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!
Tuesday, March 31, 2009
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.
Monday, March 30, 2009
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.
Sunday, March 29, 2009
Friday, March 27, 2009
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.
Thursday, March 26, 2009
Wednesday, March 25, 2009
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!
Tuesday, March 24, 2009
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!
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.
Monday, March 23, 2009
Friday, March 20, 2009
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.
Wednesday, March 18, 2009
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.
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.
Tuesday, March 17, 2009
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.
Monday, March 16, 2009
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.
Friday, March 13, 2009
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.
Thursday, March 12, 2009
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.
Wednesday, March 11, 2009
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.
The SKF financial short I had on moved another 13 bucks for so for us so well continue to hold that trade.
Tuesday, March 10, 2009
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!
Monday, March 9, 2009
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.
Sunday, March 8, 2009
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.
Friday, March 6, 2009
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!
Thursday, March 5, 2009
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.
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.
Wednesday, March 4, 2009
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.
Tuesday, March 3, 2009
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.
Monday, March 2, 2009
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!
Sunday, March 1, 2009
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.
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