon. The market then retreated to find support twice today signaling that dip buying was again the way to go. Personally the day looked good for upside, just the volume and Put / Call is to complacent to squeeze the shorts very far. So we are again holding from 700 area for an recovery day coming very soon. I scaled in and out all day as profits arise. Talk with you tonight! Thanks for dropping by.

Tuesday should be the day!

Trading action for Tuesday it looks like we could get the up open I'm expecting as I type the futures are trading up 13 points higher from our 700 entry yesterday. Even if we do happen to dip in the morning tomorrow, I feel its absolutely nuts to short this level. We have been down 10 of the last 11 days. As you can see from today's dip buying action from our entries there is just not the panic in the market that scares the bulls out and to be honest the oversold readings are way to extreme to give me any reason to think about shorting the market from here. So we really need to be ready tomorrow and expect the upside to be the way to go. Buy dips all day!

Who says you cant buy this market?

Right ON! Game plan worked great as I suggested. The market opened past the 726 pivot, so that was your key to look for the next lower which was the 715 area. The market hit this area a few minutes before the open and bounced a nice 5-6 points for us to scalp some profits. The next area was the 700 area and we got nice launch higher in the final minutes of trading for 5 points. So Hey.. 10 possible points on long side in a gap and go to the downside all day long. Good Stuff!
Personally I'm holding a few contracts from 700 as it was really slow and dull to the downside today and we could very well get a pop tomorrow morning. Back tonight with some thoughts. Cheers!

Monday

I had to laugh as I find it impossible to actually scroll back far enough to get a decent chart for analysis tonight. The markets close on Friday was not pretty to say the least. I Globex right now for the S&P 500 Emini right is under some pressure as we are at my next support level of 726 area. If your short ..Good for you but I just have a hard time to short this low and oversold. I much rather buy dips for bounce scalps til we get the turn and rally on volume that is breath taking. I have a feeling we are very close to that. Some suppport areas to watch are 726, 714, 700 and 688. I personally will be buying at each level for quick scalps til this market puts in a pivot low and can close positive two days in a row. Caution as we enter this period that is writing history as we speak.

735... The Ticket!

The morning gap down gave us the suggested buy target 735 for a bounce in the market to play for a scalp. The bounce was fairly orderly as we pushed up into the first hour or two and then sold off again. The selling seems to be the theme as you get the target to buy into and sell off after a reasonable 10-20 point move. No trust for sure holding for longer term so far in this market.
We had a nice week of profits and would you know it all from the long side in a hugely down % on indexes in general. The pivots never lie! Thanks for dropping by and well talk with you Sunday night.

Friday

We are sitting right at support 754 area as illustrated above. We have some big economic news pre market Friday morning which could move the market. There has been a lot of talk about the 741 being the be all end all for this market to hold up. I would look a little lower possible 735 to be a better support area for a bounce if we do happen to tag it. The spot I feel would be good for at least a bounce for some profits. The darning could try and hold for more but caution to you in this market. A break of 735 and things could get a little ugly and might follow through into Monday-Tuesday. There is also a slight chance of recover and if we do get up and above 775 again I would consider swinging market again.

Please sign up and follow the blog and we can navigate this market together. Blogs are a great way to express and gather information to be able to trade more accurately. Cheers!

775 a No Go...and Down We Go!

The suggested game plan last night was pretty simple. We either get above 775 and hold or its down we go! The opening run today into the first hour seemed very bullish to me, but it was quickly resisted and sold off from there and as you can see steadily sold off into the close. The market seems determined to go lower as every rally is hit with selling. Talk with you later!

775 ..Or we go down!

We have tried and tried to get above and hold 775 for 6 times now in last week. Enough is enough we either do it on Thursday and have some follow through to the upside or we will be taking out the 754, 741 and looking at 710-690 before we can look at this market on the long side. Our entry from 755 swing has been up and down, all around for a couple of days and its time for the upside to go!. Trade well and at most use a 753 stop or break even if we get the decline tomorrow taking us out. Lets hope for upside and recovery!

Are We There Yet?

Wow is all I can say! They sure are not making it easy are they. We had a flat open today and a retest of the 754 pivot talked about last night and then a launch higher. But it gets better! Then just when things looked good we get another retest of 754 and again holds above on a closing basis and up we launch again to the important 778 area suggested. This area was an important decision area for the bulls, but unfortunately the energy level it took to rally the markets all day was spent and we rolled over to 764 by the close. Ahhh! Will we ever hold and rally! More thoughts later tonight! Cheers!

Wednesday...Ok Bulls Your UP!

Looking toward Wednesdays trading action we are long a swing from the 755 pivot on the Emini S&P 500. As we all know the key to this bounce to be anything useful will be continuation from todays rally in which we will create a pivot low. I would be a buyer on dips in this market and will be using a break 754 as a stop on swing position. Looking at some goals of upside continuation I would be watching for a break of 778 to bring in more upside to 783, 798 and 801. I have a feeling some of the bears will be looking at the 800 area again to enter the market...so a great profit taking area if hit this week at all. Good luck and trade well!

Rock and Roll!

The start today was a little slow as traders waiting around during Fed testimony today. We traded back and forth until 1:30ET time when we created a nice Head and Shoulders inverse intra day and it was off to the races. A nice steady climb and we never looked back as we finished a few ticks off the highs of the day. Great day today as our swing from 755 ( funny actually was the breakout point of the H&S) recovered today and we are nicely in the positive.
Going forward we need to see confirmation if this rally is for real. Is it just a one day event to work off oversold conditions or a change of character for a bounce in this market? Back late tonight with some market thoughts for tomorrow. Again great day and thanks for dropping by! Cheers!

Rally Time Tuesday?

A depressing chart above , just putting into perceptive the decline we are in. A huge M pattern is formed from now and the lows we are currently trading are in 1997 Era.... WOW!!!
Well we have sold off some 7 days in a row and have had no change in character to believe any rally will hold. |Everyone has been sold off into. Will Tuesday be the day we push down to new lows and recover? Or simply take off and actually finish strong!. As suggested last night , have bought the dip in this market. Currently long form 755 area as a swing for what should be an incredible upside reversal. Also I have purchased some April index Calls as well. As you can tell I'm locked and ready for the upside! Now we need the market to help us out! LOL....
Rally Time! Good luck and trade well.

Monday... Buy Weakness!

Huge volume on Friday to complete Option Expiry. The suggested pivot 754 was close to the bottom of the selling pressure Friday and as we all know there reversal came hard and fast. I would use at this time any weakness tomorrow to get long. A suggested safer more bang for your buck strategy might be to use the NASDAQ futures ( NQ) instead of the S&P 500 Emini's as tech I believe is some what aside from the financial pressure will be an out performer going forward. Same strategy on buying any weakness tomorrow morning on a possible little bit of option expiry hang over. Good luck and trade well.

Financials Anyone?

The 3x financials (FAS) is a great and cheap way to get exposure to the possible financial reversal coming in the future. This ETF traded at a all time low breaking below 4 bucks before violently reversing on Friday. Is this a pivot low? Look for continuation going forward and follow through for clarification. Great risk reward going forward. I picked some up on the break of 4 bucks Friday.

Bounce Time!

The suggested buy the market on a 20-30 point drop worked to a tee today. The close yesterday was the 779 area on the Emini S&P 500. We had the scenario of the gap down off the open and ran down into the 754 pivot and reversed strongly into the afternoon. A slight pullback in the last 45 minutes but over all up nicely on the day!. Have a great weekend and thanks for dropping by. Talk with you Sunday Night.

P.S. Join the Blogger community as a follower of this blog. We can all share on ideas and strategies.

Time To Buy

We'll kind of a weird situation today on the Emini S&P 500 futures. A ton of downside on all indexes including DOW, NASDAQ and S&P but the futures are flat??? My thoughts going forward is the market is a buy going forward. Either we take off tomorrow right off the open or we gap down big tomorrow morning and reverse to the upside. On a gap down I would be a buyer 20-30 points lower. Support levels are 769,754 and 741. The sentiment feel is way to negative and everyone is looking at the November lows on the S&P 741. Good Luck and Trade well.

Anyone Bullish?

That's the real question. I frequent several chats, blogs and read a ton of emails and articles daily. I honestly have not read one piece on anyone thinking the market could turn up from here. Every single thing written about is how the market needs to test the lows...it has to test the lows! The argument was appealing last week when we had an incredible number of calls in the market as the Government was going to save the day. Now that we have really sold off, that number of calls has quickly been converted to a huge amount of puts. Gang... the financial world and institutions do not want to pay off those puts. They will be looking ahead and in my option reversing this market and moving back the other way. Anyway that's my thoughts. Yes we can always go lower (test the lows!) but my gut says other way when the world says down. I will be buying the market tomorrow with a stop below 764. Good luck!

Yesterdays Lows Hold for Trade

The suggested waiting for confirmation of yesterdays sell off seemed to be the right way to trade today. Often the institutions will breach the lows from yesterday, take the stops out and reverse the market. Well they ran the market down to important 778-782 area and reversed the market higher into the 1st hour. The Emini then traded in a choppy random range before again selling to the lows by the close. Back with Thursdays thoughts late tonight. Thanks for dropping by!

Wednesday

Hi Gang! sorry for the late post but I'm taking on some other things a few nights a week. I believe we could see a light rally tomorrow as we seem to have some anticipation of details on mortgages. I have given you on a chart below with the levels to watch for tomorrow. Confirmation at this point needs to show up on the downside or we could find ourselves reversing up again. This week is option expiry so expect the volatility and whipsaw to continue. Also another important pivot to watch is the 80 even number on the SPY today. It was a wall or resistance all day Tuesday and a close above that level on a 10 min. chart would push us a up for a nice trade. I suggest still to remain cautious, small and intra day on all trades as we are one announcement away from a reversal gap that could look similar to last Thursdays final 30 minutes. Cheers!

Yikes!! Gap below 805 and down we go!

The suggested market scenario if we took out 805 to be bearish worked well!. The market for the most part was after an initial sell off into the 10ET time frame was side ways, choppy trading til Obama's signing of the stimulus Bill at around 2:40-3ET. The market tried to stage a bounce of sorts but the over all trend was down and remained that way into the close. Hope you were able to catch some profits today! Back later tonight with Wednesdays Thoughts.

Tuesday 805 Holds or Bust Lower

The scenario of the important 805 area holding on the S&P Emini in my option is very important. One thing that keeps me thinking that we may in fact hold this level is I actually can't find one bullish piece of news, blog, article all weekend giving any bias or thought to any possible move up in this market, everything is negative! ( The bailout is Hated by Republicans, Asia was terrible Monday trading, The futures are lower). Man you would think the world is over and we should all just give up. The bailout was voted in by the senate on Friday evening. I have a feeling the there could be some clarity given to bank assets and mortgage foreclosures very soon. I have to believe they are aware of the reactions since they have addressed the details very minimally last week and have had nothing but lower stock prices after the fact. Maybe I'm just an internal optimist, but buy the market as long as we hold 805. Good luck and Happy trading!