No Trade today

I was expecting a pop up in the markets today to get a short on but looks like they started without us. More or less a chop fest with indexes finishing down a 1%. Not really bearish on these market at this point as it seems volume has died off and the volatility has subsided for now. I'll be looking for area to get long again tomorrow.

Possibly Sell the News

Im looking tomorrow to sell any uptick tomorrow into the first 30-60 minutes. I'm liking the ES 1210 area on a pop up tomorrow off any front running on European news.

Long some NQ@ 2153

Long some NQ for a day trade @ 2153.

That was fast . High of day hit 30 minutes later. Out @ 2180 +27 .

Adding some NQ long @ 2235

Nice drop after nice profits yesterday. Adding back some long exposure here. Yesterday we rallied from our 2273 to as high as 2319 area. Lots of profits there for everyone. Today we sold hard and adding here. Jobs number tomorrow.

Long NQ @ 2273 area for a bounce

Starting some long exposure here as nice drop and good odds here. Watch financials for lead here. GS BAC XLF .


Lots of traders were able to get even better levels on the buy side. Buy opportunities as low as 2253! Traders market with this volatility. We now need to see the close to see how the daily candle looks to determine next move. Stay with this trade it looks good!

Stopped out on second half @ breakeven

Talked with a few traders. Some took the stop out @ 2377 area. Others sold into the pop Monday morning on the expected debt ceiling increase above the 2400 level. All and all a great trade and I'm looking to see clarity tomorrow before taking next trade.

Taking Half Off here @ 2394

Taking half the NQ long off now from the 2377 area + 17. Leave the rest on for a resolution to the debt ceiling. Use a break even 2377 stop on rest. Enjoy this with no stress ! Cheers!!

Bought BAC @ 9.72

Financials are holding up here. I just bought BAC @ 9.72

long Nq Sept futures

Bought 2377 area here on the Nq futures. I feel this is the sell off worth buying today as market shakes out the weak hands.

Nothing yet...

Problem I'm seeing is we never get a good enough spike lower to confidently grab some long exposure. I believe once we see this it will be a better entry for a long into this debt ceiling debate.

Sunday night

Man that was fast on a dip here in globex on the NQ Sept futures. Print all the way down to 2383 area. Hope some of you got some . I'm hoping for a return there or close to on Monday to pick up some long exposure for the expected raising of the debt ceiling

Taking Profits Here @ 2408 + 37

Been some trades back and forth here but taking some profits here and looking to short next pop up in beginning of next week. I'm taking some interest again in posting trades. As with most blogs, I find trading and getting ready for the next day enough work at night. Posting charts and lines and all of that is what I will not be doing due to time constraints. I hope all of you benefit from the posts. Please feel free to comment and note any other trades and options. Cheers!

Back at it here

Took some NQ @ 2371 area LONG as expected recovery today and week on last three days of selling.

Monday blues

Amazing how it seems to be the AAPL show here and as goes APPLE so goes the markets. The tech sector is just not ready to decline it seems . Yet anyways, lets keep holding this short as were already in for 10 points of profit.

Short ES @ 1274

Ive started some short exposure here on the march ES @ 1274 area.

Took last few profits here on Sept ES

Short Dec ES @ 1116
Short Dec Nq @ 1919

Taking Profits on Longs

Taking some longs off here finally with the expected recovery.

Es 1081 average entry - sold at 1118.50. +37.50

Nq 1853 average long - sold at 1900. + 47

Good profits on all. Took a little longer then thought but worked well!

added NQ @ 1829

took a little more long exposure here on NQ for a bounce into the end of month.

Long NQ @ 1853

Taking some tech long here as well for the end of month/quarter bounce to happen.

So positions are Es long @ 1085 and adding here @ 1078
NQ long @ 1853

Took Profits +28

Im taking Profits here on the ES Sept short @ 1085 area from our 1113 area entry.
Not sure what happens here but have to think some end of month and quarter window dressing is in order. A small long position could be put on here at 1085 area and added to lower as a rally is most likely into the July 4th-6th time frame.

Sold ES swing for nice Profits!

Took the gains on this June ES swing here @ 1118...
From the 1088 entry +30
From the 1102 entry +16

Going to take a small short here @ 1113 on the Sept contract for a hedge.

Looks good going forward for ES

I like the consolidation and the recover from the lows. This swing entry has been traded around but the bias looks good to the 1120 are where i expect we start to short again.

Sold NQ @ 1819.75 ...+ 45.75 points

Taking the gains here as we are at an inflection point on indexes. Could go either way so we take the NQ gains.

Bought NQ @ 1774

This looks good for a rally ....especially with tech down so much and the rest of market seems firm.

Continue higher looks good

we had a coupe lower tests this week and look good for higher into the end of the month.

Taking the 1053 entry size off @ 1088 +35

WE are back to our 1088 second entry and one must take the loot as its really a beautiful day trade of 35 + points. Im staying long, but just taking this entry off for the gains!

Adding some ES here for day trade @1053

Good daytrade level for a bounce.

Adding some more Es @ 1088

Nice little drop to add to our 1102 long.

Bought ES @1102

Took some ES here ...downside looks overdone.

sold ES@ 1171 +7

nice day trade for quick profits. Not sure what to expect here. Caution warranted.

Bot ES @ 1164

little dip this morning i'm using for a day trade long

Sold ES @1165 +20

Taking the gain here. Nice simple day trade.

bought ES @ 1145

taking advantage of the gap down this morning

stopped out even..

that was a quick 8 point punch higher to evaporate.... better stand aside here.

bot ES 1112.75

SOLD NQ @ 1134

SOLD NQ YESTERDAY @ 1134 + 7 POINTS.

long NQ @ 2027

Little friday scalp play on long side.

Cover NQ @ 2005 +28

Have to cover gang ..Obama is on his way to NYC for a speech and will probably make a visit to the NYSE after that. There is no way while he is there that the market will be down huge like it was this morning. I hate it, its wrong but its the way it is.

Short NQ @ 2033

Something different here with a tech short as its seems AAPL earnings could be a meaningful top in tech for a pullback.

Took Profits +24 on ES short

Took 24 points @ 1185 area here on the ES short as it seems well get a bounce to go short into again .

Added here on ES short @ 1210

We hit two important levels yesterday and today for resistance. Also the fact that not one pullback into this Option Expiry week has me leaning for a pullback. Good luck!

Short ES @1194.50

Nice new area to get some exposure to short side.

Short @ 1157 All in!

Short more ES @ 1140

took the light float up this morning to add a little more to our swing! were any day now to a big drop.

Adding a little more ES short @1122

Adding a little more short size here. Looks Ok from here...Maybe top will be 1130-35 to add final piece to this short.

Short ES @ 1111

Starting some short exposure here.

Sold ES long @ 1102 +8

took the money on quick overnight scalp long at the 1094 entry yesterday +8

Bot ES @1094

took a little long exposure here to see if we recover some in the afternoon.

GOING Flat ES +30

Nice retrace bounce from the 1042 long entry and going flat at this 1072 area for +30 points. The market is handcuffed right now by all movements on the USD. Caution going forward as there could be fireworks on all news effecting USD.

GOING FLAT...... TOTAL +97

That's it for me on the short side...Im going long here at1042.
Nice sell gain from 1138-1041 ... +97

looks like a bottom to me here....also 100 + handles from the top area.

Theres +78 points from the 1138 entry!

Finally got the sell off we have been all waiting for. Not sure from here but take some more off here gang and we'll short a retrace.

1081 Low print

There was a nice low print in the weee hours this morning of 1081 on the march ES. Pretty nice gains for all who have held through this short swing. I suggest taking some off and possibe adding again into the 1115 -20 area.

Add shorts here @ 1138

little more exposure for the downside expected.

Welcome back!

Shorted some ES here @ 1129 area, and on any pop up will add.

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.