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 Strategies & Market Trends | E-Mini Pit

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To: the-phoenix who started this subject9/12/2002 3:25:04 PM
From: the-phoenix   of 11288
 
Volume on the 5 minute bar where ES hit S2 shows what Brandon calls the "Big Stupid". Highest volume bar of the day on a relatively long red candlestick.

Anyone shorting there earns the nickname.

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To: the-phoenix who wrote (6981)9/12/2002 3:39:27 PM
From: Louis V. Lambrecht   of 11288
 
Big stupid?
On rare occasions, spoo traverses S2. These rare occasions are when the S2 is hit near the close of the markets.
We'll see.

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To: Louis V. Lambrecht who wrote (6982)9/12/2002 3:48:35 PM
From: the-phoenix   of 11288
 
Bracketing my trade now - stop out at 890 or take profits at 883. Rat-tail, or whipped dog tail?

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To: the-phoenix who wrote (6983)9/12/2002 3:53:32 PM
From: Louis V. Lambrecht   of 11288
 
Loose your own money all by yourself! LOL.

Betting on a baad close.
Don't remember your entry, but today I would risk to sell at 16:00 (never know what "after close" announcements can be).

I would put a stop some ticks above 17EMA5, 888+

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To: the-phoenix who wrote (6980)9/12/2002 4:04:36 PM
From: Triffin   of 11288
 
LOL ..

Looks like she spends her vacations a lot how I spend mine.

That wouldn't be "glued to the monitor"
now would it ??

Jim in Ct ..

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To: the-phoenix who wrote (6977)9/12/2002 4:09:21 PM
From: the-phoenix   of 11288
 
SMASAR short closed at 4PM at 886.75 for +5.5.

Holding 21SMAX60 short from 899. Indicated stop is currently at about 903.

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To: Triffin who wrote (6985)9/12/2002 4:09:52 PM
From: the-phoenix   of 11288
 
Sick, isn't it?

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To: the-phoenix who started this subject9/12/2002 8:11:53 PM
From: the-phoenix   of 11288
 
eLocal lowers commissions to a flat $5.99 RT:

EFFECTIVE MONDAY, SEPTEMBER 16, WE WILL BE REDUCING OUR COMMISSION RATE TO ALL EXISTING AND NEW CLIENTS TO $5.99 PER ROUND TURN, ALL FEES INCLUDED AND NO VOLUME REQUIREMENTS.

WE ARE CONFIDENT THAT THIS REDUCTION IN YOUR DIRECT TRADING EXPENSES WILL HELP TO INCREASE YOUR TRADING PROFIT MARGINS.

BEST REGARDS AND GOOD TRADING
Jeffery C. Ganis
eLocal

At $3 a side, this is a significant closing of the gap with the deep discounters like IB. Given the platform and service that eLocal provides, I think this is a superior choice, unless one trades hundreds of contracts a week and to whom price is everything.

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To: the-phoenix who started this subject9/13/2002 6:17:15 AM
From: the-phoenix   of 11288
 
Exited my ES short this morning at 882 support for +17 points. I can't trade this morning and it being Friday, I decided to take profits. Several analysts that I follow are looking for a correction to the selling today. This from Toni Hansen:

"Going into the end of the week we have seen a reversal take place on the daily charts off the 20 day sma and Commodity Channel Index resistance at zero. Intraday though we are now in the middle of the third wave of selling off Wednesday's highs. Typically we only see three waves of selling in an intraday trend before the trend must make a larger correction if it is going to continue. This would make me uneasy to be doing much on the short side for new swingtrades and would lead me towards looking at daytrades only on any short until I could get a more favorable entry. If you are already in from the mid-week reversal then it's not as big of a deal unless you want to protect partials. Basically, I feel that there is a good shot at a reversal day tomorrow, at least for just the day. Daily charts aren't weak enough or at enough support for me to be looking for a larger reversal just yet."

hardrightedge.com 

And this from Ed Downs:

"The [SPX] got the downside move that we expected, closing the day at the session lows. The Daily Chart continues to imply a move lower in the medium term, but a short term upmove may occur ahead of the longer term downmove. Watch the upper trend line in the 15 Minute Chart."

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To: the-phoenix who started this subject9/13/2002 8:32:14 AM
From: the-phoenix   of 11288
 
08:31 ET PPI unchanged vs +0.2% consensus; core -0.1% vs +0.1% consensus :
08:30 ET Retail Sales +0.8% vs +0.5% consensus; ex-auto +0.4% vs +0.1% consensus :

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