part of this position was closed on Nov16 for minor gains, the rest on Dec 21 for a loss. See comments sections for corresponding entries at those times.
Hey buddy, saw your post on disqus and I agree. You're looking for 1450. I'm looking for 1500+ from here. I think we can still have a gap down tomorrow, but today or tomorrow is the bottom.
I do sound bullish here, but I think the long-term bear comes after this rally and this rally will take some time. I keep seeing the usual suspects getting long-term bullish from here and they are the same people I normally fade when they get IT bullish or bearish. Last week they wouldn't shut up and today they are very quiet. I expect even more dumb money to pile in long over the next month.
Other than that, there just hasn't been much to say over the last several weeks. A very choppy downtrend.
Hi Darren, Yes I agree we are not ready for the real down leg, some more time needed. 1450 is pretty sure shot, from there on I expect slow but clear bearish market. If 1460 is taken out then i will need to reevaluate. GL with your trade!!
Well, I was wrong. But that rally is probably still coming. Once we struggled with those 1420s, I remarked in a chat that only retail was buying. But, I didn't expect this reaction so quickly. Even if we take out 1460, I'm going to stay bearish LT. I might end up long tomorrow morning, but this should be a sucker's rally. Good luck man!
Hi, are you currently flat on es? Thanks.
ReplyDeleteHi,
DeleteYes I am flat ES.
short is not the right way at this moment. I regret I didnt see it earlier...
GL
Hey buddy, saw your post on disqus and I agree. You're looking for 1450. I'm looking for 1500+ from here. I think we can still have a gap down tomorrow, but today or tomorrow is the bottom.
ReplyDeleteI do sound bullish here, but I think the long-term bear comes after this rally and this rally will take some time. I keep seeing the usual suspects getting long-term bullish from here and they are the same people I normally fade when they get IT bullish or bearish. Last week they wouldn't shut up and today they are very quiet. I expect even more dumb money to pile in long over the next month.
Other than that, there just hasn't been much to say over the last several weeks. A very choppy downtrend.
Hi Darren,
ReplyDeleteYes I agree we are not ready for the real down leg, some more time needed. 1450 is pretty sure shot, from there on I expect slow but clear bearish market. If 1460 is taken out then i will need to reevaluate.
GL with your trade!!
Well, I was wrong. But that rally is probably still coming. Once we struggled with those 1420s, I remarked in a chat that only retail was buying. But, I didn't expect this reaction so quickly. Even if we take out 1460, I'm going to stay bearish LT. I might end up long tomorrow morning, but this should be a sucker's rally. Good luck man!
DeleteProbably good idea to cover some shorts here around ES 1343 .
ReplyDeletegl
Now that bulls have gotten their 100pts run it is time for more "truth" IMO.
ReplyDeleteGL and Merry Christmas to everyone.
muhahahha
Delete