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!