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#FuturesTrades June 20th Wednesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+8.40	+174.80	+1555.20
$840	$17,480	$155,520

click on image to view actual size

Current Performance Record

The New Trader's Tax Solution

Profit/Loss Statement

General Chat Room/Log Info: The above points along with profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Also, #FuturesTrades is free to any trader and I am the only trader in #FuturesTrades that represents TheStrategyLab.com

My main function in #FuturesTrades is to be the moderator and I use the chat room as more eyes on the markets to help prevent missing critical market info that have impact on my trades.

#FuturesTrades is not a signal calling chat room and all users are required to post at least one trade (real money or simulator) per day of use.

General Strategy Info: Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

However, I use 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.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets in the world.

To learn more about my methods, the links below will provide the info you need.

Trading Reports (fee-based content for traders that want access to our reliable/profitable strategies)

WRB Analysis Tutorials (free and fee-based content to help improve your own strategies)

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.

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: Wed Jun 20 09:26:19 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:26

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

<PapaJon> gm all

<jperl> ER2 VWAP pivot points for this morning....

http://charts.dacharts.com/2007-06-20/JP ERL_017.png 09:27

purple lines are yesterdays and 1 weeks peak volume prices

<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) 09:28

<Awash> good morning all 09:30

* Desert_Flen is now known as Fleneer 09:33

<base> gm all

<werner> gm all 09:35

<eminitrader> Long ES @ 1549.75 09:43

<NihabaAshi> Today's Key Market Events: FED speeches @ 11am est, 1215pm est and a 1030am est EIA Petroleum Status Report 09:45

<eminitrader> Exited all ES Long @ 1549.75 --> 0 09:47

Long ES @ 1548 09:49

<intowin> long ZG 661.20

<eminitrader> Long ES @ 1547 -> Add

Long ES @ 1546.75 -> Add 09:52

Exited 2/3 ES Long @ 1547.50 --> + 0.75 09:53

thats b/e on the 2 lot s.....holding 5 long from 1646.75 09:54

<NihabaAshi> Long ER2 @ 856.20 -> small size 09:56

intuition trade

<eminitrader> Exited 2/3 ES Long @ 1548.25 --> + 0.25

holding 2 09:57

<NihabaAshi> I got some chart problems...may not be a wise trade.

<eminitrader> Long ES @ 1546.25 -> Add 09:59

<NihabaAshi> Exited ER2 Long @ 855.00 --> - 1.2

Reverse and Enter Short ER2 @ 855.00

<eminitrader> Exited all ES Long @ 1445.50 --> - 203.25 10:00

<les> Shorts ER2 @ 854.5

<eminitrader> Exited all ES Long @ 1545.50 --> - 2.5

<NihabaAshi> 1 contract trade

<eminitrader> thats -1 on 5

<Awash> Shorts ES @ 1544 10:02

<les> Covered 1/2 ER2 Short @ 853.5 --> + 1 10:03

<Awash> covering because of no signal

Covered all ES Short @ 1543.75 --> + 0.25

<NihabaAshi> Covered ER2 Short @ 853.20 --> + 1.8

WRB Analysis

Learn More

<les> Covered Remainder ER2 Short @ 853.2 --> + 1.3 10:04

<Awash> bearish trend on ES, sell off from HOD and prior highs, Lower Highs visible on charts 10:08

watching 1546.50 area for pullback 10:09

<jperl> ER2 at yesterdays VWAP 853.53

<NihabaAshi> Shorts ER2 @ 854.00 -> small size 10:18

1 contract only

1030am est EIA Petroleum Status Report about 10 mins away. 10:20

Volatility has already started getting choppy.

<eminitrader> Shorts ES @ 1546 10:21

<NihabaAshi> Covered ER2 Short @ 853.90 --> + 0.1 10:22

<eminitrader> Covered all ES Short @ 1546 --> 0

Long ES @ 1545 10:26

<NihabaAshi> Long ER2 @ 853.30 -> small size 10:27

2 contracts only

<Awash> Shorts ES @ 1546.25 10:28

<eminitrader> Exited 1/2 ES Long @ 1546.50 --> + 1.5 10:29

<NihabaAshi> Exited 1/2 ER2 Long @ 854.40 --> + 1.1

<eminitrader> Exited ES Long @ 1547.75 --> + 2.75 10:30

Reverse and Enter Short ES @ 1547.75

<Awash> Covered all ES Short @ 1547.75 --> - 1.5 10:31

<NihabaAshi> Exited Remainder ER2 Long @ 855.30 --> + 2

Oil pushing down hard

<wizardofrijnsaterwou> olie slips

<NihabaAshi> Yep...I'm also a little surprised the Eminis pushed upwards on that big drop in Oil. 10:33

Especially since I got a bullish signal in Oil prior to its drop :(

<eminitrader> Shorts ES @ 1549.50 -> Add 10:34

<jperl> ER2 @ VWAP 855.50 10:35

<eminitrader> Covered ES Short @ 1549.25 --> - 1.5 10:42

Reverse and Enter Long ES @ 1549.25

Exited 1/2 ES Long @ 1550.50 --> + 1 10:43

Exited Remainder ES Long @ 1549.25 --> 0 10:45

<jperl> ER2 peak volume now 855.70, VWAP 855.50 10:50

done for the morning.....trades here.... 10:58

http://charts.dacharts.com/2007-06-20/JP ERL_018.png

top portion (white) are trades with IB

<RussellDaytrade> I'm getting 860.92, my nearby target fulfilled a little while back 10:59

<jperl> bottom portion (black) are trades with MBT

<NihabaAshi> jperl...why are you using two brokers at the same time ? 11:00

Which is better for you?

<jperl> position trades only with MBT

<NihabaAshi> Ahhh...ok. 11:01

<les> Long ER2 @ 856.2 «« paper »» 11:03

<NihabaAshi> Shorts ER2 @ 856.20 -> small size 11:05

1 contract only

<les> Long ER2 @ 855.8 -> Add «« paper »» 11:08

<NihabaAshi> ER2 volatility declining at the first FED speech of the day (11am est) 11:11

Covered ER2 Short @ 854.80 --> + 1.4 11:12

* szubaark is now known as szubaark_away 11:13

<venedom> gm

<eminitrader> Long ES @ 1546

<venedom> is there any news out?

<NihabaAshi> [11:11] <NihabaAshi> ER2 volatility declining at the first FED speech of the day (11am est)

<ItalianSharp> we also have New York Fed President Geithner at 11.30am 11:18

<NihabaAshi> Oil still getting clobber. 11:26

<eminitrader> Long ES @ 1546.25 -> Add

now holding 10

Exited 1/3 ES Long @ 1547.75 --> + 1.5 11:28

<Awash> Emini, you had support in the 1546 area? 11:30

<eminitrader> yes ..stop @ 1545

<intowin> 50% retrace

nice play

<venedom> Shorts ER2 @ 854.1 11:31

<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)

<eminitrader> no past 60% ...but had my ma's around there ....my last line of support

thx itw

<Awash> 200MA? 11:32

<eminitrader> no ..79 ma and 89 sma 11:33

<Awash> k

Long ES @ 1547.25 «« paper »» 11:34

<eminitrader> Exited Remainder ES Long @ 1546.25 :( --> + 1546.25 :( - 1546 11:35

<Awash> Exited all ES Long @ 1545.25 --> - 2 «« paper »» 11:36

<NihabaAshi> Shorts ER2 @ 852.40 -> medium size 11:37

<venedom> Covered all ER2 Short @ 851.90 --> + 2.2 11:38

<NihabaAshi> Covered 2/3 ER2 Short @ 851.90 --> + 0.5

<eminitrader> FYI - we can expect to see a bounce off the ma's the first time price tests it ...but if there is no follow thru on this bounce and price comes back to brek the mas then there is real selling pressure - thats how i trade my ma set-up 11:39

<Awash> k

<eminitrader> selling in this case ...cld be the opposite on a bullish day ...meaning price comes back but does not brek it ...meaning buying pressure outweighs selling pressure ... 11:40

<NihabaAshi> Covered Remainder ER2 Short @ 852.20 --> + 0.2 11:46

<pat255> hi guys .. 11:49

puter prob all am...:(

nice S this am .. 11:55

<NihabaAshi> Long ER2 @ 852.00 -> small size 11:56

<les> late post, sorry... 11:57

got called away and forgot...

<Awash> watching LOD bounce on ES

<les> Exited Remainder ER2 Long @ 855.1 --> - 1.8 «« paper »»

<eminitrader> no need to apologize les :)) 11:58

<les> yeah, well some folk get shirty about this... thx anyway

<venedom> good its paper

<eminitrader> its ur trade so ur call if and when u want to post it

<venedom> Long ER2 @ 851.50

<les> well was trying an idea, so that one would never be live :)

btw.. it was a lousy idea 11:59

y'd never have guessed

<venedom> Exited all ER2 Long @ 852 --> + 0.5

* les is now known as lesAway 12:00

<eminitrader> Long ES @ 1544.25 12:03

2 only

<NihabaAshi> Exited ER2 Long @ 851.30 --> - 0.7 12:04

Reverse and Enter Short ER2 @ 851.30

Added 1 contract for a total of 2 contracts

<eminitrader> Exited all ES Long @ 1542.75 --> - 1.5

NQ holding well @ support so far 12:06

<Awash> some slight index divergence between S&P & Dow

<NihabaAshi> Covered 1/2 ER2 Short @ 850.60 --> + 0.7

<Awash> higher low on Dow, no test of LDO

LOD

<NihabaAshi> Covered Remainder ER2 Short @ 851.10 --> + 0.2

<venedom> Shorts ER2 @ 851.20 12:07

tight stop 12:08

exit stop set ER2 @ 851 12:09

<Awash> ES PA showing consistent lower highs since attempting to retest HOD around 9:45am CST

<venedom> Covered all ER2 Short @ 851 --> + 0.2

<eminitrader> Long ES @ 1543 12:12

Exited 1/2 ES Long @ 1544 --> + 1 12:14

Exited 1/3 ES Long @ 1545 --> + 2 12:15

<NihabaAshi> Long ER2 @ 852.10 -> small size

1 contract only

<eminitrader> holding 1

<venedom> Shorts ER2 @ 852 12:16

exit stop set ER2 @ 852.60 12:17

<NihabaAshi> I'm still having data problems and because of such will continue keeping my position size small around 1-2 contracts (mostly 1 contract trades).

<venedom> what r u using NIHA?

<eminitrader> abt time u think abt cahnging ur data provider niha...u seem to have a lot of pbs with the data compared to any of us 12:18

<NihabaAshi> I just got one of those headaches that tells me its time to eat :) 12:19

Exited ER2 Long @ 852.30 --> + 0.2 12:21

Be back later

* NihabaAshi is now known as NihabaAshi_lunch

<venedom> Trailing Stop Hit ER2 @ 852.60 --> - 0.6

<NihabaAshi_lunch> venedom...its an ISP problem that's causing my data stalls in FutureSource and QCharts. 12:22

<venedom> remember dial up? 12:24

<pat255> anyone using 2 machines or more on a router? 12:27

<venedom> y 12:31

<pat255> ever have prob with network cable ?

<venedom> no

6 machines here on router 12:32

what problem 12:33

<pat255> oh my ...this is the 3rd time my network cable had problem..

<venedom> Shorts ER2 @ 853 -> small size 12:38

Covered all ER2 Short @ 852.8 --> + 0.2 12:39

<eminitrader> be back ..stop @ b/e 12:40

<venedom> luch time c u later 12:49

<intowin> bbl 12:57

* codehead_afk is now known as codehead 13:16

<ItalianSharp> anyone trading this fall? 13:26

<pat255> no is ...had a smal L ..lost 1 pt ..

<eminitrader> wow missed the move

<ItalianSharp> i caught two shorts on the fly, markets were pushing really hard

<eminitrader> Exited Remainder ES Long @ 1543 --> 0 13:27

late post

lpooks like that happened when NQ broke the support area

<ItalianSharp> yes, NQ and YM broke that support at the same time 13:28

nice price action today

<Awash> just got back 13:33

nice down draft

<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) 13:34

<Awash> sell limit to enter short ES @ 1541.25 13:41

<Brutus> Awash the strength in YM and NQ bouncing above prev AM low - looks long imo 13:49

<Awash> k 13:50

<Brutus> But may still runs stops on the low a tick or two b4 reversing

<Awash> i did note that ES closed gap from 6/14 close and bounced 13:51

<Brutus> yes thats right 13:52

<Awash> plus we have a higher low forming

<Brutus> Seems to have been the target

<Awash> no fill yet on entry

canceled all open orders 13:54

sell limit to enter short ES @ 1541.25 13:58

<eminitrader> Shorts ES @ 1540.75 14:02

<Awash> lowering entry to 41 14:03

<eminitrader> expect a surge to the upside if 1541.75 is taken out ...fyi

<RussellDaytrade> oh no!, EM, you still wanna squeeze more blood outta this turnip? :) 14:04

<eminitrader> lol

<jperl> ER2 Weekly VWAP seems to holding.....

second day in a row

http://charts.dacharts.com/2007-06-20/JP ERL_019.png 14:05

<Awash> Shorts ES @ 1541 14:07

<eminitrader> Covered ES Short @ 1541.75 --> - 1 14:08

Reverse and Enter Long ES @ 1541.75

<Awash> Covered all ES Short @ 1542.50 --> - 1.5 14:09

<eminitrader> Exited 1/2 ES Long @ 1543.25 --> + 1.5

* lesAway is now known as les 14:11

<eminitrader> Exited Remainder ES Long @ 1541.75 --> 0 14:14

<neo> Shorts ES @ 1542.5 «« paper »»

exit stop set ES @ 1543.5 «« paper »» 14:16

target is 1536 area if lucky 14:18

<pat255> nice entry neo...dang missed gain

<eminitrader> looks like the story of ur life pat... 14:19

seeing u miss so many trades....

gotto do somethimg abt this

<pat255> yes em...did not c th S...& mkt moving up ..let go 14:20

<eminitrader> Long ES @ 1539.75

Exited all ES Long @ 1539 --> - 0.75 14:21

was like lightning :(

<Awash> yep

<eminitrader> Shorts ES @ 1539 14:22

<Awash> seems like shorts should work when the overall trend is dwon

but they're tough to manage

<eminitrader> Covered all ES Short @ 1539 --> 0 14:23

<RussellDaytrade> er relative strength, small comfort, but it is a glimmer

<eminitrader> very rightly said A

;0

<RussellDaytrade> compared to the es

<neo> exit stop lowered ES @ 1540.5 «« paper »» 14:25

<eminitrader> Long ES @ 1538.50

going ct

Exited all ES Long @ 1537.50 --> - 1 14:26

nice trading Neo 14:27

<Awash> very nice Neo

milk this market

<neo> damn waited for 1436.5

<eminitrader> u never go broke taking a profit ...however small :)) 14:28

<neo> Covered all ES Short @ 1538 --> + 4.5 «« paper »»

<eminitrader> very nice

<RussellDaytrade> part of somethin's better'n all of nothin 14:29

<neo> thanks especially from a pro like you :)

<eminitrader> ther u go RD :)

<RussellDaytrade> one of my faves

<NihabaAshi_lunch> Long ER2 @ 849.90 -> small size 14:30

* NihabaAshi_lunch is now known as NihabaAshi

<eminitrader> reason i like ur trade was ...i was looking @ 1544-1546 for a entry to sell u got in @ 1542.59 and held it thru the noise ...i wldn.t have wven if i was in the trade 14:31

<neo> well maybe i could hold it its because it was a paper trade 14:32

<NihabaAshi> :( 14:34

Exited ER2 Long @ 849.50 --> - 0.4 14:35

Reverse and Enter Short ER2 @ 849.50

Covered ER2 Short @ 848.40 --> + 1.1 14:37

<neo> damn i fear a possible closing at low of the day 14:40

but selling at these level is much like lottery 14:41

<eminitrader> Long ES @ 1536.50 14:42

Long ES @ 1536 -> Add 14:43

now holding 5

<neo> if 1535 holds i think ur fine :)

<RussellDaytrade> I ahve an up target of 851.6, but today, the selling is unrelenting, so I would be surprised , very surprised, if it happens or approaches it

<eminitrader> think it will hold..shld see a pullback here 14:44

Exited 2/3 ES Long @ 1538.50 --> + 2.5 14:47

holding 2

<neo> i have problem entering a countertrend position - timing is very tight - i lost a lot playing like that 14:48

<eminitrader> i got burnt on the earlier one ...but u r correct...key is the timing

<neo> ya i recall same story trading like u - 1-2 losing tries and the last one i didn't tried was the good ... 14:49

<eminitrader> yeah i know how it goes...gone thru that 14:50

<neo> yep when u got the small account u can't accept 3 possible loses in row ... 14:51

<eminitrader> specially if they r ct trades 14:53

<RussellDaytrade> larger structure target is 853.82, at approx 13:54...just for grins. if gathers steam anew and breaks lows with vigor, new structure develops

<neo> so until i got a bigger account i try to avoid opening a ct pos

<eminitrader> around 20% of my trades r ct in the true sense...and of these around 80% r to the long side...i try to keep to this ratio 14:54

Exited Remainder ES Long @ 1537.50 --> + 1 14:56

<neo> ct are for ppl who can react quickly and don't have problem with cutting a losing pos 14:58

<eminitrader> Shorts ES @ 1537.75

2 only 14:59

<neo> i lost stupidly a bunch of $$ because i could'nt decide to cut my losing ct pos .. 15:00

<eminitrader> Covered 1/2 ES Short @ 1535.75 --> + 2 15:03

<RussellDaytrade> man, you are doing a good job of swinging from vine-to-vine today. :) 15:04

<eminitrader> thx rd.. 15:06

but my size has been reduced considerably this pm 15:07

<RussellDaytrade> good day for it too, really in phase with the flow

<eminitrader> yep ...but like A mentioned its kinda hard to hold on during such volatility with a large no of contracts 15:08

Covered Remainder ES Short @ 1535.75 --> + 2 15:11

Long ES @ 1535.75 15:12

1 only

Exited all ES Long @ 1534.75 --> - 1 15:13

with that i.m done for the day .....

<werner> nice work em 15:14

<eminitrader> thx W

<pat255> well done em...t

<eminitrader> thx pat 15:15

still think there is a long here ...looks like a bit oversold

<RussellDaytrade> well done

<eminitrader> thx rd

<neo> you sure are a successful scalper Eminitrader 15:16

<pat255> em i willnow keep 1 pt stop on es no more .. 15:17

<eminitrader> SP key support was 1522 ...with that broken i think can see a overall correction on the ES ...or at least this sets the first stage...for larger players to think abt their long positions

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)

<RussellDaytrade> on an intraday, or closing basis? 15:18

<eminitrader> thx neo...took me a long long time to get there

<RussellDaytrade> it broke 1522 intraday

<pat255> good pint em...L will think nw

<eminitrader> pat ...do ur own analysis before taking athe trade ...those were just my thoghts ... 15:19

<werner> how long em?

<pat255> yes but makes ssense..

<eminitrader> 5+ years neo 15:20

<werner> aha thnx em

<eminitrader> yeah RD ...intra day ..but it closes below that cld make it even more eventfull

<werner> here 4 years now

<eminitrader> sorry W ...it was ur reply 15:21

<pat255> no S covering this late ..

<werner> np :)

<eminitrader> how r u doing now W 15:22

<werner> better thanks

<eminitrader> started being b/e in my 4th year....not becuase i was trading better ..but began to trade smarter ...same method with no changes in the system... 15:23

sounds crazy but its true...

<werner> yes thats the same here em 15:24

<eminitrader> then u know what i mean :)

<werner> my englisch is not so well for a quick response

yes indd ;)

<eminitrader> looks like today will set the day for a significant correction in the summer ...at least it looks like a high probability 15:25

<neo> hmm EM statistically is it good to enter long on low of day + close for a possible OVN recover ?? 15:26

<eminitrader> i'm talking abt the ES only

no o/n for me neo....dont hold ...expect when i'm up ...but that too on a very very rare basis 15:27

<neo> k

<eminitrader> i wonder how the mrkt will react if SP closes above 1522 15:28

or near there

<werner> gn all 15:30

<eminitrader> guys have a look at this...

http://stockcharts.com/h-sc/ui?s=$NASI&p =W&st=2004-10-02&id=p33166755083&a=10368 3204&listNum=2

<Awash> non-stop selling this afternoon 15:33

<eminitrader> yep

looks like it started wit thr es and spread to nq and ym

<Awash> yep, ES dragged every index down

<eminitrader> and now it broke key support 15:34

<neo> ah scenario of closing on low/near low is confirmed

<Awash> hopefully this can carry over tomorrow

<eminitrader> thats what i was reffering to A yest when u asked abt the long term view...

<Awash> i know 15:35

we retested 1554 early this morning and failed

<eminitrader> where i mentioned the res @ around 1540 on the SP which correlates to abt 1555-160 on the ES

<Awash> it's like the bigger players were executing short positions in that area for a few days before pushing it lower

<eminitrader> supp area was 1522 on the SP which is now taken out 15:36

shld be intresting the next few days

<Awash> wait, support on the full size contracts

SP? 15:37

<eminitrader> yep

<Awash> you watch the full contract for s/r and only trade the ES? 15:38

mini

<eminitrader> just the daily and weekly ..for key supp/res

<Awash> k 15:39

<eminitrader> pat - hope u closed the long ?

<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) 15:40

<neo> damn what a crash 15:43

<eminitrader> cld see a nice bounce from here 1523-1528 area 15:44

obviously not today

<RussellDaytrade> bear dream day 15:45

<eminitrader> yep

<neo> sure

<eminitrader> es is approximately twice down of what the dow has fallen 15:46

<neo> with a day like this the worse could be to trade tomorrow with a low vol/narrow/resting day 15:49

<NihabaAshi> Shorts ER2 @ 842.70 -> small size 15:50

<neo> they fire all their shells today and tomorrow theres nothing left

<eminitrader> Long ES @ 1528

<NihabaAshi> :( 15:51

Covered all ER2 Short @ 842.70 --> 0 15:52

<eminitrader> Exited 1/2 ES Long @ 1529 --> + 1 15:53

<neo> EM where would you cut if things goes bad ?

<eminitrader> basically wanted to cover the earlier loss

holding 1

Exited Remainder ES Long @ 1528 --> 0 15:54

as i was typing :((

<NihabaAshi> Shorts ER2 @ 842.50 -> medium size

<eminitrader> wld have held it o/n if it closed around 1530-32 15:55

<NihabaAshi> Covered all ER2 Short @ 842.40 --> + 0.1

Geeesh...can't catch a break a quick push down. 15:56

<neo> damn Es managed to reach my 261% Fibo ...

<eminitrader> from where to where ? 15:57

mean the price pionts of the fibs 15:58

<neo> started from 1554 -> 1525.5

<eminitrader> no meant what high to what low did u calculate the fibs 15:59

<neo> thats a week move in one day

0% -> 1554

<eminitrader> l

k

<neo> 100% ->1543.2

with those 2 pts you get the other fibo levels 16:00

<eminitrader> k thx

<neo> np

<jperl> done for the day....an amazing day if I may say so

<eminitrader> :))

<jperl> http://charts.dacharts.com/2007-06-20/JP ERL_0110.png 16:01

<neo> hmm my 2 cents - if lucky we could have a chance to short tomorow near 1536 - 1539.5 or 1543 16:03

<RussellDaytrade> my have to frame that JP

<Awash> lots of selling pressure this afternoon

neo

<RussellDaytrade> well done!

<jperl> yes indeed

shorted the heck out of this market all day 16:04

<Awash> good job

<neo> ya market definetly has switched to bear but i was talking of a possible shorting if a pullback appears tomorrow 16:05

<Awash> k

<eminitrader> hold on guys ..one down day with brek of support does not mean mrkt has turned ..wld be wise to wait for the conformation..befor shorting the heck out 16:07

<Awash> of course not

we'll need carry thru (confirmation), thur & frid 16:08

but the selling was very aggressive this afternoon

with no pullbacks

almost noon after breaking PDL area

<NihabaAshi> Shorts ER2 @ 842.10 -> small size 16:09

<eminitrader> true..keep in mind this is nor the first time the mrkt tried selling off on heavy volume ...it always came back to make new highs

<NihabaAshi> More data problems...I'm done. 16:10

<eminitrader> :(

<NihabaAshi> Spent most of the day on a trend day either on the sidelines or trading scare with fear of getting stuck in a trade.

Covered ER2 Short @ 842.00 --> + 0.1

<eminitrader> tiring day ...see u all tomorow 16:12

<Awash> me too

good night all

* Awash is now known as Awash_away

<RussellDaytrade> cu too

<neo> k cu all 16:14

<NihabaAshi> Take care all and see all tomorrow 16:27

* DisconnectedSession Close: Wed Jun 20 16:35:02 2007 16:35

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