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#FuturesTrades May 8th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+11.80	+60.40	+1191.60
$1,180	$6,040	$119,160

Current Performance Record

Intermarket Analysis

Trader Workstation and Profit/Loss Statement

Today's WRB Analysis: The afternoon trading session that's the day before a FOMC interest rate announcement usually contains profitable trade opportunities along with giving some early clues about market expectations going into tomorrow's FOMC Announcement.

I started the afternoon with some small size trades until I started seeing the higher lows with contracting volatility.

That's when I decided to increase my position size on the next bullish pattern signal (I did) to exploit the market expectation going into tomorrow's interest rate announcements as shown in the below chat log for the trade @ 12:38pm est.

The WRBs that helped setup the bullish pattern signal was the White WRB @ 12:10pm est and the Dark WRB @ 12:24pm est via the 2min chart in which a small white line after the Dark WRB lead into the contracting volatility within the s/r zone of both WRBs.

The only problem (trade execution error) I had today was exiting the ADD contract too soon after the 12:38pm est trade because that ADD was designed to be held overnight going into tomorrow's Open.

General Strategy Info: Currently, I'm exclusively trading the Russell 2000 Emini ER2 futures even though my strategies are applicable and profitable on all the trading instruments listed towards the bottom of this webpage along with my past trade journals showing consistent profits in other trading instruments prior to exclusively trading Emini Futures ER2.

In addition, I use a rule based (no subjectivity) methodology via my best strategies involving WRB Analysis. However, there are other key variables integrated with WRB Analysis that involves simple concepts of intermarket analysis, market seasonal tendencies, volatility analysis, support/resistance zones and position size management along with custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades. Also, I use the user name NihabaAshi in the below trade posting chat log.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Tue May 08 09:23:42 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:23

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<NihabaAshi> Good morning all 09:24

* subq_ market profile charts for today 09:25

http://www.charthub.com/images/2007/05/0 8/er2_mp_rth.png

http://www.charthub.com/images/2007/05/0 8/es_mp_rth.png

<Brutus> Morning

* subq_ http://www.charthub.com/images/2007/05/0 8/nq_mp_rth.png 09:26

http://www.charthub.com/images/2007/05/0 8/ym_mp_rth.png

is now known as subq

<PapaJon> gm all 09:29

<NihabaAshi> I recently contacted the +40 traders that have NEVER log in once into #FuturesTrades out of +80 register members...The commonality among their reasons for not showing up after they requested access is that my introduction email specifically states this is NOT a signal calling room nor are there guru traders in here :)

<pat255> lol...everyone wants gurus... 09:30

<NihabaAshi> I didn't realize "signal callers" are that popular and I need to make it "more clearer" prior to registeration this is not a signal calling room.

<pat255> there is no holy grail...rather learn & share 09:31

<jperl> what? this is not a signal calling room....

<pat255> oh my red indices...

<jperl> I leaving.....

lol

<NihabaAshi> :)

<pat255> buy this p/b

<NihabaAshi> I knew we were in trouble today when I saw Eurex BUND bounce off its intraday lows yesterday and then it closed higher. 09:32

<pat255> L 829.5

<NihabaAshi> However, that deep gap down took away some Short opportunities at the Open :(

<pat255> stop 829..

<NihabaAshi> Thus, I'm NEUTRAL instead of being bearish.

<Brutus> EMT did you hold that afternoon short? 09:33

<pat255> dangerous ...@office

<eminitrader> no B

rarely hold o/n

<Brutus> ok

<jperl> weekly ER2 VWAP 827.53 09:35

<pat255> stopped ..:(

<jperl> -3rd STdDEv of yesterdays VWAP 832.50 09:38

nothing else between those two points

<NihabaAshi> I will be paying more attention to this afternoon 09:42

price action because tomorrow is FOMC announcement day.

Trading Edge:
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If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management with a money back guaranteed policy...click here.

Trading Strategies -> These strategies, from entry to exit, will exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments via WRB Analysis: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<pat255> tomorrow pm? fomc

<NihabaAshi> Hopefully, some clues will appear this afternoon to help with tomorrow

trading around the FOMC Announcement. 09:43

Yep, tomorrow at 2:15pm est

<pat255> ty

<NihabaAshi> Then on Thursday there's the BOE Announcement and ECB Announcement for the foreign markets.

Thus, I'm looking forward to Weds, Thurs and Fri trading sessions. 09:44

Good volatility.

<eminitrader> Long ES @ 1509 09:45

<NihabaAshi> ER2 drop smells like a stop runner. 09:46

<eminitrader> Exited all ES Long @ 1508 --> - 1 09:47

<RussellDaytrade> may bounce here, first buy-to-close hit, I have scaled buys in place under mkt 828,5-825.4...accts at all times highs again. YIPPEE! 09:48

<NihabaAshi> Long ER2 @ 827.90 -> small size

<jperl> ER2 took the bounce between weekly and monthly VWAPS

827.02 to 827.53

<eminitrader> Long ES @ 1508 09:49

<szubaark> Buys NQ @ 1899.25 «« paper »»

<NihabaAshi> Exited all ER2 Long @ 828.10 --> + 0.2 09:53

<eminitrader> Exited all ES Long @ 1508 --> 0

<NihabaAshi> I was looking for a fast easy trade of +5 ticks and it didn't happen :(

<RussellDaytrade> 828.52 at 8:06 09:54

oops, 829.52

I expect it to bounce more than that, actually 09:55

<jperl> Here's the 2 minute chart showing the bounce off the VWAPS....

<RussellDaytrade> long in the l/s, still short one in the s/o acct, a little keepsake

<jperl> http://charts.dacharts.com/2007-05-08/JP ERL_0113.png 09:56

<NihabaAshi> Oil, Gold are down and there seems to be a "flight to quality" in the Treasury Futures even though they look stagnant (nor much price action) after the Open. 09:58

I would like to see Treasuries move higher to fill in their Down GAP that occurred at the Open. 10:00

That will help me become more bearish on the Eminis if Oil and Gold goes down too.

<pat255> thks niha... 10:01

<Brutus> Long ER2 @ 826.3 «« paper »» 10:05

<jperl> we head into the abyss 10:07

<pat255> yes we are jper..

<Brutus> Long ER2 @ 825.2 -> Add «« paper »»

<jperl> there is a big black hole here

1 week -1st STdDeb at 819.41 10:08

<NihabaAshi> Shorts ER2 @ 825.20 -> small size

Covered 1/2 ER2 Short @ 824.60 --> + 0.6 10:09

<pat255> later guys ...meetings sigh

<Brutus> Long ER2 @ 824.2 -> Add «« paper »» 10:10

<NihabaAshi> Covered Remainder ER2 Short @ 824.80 --> + 0.4 10:15

<szubaark> Exited all Long NQ at 1894.50 --> - 4.75 «« paper »» 10:18

Shorts NQ @ 1894 «« paper »»

<Brutus> Exited all ER2 Long @ 825.4 --> + 0.3 «« paper »» 10:25

<NihabaAshi> Long ER2 @ 825.90 -> small size 10:28

Exited 1/2 ER2 Long @ 826.50 --> + 0.6 10:29

By the way, all "intuition" trades so far today for me.

<szubaark> Covered all Short NQ at 1898 --> - 4 «« paper »» 10:36

:((

<NihabaAshi> Exited Remainder ER2 Long @ 827.00 --> + 1.1 10:38

Holding 1 contract

Exited Remainder ER2 Long @ 826.50 --> + 0.6 10:41

<ItalianSharp> EUROFX making new lows...

is this perhaps an anticipation of what's coming tomorrow and thursday?

<NihabaAshi> Yep, it and Forex EurUsd gave a big time Sell signal in the overnight price action.

<ItalianSharp> or some profit takin on EURO for those who've been long for a while? 10:42

<NihabaAshi> Ahhh....could be.

<jperl> peak volume ER2 now 826.50 10:45

<ItalianSharp> looking at other crosses, it looks like the Euro has been slammed hard today

<jperl> VWAP 826.86 10:46

this mornings trades here.... 10:47

http://charts.dacharts.com/2007-05-08/JP ERL_0114.png 10:48

<RussellDaytrade> http://s138.photobucket.com/albums/q277/ RussellDaytrade2/?action=view&current=er 5-8-07.jpg 10:50

results of closed trades today in the s/o acct...results in l/s acct are virtually identical 10:51

net pfts in each acct are approx 1000-1200 over previous hwm 10:52

<eminitrader> Long ES @ 1508 10:55

Exited all ES Long @ 1508 --> 0

Long ES @ 1508

Long ES @ 1506.50 -> Add 10:56

Exited all ES Long @ 1506.50 --> - 1.5

Long ES @ 1506.25

llarge position ...looks like possible support for a spike

Exited 1/3 ES Long @ 1507.25 --> + 1

Long ES @ 1506.50 -> Add

Exited 1/3 ES Long @ 1508 --> + 1.5

be back

Exited 1/3 ES Long @ 1508.25 --> + 2 11:01

<Brutus> EMT what happened with all the posts at 10:56?

<eminitrader> ??? 11:02

<Brutus> Seems like the server delayed your posts

<eminitrader> k

<Brutus> Put 12 posts out in a row 11:03

<eminitrader> i had no posts @ 10:56

<RussellDaytrade> I just thought you're a hell of a fast typer.

<eminitrader> was out for a smoke :)

<Brutus> EMT whats your age or a range will do

<eminitrader> 40 to be precise 11:04

<Brutus> OK i'm 32

<eminitrader> hey what posts u reffering to ..cld u paste them

<Brutus> at 10:56 there was 12 posts from you in a row 11:05

server delay I presume

I wanted to keep that long trade but for a big move, but hit the panic exit 11:06

<eminitrader> was expecting a pullback 1508-1510 11:08

<Brutus> If I had seen your trades It would have helped to stay in it, oh well.

<eminitrader> was looking to short 1509 ..

i'm confused here B...which posts r u refering to? 11:09

<RussellDaytrade> EM, lemme do a screenshot, and post it to photobucket with a link, gimme a couple minutes 11:10

<eminitrader> thx rd

<Brutus> All your posts from 1508 long to 1506.25 etc got delayed to 10:56

<eminitrader> i had an exit on that trade 1.5 loss :(( 11:11

<RussellDaytrade> http://s138.photobucket.com/albums/q277/ RussellDaytrade2/?action=view&current=EM posts.jpg 11:12

<eminitrader> then had a reentry @ 1506.25 exit 3 @ 1507.25

add to long @ 1506.50 ...exit 3 @ 1508 11:13

then exit 3 @ 1508.25

and now holding 4

<Brutus> WHen I do adds on ER I start small and increase size with each add if it looks 'right'

So this does not reflect the profits accurately

<eminitrader> i wanted to hold my original position for a 3 pionter so the add was just 3 contracts ...the lot i had an exit... 11:14

rd ru on west coast time? 11:16

looks like mountain time

<RussellDaytrade> I am in Fort Colins, CO, north end of the front-range, timezone heree is MNT, right now the time is 9:21...sunny 11:17

Fort Collins 11:18

if memory serves, you are in the Detroit area?

<eminitrader> got u..but B was right these were posted late by the server cause the times on my screen dont match with the 10:56 11:19

<RussellDaytrade> yes, they came in in a 'rapid-fire' fashion

<eminitrader> let me paste my posts as per whats on my screen

[10:04] <eminitrader> Long ES @ 1508

[10:08] <eminitrader> Long ES @ 1506.50 -> Add 11:20

[10:18] <eminitrader> Exited all ES Long @ 1506.50 --> - 1.5

[10:21] <eminitrader> Long ES @ 1506.25

[10:22] <eminitrader> llarge position ...looks like possible support for a spike

[10:21] <eminitrader> Long ES @ 1506.25

[10:22] <eminitrader> llarge position ...looks like possible support for a spike

[10:21] <eminitrader> Long ES @ 1506.25

[10:22] <eminitrader> llarge position ...looks like possible support for a spike

[10:27] <eminitrader> Exited 1/3 ES Long @ 1507.25 --> + 1 11:21

[10:44] <eminitrader> Long ES @ 1506.50 -> Add

[10:54] <eminitrader> Exited 1/3 ES Long @ 1508 --> + 1.5

[10:54] <eminitrader> be back

[11:01] <eminitrader> Exited 1/3 ES Long @ 1508.25 --> + 2

<Chilly> test 11:22

Long ES @ 1508.00 «« testing »»

Exited all ES Long @ 1508.00 --> 0 «« testing »»

<eminitrader> i had no posts @ 10:56 11:23

well anywasys not worth spending more time on this 11:24

<RussellDaytrade> ghost in the machine

<asuni> [10:56:14] <eminitrader> Long ES @ 1508

[10:56:15] <eminitrader> Exited all ES Long @ 1508 --> 0

<eminitrader> lol

<asuni> don't know if u aret alking about them 11:25

<eminitrader> 10:54 - 11...was out for a smoke...surely a ghost :))

[11:21] <eminitrader> [10:54] <eminitrader> be back

<RussellDaytrade> I really was impressed with your fast typing skills. :) still am!

<eminitrader> he he he

<Brutus> NQ is very bullish vs ES 11:27

<Chilly> Help .. new computer ..how do I set a timestamp for the ongoing log?

<asuni> chilly, options

<eminitrader> reason for holding my position B

<asuni> messages

flagon timestamp events 11:28

<eminitrader> hope thre nq pulls the es...

<asuni> if u want seconds too write HH:mm:ss

<Chilly> Thanks so much, Asuni

<eminitrader> but looks like both ES and nq due for a pullback... 11:29

<Brutus> Yeah I'm thinking its possible ES may close the gap by EOD

<asuni> np chilly

<eminitrader> bot my stops @1506.25 look safe now 11:30

<jperl> ER2 peak volume now 827.30

VWAP 826.90

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)

<RussellDaytrade> lifting, that may be an interesting dynamic that with observation, will repaet over many intraday cycles 11:31

the peak volume, I refer to.

<jperl> 2 minute chart update showing VWAP congestion zone.... 11:36

http://charts.dacharts.com/2007-05-08/JP ERL_0115.png

when I get bored.... 11:37

I sometimes like to do scalps in this region

<Chilly> ES resistence at 1508.75 (Fib .618) .. needs to make up its mind soon 11:42

<Brutus> Global stock indexes, look at china 11:50

http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={b595c 760-9c97-4d23-a11e-cd380e2929d1} 11:51

Dax down 1.1%

<RussellDaytrade> sell everything and buy China? 11:52

<Brutus> You are already buying China RD, cant be helped :) 11:53

Can someone post a chart for the china CBN 600 and Shanghai B 11:55

I mean link

<RussellDaytrade> yeah, was gonna sk you yesterday when you posted consumer credit, whats my China debt bill currently standing at? hey, they're an industrious bunch, whaddya expect...looks like industry will flow to where labor rates and availability ofr an inexpensive labor force are plentiful...I think of it as, they're in heat, no stopping the natural order of things. 11:57

<Brutus> http://www.thestreet.com/newsanalysis/te chnicalanalysis/10352427.html 12:00

good article on Shanghai B 12:01

<RussellDaytrade> hmmm, too much parallels to ignore in them charts. 12:02

<NihabaAshi> Shorts ER2 @ 827.00 -> small size 12:03

1 contract only

<Brutus> hmmm looking more like new lows in the PM if 1506.75 holds 12:06

Would expect it to swing up to 1509+ first 12:07

<eminitrader> was that for me B ? 12:09

<NihabaAshi> :(

That's ER2 :( 12:10

<Brutus> especially for you e :))

just some thoughts

<NihabaAshi> Shorts ER2 @ 827.60 -> Add 12:11

<eminitrader> k my thoughts - ES obviously in a trading range - for long gap fill - it shld break 1511 ...chances look good if 1509 is taken out 12:13

for sell 1506.25 shld be taken out

which way will it go - that i dont know as of now...but i'm rooting for the bulls 12:15

<NihabaAshi> Covered all ER2 Short @ 828.00 --> - 1.4

Long ER2 @ 828.20 -> small size 12:19

Tough trade because I'm Long in some resistance. 12:20

Exited ER2 Long @ 827.60 --> - 0.6 12:22

Reverse and Enter Short ER2 @ 827.60

<RussellDaytrade> follow-on thoughts to the China mkt parallels...I wonder if the possibility that China mkts crack, will spill-over to US mkt, and others, like earlier this year? was that earlier swoon a shot across the bow? 12:26

makes me wanna re-build that short trade

<Brutus> RD chart was for the Shanghai B and other bubble is Schenzen B I wonder how much market cap it is 12:32

Although the CBN 600 is up 90% this year 12:33

<NihabaAshi> ER2 volatility dropping fast...I'm now expecting a volatility spike.... 12:34

Hopefully in the direction of my trade.

<RussellDaytrade> good question, likely relatively small capitalization, all up, relative to the US, and other major world mkts...equtes to good value for those wishing to implemnent a 'tail wagging the dog' bear raid on world mkts.

<NihabaAshi> Covered all ER2 Short @ 827.60 --> 0 12:35

<Brutus> If it crashes then US hedge funds will go down in droves 12:37

<NihabaAshi> Long ER2 @ 828.00 -> medium size 12:38

:) 12:39

<asuni> great niha :-)

<eminitrader> Exited 1/3 ES Long @ 1509.50 --> + 3.25 12:41

holding 1 12:42

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)

<NihabaAshi> Exited ER2 Long @ 829.20 --> + 1.2 12:43

Holding 2 contracts

<RussellDaytrade> well, that would be like getting twice the bang for your buck! two good 'stories' in one to pressure mkts lower...could happen.

<NihabaAshi> Exited ER2 Long @ 830.10 --> + 2.1 12:48

Holding 1 contract

Long ER2 @ 830.20 -> Add 12:49

Exited 1/2 ER2 Long @ 831.10 --> + 0.9 12:50

Still holding 1 contract 12:51

[09:42] <NihabaAshi> I will be paying more attention to this afternoon 12:52

[09:42] <NihabaAshi> price action because tomorrow is FOMC announcement day.

When I saw the higher lows..l.I knew it was time to increase my position size. 12:53

Exited Remainder ER2 Long @ 832.50 --> + 4.5 12:55

<RussellDaytrade> bingo! 832.6 , early , thats ok

<karsat> hi 13:08

hi everyone

can any one see me? 13:09

I'm getting disconnected every min

tired of reconnecting

looks like no one is able to see my conversation

<Chilly> hey karsat

<karsat> hi chilly

<eminitrader> Exited Remainder ES Long @ 1511.75 --> + 5.5 13:13

<Brutus> Nice trades E and N 13:14

<eminitrader> thx B

<RussellDaytrade> looks like you're getting that trading machine dialed back in EM

<eminitrader> :) 13:15

<Brutus> E with your trading improving you looked at some stats for holding trades (majority contracts) longer for maximum profitability? 13:16

When you trade for a larger swing

<eminitrader> no B...scaling out was on from my first winning trade 13:17

what i improved upon and am still working is trying to hold for as long as possible... 13:18

sometimes i look at booking in a profit at a res level and then re-enter my position for the profit targeted on original entry...sometimes it backfires 13:20

<Chilly> holding onto winners is one of my main problems 13:22

entered this morning on test of low at 1506.75 and bailed at 1508 13:23

lost my conviction and then my nerve to reenter and paid price for nice entry 13:24

<eminitrader> think its a pb with even a very good trder chilly ...

but it never hurts to get out on a profit ..whatevet it maybe... 13:25

<Chilly> indeed EM :)

<eminitrader> guess its experience that helps in holding for longer periods 13:26

<Chilly> and in cutting losses quicker

<Brutus> Thats right e but what I'm saying with you was to see a shift in holding a larger position to the final exit ie next you bump to 2 contracts etc 13:27

Just a thought :)

<eminitrader> no it never was meant to be B...maybe i was misread 13:28

my orignal target on all longs this am was the gap fill...orugunal meaning my final or target level 3 13:29

target 1 and 2 were fib level pullbcka 13:30

whai ii,m trying to say is i did not hold on to target 3...and this happens to me ... 13:31

<Brutus> OK

When i was buying 825 I was looking for gap fill as well :(( 13:33

<eminitrader> reason being i thoght of getting out at this level and re enter on a pullback and since the flow is now towards a trend towards the gap fill..so a low risk trade

<Brutus> What I am working towards is indentifying the high volatility days, like today 13:35

Then indentifying possible turning points like on the ER this morning

<eminitrader> k

<Brutus> Then look for possible targets like a gap fill and extend say a nominal range for the ES in such a setup 13:36

Then hold with a resonable stop

<eminitrader> tough part is iding the turning pts 13:37

<Brutus> I may get stopped out but the big winners will more than compensate

That right e so you do need some system, but some days we are more sure of such moves right 13:39

<eminitrader> true B 13:40

<Brutus> Ive seen some days you make a good call ie very bearish bu then you are holding only 1 contract when the ES has only gone 5 pts down 13:41

Just a thought e dont mean to break em. 13:42

<eminitrader> :) 13:43

same today B ...my final exit was on just 1 contract 13:44

always good to moke more money ...but i am measuring my goals/improvements by the # of points irrespective of the # contracts... 13:46

this is in a way kinda forcing me or testing my patience in holding at least 1 contract for my final target 13:47

<Brutus> ok ic 13:48

<eminitrader> i'm hoping this wld eventually help me hold more size

<RussellDaytrade> well, actually B, along that line of reasoning, ( I had plenty of time to think the past several days while awaiting for word from the Governor), it strikes me how unusual, indeed, don't hink I ever seen it, that traders ADD to winning trades, let alone hold the bulk of position size til it has achieved a fuller target objective. this includes myself... 13:49

amzing how being 'stuck' in a trade can assist in some mkt interpretations. :) 13:50

<Brutus> I did a trade about a month back that I added to winner 2 time and it worked out well RD 13:51

<RussellDaytrade> excellent B. that-a-way

<Brutus> When it was doing what I had envisioned

<RussellDaytrade> if this reaches 829.6 it'll fufill my target for this small leg retrace, fairly close now, close enuf, about 5 late 13:52

<Brutus> Yo may have also seen a shift in my trading to more trend following, though this may not be so obvious yet 13:53

But soon in the next few months you will see what I mean

<RussellDaytrade> no, not as apparent here, thats ok, good move.

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 13:54

<RussellDaytrade> possible 827.5 on the larger swing model 13:55

<eminitrader> Long ES @ 1510.50 14:04

<Brutus> Heres what I mean by ES range, The Es has done 6 pts so far 1506 to 1512... 14:06

So reasonable to expect 10 pts so Es should either hit 1516 or 1502

<eminitrader> :)) 14:07

<Brutus> Its basic but wondering If you guys or gals think in such ways? 14:08

<eminitrader> no i dont B 14:09

<Brutus> All that fib turned your mind into mush :)) 14:10

<eminitrader> be back

<RussellDaytrade> I think in terms of ranges, particularly ranges relative to each other, or, preceding prices moves...do it all day long. 14:12

equation = if this happens, thenm I expect that to happen 14:13

<eminitrader> Exited 1/3 ES Long @ 1512.50 --> + 2 14:16

late ..i think by a couple of min 14:17

<RussellDaytrade> lol 14:18

<eminitrader> next target is 1514

got filled while on my smoke break :))

<RussellDaytrade> building new short wide scales

(wider than last time!) 14:19

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<NihabaAshi> Since Thursday of last week...the volatility in ER2 has contracted very nicely. 14:31

If today's range doesn't expand further, I'm expecting big volatility day tomorrow on FOMC Announcement day. 14:32

In fact, I'm expecting "more volatility" than we normally see for an FOMC Announcement.

Simply, I'm looking for a very big trade tomorrow. 14:33

<Brutus> I'm seeing that as well Niha

RD stock markets reaction to disaster 14:37

http://i147.photobucket.com/albums/r287/ BoyBrutus/Sock_market_disater_chart.jpg

Forget the source

<RussellDaytrade> nbo doubt we will see more instances, (saw one 2.5 months ago, a little mini swoon, mini from the standpoint of any 'news' associated with it) 14:45

<GoodMood> what kind of disaster was "USS Maine" ? 14:48

<Brutus> http://en.wikipedia.org/wiki/USS_Maine_% 28ACR-1%29 14:50

refers to 1886 I belive 14:51

sorry 1898

I'm sure Jesse Livermore made a killing on it :)) 14:53

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 15:03

<jperl> ER2 buidling up a lot of volume in the 831.50 area 15:09

present peak volume is down at 827.30....

but it looks like 831.50 is about to be the new peak 15:10

will call it quits for today.....trades are here.... 15:11

http://charts.dacharts.com/2007-05-08/JP ERL_0116.png

<Brutus> Long ES @ 1513.25 «« paper »» 15:44

Exited ES Long @ 1513 --> - 0.25 «« paper »» 15:58

<eminitrader> Exited Remainder ES Long @ 1513.50 --> + 3 16:00

<RussellDaytrade> way to talk it up today everyone, thx 16:07

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 16:15

* DisconnectedSession Close: Tue May 08 16:29:21 2007 16:29

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