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#FuturesTrades October 16th Tuesday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+1.70	+173.00	+2843.50
$170	$17,300	$284,350

Profitable Trade

1013am - 1024am est

Losing Trade

1418pm - 1505pm est

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

General Strategy Info: The above 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.

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.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis (ex. Oil and Gold), market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, pattern signal, seasonal tendencies or intuition.

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 so that I'll have a better understanding of ER2 price action.

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: Tue Oct 16 09:30:42 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:30

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

<intowin> looks like we will get one 09:31

<eminitrader> Long ES @ 1555

<Dmi76> gm all 09:32

<werner> gm all 09:33

<intowin> cad still flying high

<bern> hi, gm

<eminitrader> Long ES @ 1554 -> Add

<les> Long ER2 @ 833.3 «« paper »» 09:35

<szubaark> Shorts ES @ 1553 «« paper »» 09:36

<pat255> man no sign of any buy'

<eminitrader> Long ES @ 1553 -> Add

now holding 10

<les> Long ER2 @ 833.9 -> Add «« paper »»

<bandr> short 33.00

33.90 stop

<NihabaAshi> Oil futures and Gold futures made a very impressive prive rise in the early morning trading session 09:40

"before 0930am est"

<eminitrader> Exited all ES Long @ 1552 --> - 4

* Disconnected

* Attempting to rejoin channel #futurestrades 09:43

* Rejoined channel #futurestrades

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

<les> script is screwy.. that only made + 1.0

<intowin> hated 09:44

<eminitrader> Long ES @ 1551.50 09:45

<bandr> 32.00 limit buy

<les> Covered all ER2 Short @ 830.7 --> + 1.2 «« paper »» 09:47

<eminitrader> Exited all ES Long @ 1552 --> + 0.5

<pat255> pattern says short all pops

<NihabaAshi_away> Shorts ER2 @ 831.00 -> small size

<les> Shorts ER2 @ 830.7 «« paper »» 09:48

<eminitrader> Long ES @ 1550.75 09:49

<les> Shorts ER2 @ 829.9 -> Add «« paper »»

<NihabaAshi_away> I currently have a lot of support on this short from other key markets...hopefully it lasts a little longer for a WRB pt1 target.

<eminitrader> Exited all ES Long @ 1551.25 --> + 0.5 09:50

<pat255> vn ...take the small profits on L side

<eminitrader> Long ES @ 1550.50 09:51

yes pat

<NihabaAshi_away> Covered 2/3 ER2 Short @ 829.80 --> + 1.2

got WRB pt1 09:52

Covered Remainder ER2 Short @ 830.90 --> + 0.1

Trading Edge:
Strategies
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, intermarket analysis with a money back guaranteed policy...click here.

Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<eminitrader> Exited 1/2 ES Long @ 1551.50 --> + 1

<NihabaAshi_away> :(

* NihabaAshi_away is now known as NihabaAshi

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 09:53

<eminitrader> Exited Remainder ES Long @ 1551.50 --> + 1

<pat255> vn em ...u have guts to take L...

<eminitrader> Long ES @ 1551.25

my brokers having a ball :) 09:54

<szubaark> :) 09:55

<eminitrader> Long ES @ 1551.25 -> Add

now holding 20

<szubaark> Looks like you getting a birthday card this year

<eminitrader> hehehe

Exited 1/2 ES Long @ 1552.25 --> + 1 09:56

<les> Covered ER2 Short @ 831.1 --> - 0.4 «« paper »»

Reverse and Enter Long ER2 @ 831.1 «« paper »»

<NihabaAshi> Long ER2 @ 831.90 -> small size 09:57

1 only because its a "chaser".

<bandr> out + 1

<eminitrader> Exited Remainder ES Long @ 1552.75 --> + 1.5

just abt b/e

<pat255> vn em...:)

<intowin> you work good under pressure 09:58

<eminitrader> thx pat ...some effort there

<pat255> yes ....but good ending ..

<Brutus> furious effort WGT E

<eminitrader> thx guys..

didn't want a bad start

<szubaark> Covered all Short ES at 1553 --> 0 «« paper »»

<eminitrader> Shorts ES @ 1553 09:59

Covered all ES Short @ 1552.50 --> + 0.5

now the commish 10:00

will take a breather

<bandr> short 31.60

<eminitrader> Shorts ES @ 1552

nice set-up ...hard to ignore

<les> Exited all ER2 Long @ 831.6 --> + 2.2 «« paper »» 10:01

cant be...

i reverseed in to short and posted re-entry as 31.1 10:02

<eminitrader> Shorts ES @ 1552.50 -> Add

holding 10

<les> exit at 31.6 should give me + .50

<NihabaAshi> Dark Hammer Line 2min ER2 chart

<les> not + 2.2

revrsed into a long actually, but arithmetic doesnt make sense

gonna reload mirc 10:03

<eminitrader> Covered 1/2 ES Short @ 1551 --> + 1.5

<ItalianSharp> come on emini...kick some butt already! 10:04

<eminitrader> Covered Remainder ES Short @ 1551.50 --> + 0.5

<szubaark> Buys ES @ 1551.75 «« paper »»

<eminitrader> :))

Shorts ES @ 1552.50 10:05

<NihabaAshi> Exited ER2 Long @ 830.70 --> - 1.2

Reverse and Enter Short ER2 @ 830.70

<szubaark> ES 5min Dark Hammer Line

<eminitrader> Covered all ES Short @ 1553 --> - 0.5

<szubaark> Exited 1/2 Long ES at 1553.25 --> + 1.5 «« paper »» 10:06

<NihabaAshi> 3 contract Short

<szubaark> exit stop moved to breakeven ES @ 1551.75 «« paper »»

watching ES Opening High Test 10:07

<eminitrader> Shorts ES @ 1554

<intowin> cant see it moving higher without busting 1550 stops

<eminitrader> may test the high 10:08

<szubaark> intowin they got All Day to do that :))

<NihabaAshi> Covered all ER2 Short @ 832.00 --> - 1.3

evil heads of the Dark Hammer Line :( 10:09

<les> Shorts ER2 @ 831.5 «« testing »» 10:10

Covered all ER2 Short @ 831.3 --> + 0.2 «« testing »»

<eminitrader> Covered all ES Short @ 1553.50 --> + 0.5

Shorts ES @ 1553.50 10:11

<les> Shorts ER2 @ 831.5 «« paper »»

<eminitrader> think new lows coming :))

<intowin> yep 10:12

<szubaark> Exited all Long ES at 1551.75 --> 0 «« paper »»

:(

<les> Covered 1/2 ER2 Short @ 830.3 --> + 1.2 «« paper »»

<bern> nq going the other way

<eminitrader> Covered 1/3 ES Short @ 1552 --> + 1.5

<NihabaAshi> Shorts ER2 @ 830.60 -> medium size 10:13

<bern> dax and stoxx ugly charts but dont loook weak

<NihabaAshi> trying again

<bern> smells chop suey

well, not now 10:15

<intowin> hehe

<bandr> 28.60 limit

<intowin> 50 another key area too

<bandr> buy

<eminitrader> Covered 1/2 ES Short @ 1547.50 --> + 6

<bern> happy for your shorts, i tempted a long in nq but did not yield much 10:16

<eminitrader> holding 2

<NihabaAshi> Covered 3/4 ER2 Short @ 828.40 --> + 2.2

<bern> vn

<bandr> all out + 3 done

<intowin> green now ey E?

<Brutus> nice trading

<NihabaAshi> caught a WRB pt1 exit

<intowin> probably a good area to go long

<szubaark> Shorts ES @ 1547.25 «« paper »»

<les> Covered all ER2 Short @ 828.8 --> + 2.7 «« paper »»

<eminitrader> oh yeah 2actually close enough to making back yest too

<jperl> done for this morning....trades here... 10:17

<les> er2 just got beyond yest lod

<jperl> http://charts.dacharts.com/2007-10-16/JP ERL_014.jpg

<eminitrader> Covered Remainder ES Short @ 1548.50 --> + 5

<NihabaAshi> If it's going to bounce (counter-thrust) back upwards... 10:18

This is a good price area for such to occur.

<les> yep

<intowin> agree

looking for a long myself

<eminitrader> agree...NQ still holding ...reason for my exit

<les> wouldnt be sirprised if it plunged again tho..

<eminitrader> k...now got to earn my living for today and yesterday .. 10:19

<szubaark> I missed good entry due to a phone call so i chased a little

<les> Shorts ER2 @ 828.8 «« paper »»

<NihabaAshi> A lot of probing occuring in this price area

"a few ticks up, few ticks down, few ticks up et cetera" 10:20

<bern> dax made a nice black candle reversal but it is still holding support at 8000 and not even testing lod

<jperl> ER2 approaching 1 month VWAP @ 827.62 10:21

<eminitrader> Long ES @ 1548.50

Long ES @ 1547.50 -> Add 10:22

<les> Covered 1/2 ER2 Short @ 828.1 --> + 0.7 «« paper »» 10:23

<NihabaAshi> Family distraction...I need to go do some personal stuff... 10:24

Covered Remainder ER2 Short @ 828.50 --> + 2.1

Be back later.

<les> Covered Remainder ER2 Short @ 828.4 --> + 0.4 «« paper »»

* NihabaAshi is now known as NihabaAshi_away

<eminitrader> Exited 1/2 ES Long @ 1548.50 --> + 1

Exited Remainder ES Long @ 1547.50 --> - 1 10:25

<les> Shorts ER2 @ 827.7 «« paper »» 10:26

<intowin> sure wish I was not out of Pepsi in the fridge. Dont do coffee 10:28

<les> h2o any good?

<intowin> no caffein

<les> oh, tea then 10:29

<Tim_a1> ice tea is good

<les> iced cofee still my favourite

<eminitrader> Long ES @ 1547,25

<Tim_a1> lipton now has cold brew picher bags - great 10:30

<les> Covered all ER2 Short @ 829 --> - 1.3 «« paper »» 10:32

:(

Long ER2 @ 829 «« paper »» 10:33

<eminitrader> Exited 1/2 ES Long @ 1548.25 --> + 1548.25 - 1547,25

dont know abt that ...its just a piont 10:34

<intowin> used a comma in your entry post

istead of .

<eminitrader> k thx itw

<intowin> be back running to store real quick 10:35

<eminitrader> Exited Remainder ES Long @ 1549.25 --> + 1549.25 - 1547,25 10:36

same again :) 10:37

Exited Remainder ES Long @ 1549.25 --> + 1549.25 - 1547,25

Exited Remainder ES Long @ 1549.25 --> + 1549.25 - 1547,25

well anyways ...done for now

<les> Exited 1/2 ER2 Long @ 829.3 --> + 0.3 «« paper »» 10:40

Exited Remainder ER2 Long @ 828.8 --> - 0.2 «« paper »» 10:42

oops

Exited Remainder ER2 Long @ 829 --> 0 «« paper »»

* bern is now known as bern_away 10:43

<les> finished for 2day 10:53

cyal all tomorrow

<Brutus> cu

<szubaark> Covered all Short ES at 1554 --> - 6.75 «« paper »» 11:32

:((

Buys ES @ 1554 «« paper »»

Stupid Short traderight at the low of day 11:33

Exited all Long ES at 1552.50 --> - 1.5 «« paper »» 11:48

Shorts ES @ 1552.50 «« paper »» 11:49

<Nesi> short YM 13998 11:54

short ER 832

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 11:59

<Brutus> 10/16/2007 11:50 *DJ OIL FUTURES: Nymex Crude Hits New Record $88/Bbl 12:01

10/16/2007 11:54 DJ Tsy Paulson: No Federal Backstop For Massive Conduit

<intowin> Long ES @ 1550.25 12:13

<szubaark> Covered 1/2 Short ES at 1550.50 --> + 2 «« paper »»

exit stop moved to breakeven ES @ 1552.50 «« paper »»

* codehead_afk is now known as codehead 12:23

<Tim_a1> diamonds/megaphones on es/er/ym? 12:38

<szubaark> Covered all Short ES at 1552.50 --> 0 «« paper »» 12:43

<intowin> Exited 1/3 ES Long @ 1552.25 --> + 2 12:46

everyone was looking for a pop then drop this am. Looks like it will come late 12:52

<Brutus> Jelly Beans are wonderful for signals. 12:55

Pull out these and do this.

1. RED, sell short

2. Green, buy long

3. Yellow, exit all open positions

4. Orange, Double up position

5. Black, Visit the mother in law, be nice as pie, soon your account might blow up and you will need a place to stay.

:))

1300/1700 Oct NAHB Housing Market Index 12:56

Housing Market Index 20

<Guest35179> short 832.3 13:00

out 831.6 +.7 13:01

short 831.8 13:03

out 831.2 +.6

<intowin> Exited all ES Long @ 1550.50 --> + 0.25

still feels up but protecting long 13:04

<Nesi> market feels VERY vulnerable so far..imho 13:08

getting ugly...imo

<intowin> 1549.25 breaks I go bearish

oops

thats why its wise to protect your trades

smell anything E? 13:22

<eminitrader> short since 1552

<intowin> nice

<eminitrader> target 1546 and then maybe ..just maybe a tenner

<Brutus> what time did u go short E? 13:23

<eminitrader> around 1 pm est B

<Brutus> thx

<eminitrader> out half

<intowin> You know your required to stay in here and post all your trades right? : ) 13:24

<eminitrader> lol..

* NihabaAshi_away is now known as NihabaAshi

<eminitrader> reason is with my voip..whenever there is a large size move...meaning large size trades ...my charts r freezing.. 13:25

so the first thing i do is get off mirc whenever i sense that happening.. 13:26

<intowin> your conected on the internet through voip?

<eminitrader> thgtt i got that fixed with my new router but looks like i gotto work it out with my phone provider 13:27

yes itw

<Guest35179> short 830.7 13:31

out 830 +.7 13:32

<Nesi> how do you like E cry system, Guest? 13:33

is it stable?

<Guest35179> it's been stable so far, occasional disconnects but reconnects immediately

<Nesi> thx

<eminitrader> Long ES @ 1550 13:35

<NihabaAshi> Long ER2 @ 832.20 -> small size 13:36

punks

Didn't get a fill at 831.90 and that forced me to use market order 13:37

<eminitrader> Exited all ES Long @ 1550.50 --> + 0.5 13:39

<intowin> u out of the balance of your short E?

<eminitrader> yes b that was a reversal @ 1559 13:40

meant 1550

<intowin> yep

<eminitrader> Long ES @ 1550 13:41

looks like the low is in...will hold for a gap fill...with 6 tick stop 13:42

go baby go :) 13:45

<NihabaAshi> WRB pt1

<eminitrader> exit stop moved to breakeven ES @ 1550

<NihabaAshi> Exited all ER2 Long @ 832.20 --> 0

<eminitrader> Exited all ES Long @ 1550 --> 0 13:47

:(

<szubaark> geez, 2 points up and two points down

Impossible to get any runners going 13:48

<eminitrader> in less than a minute

very true szu..

Long ES @ 1550

<szubaark> re-test of 1548 Again? 13:49

<eminitrader> last 2 trades r 5 lot

<szubaark> weird, we keep getting lower highs on ES 13:50

Im not quick enough to be able to scalp in a 2point Range. 13:51

Or Disciplined enough should i say.

<eminitrader> Exited ES Long @ 1549.50 --> - 0.5 13:53

Reverse and Enter Short ES @ 1549.50

<NihabaAshi> Dark Hammer Line 2min ER2 chart 13:54

<szubaark> Those hammers are no fun :)

<NihabaAshi> Dark Hammer Lines are the most tricky of the Hammer family 13:55

<eminitrader> Covered ES Short @ 1549.50 --> 0

Reverse and Enter Long ES @ 1549.50

last trade..4 tick stop ..5 lot 13:56

<szubaark> This type of day makes Brokers Day.

<eminitrader> loke i said earlier szu...brokers day today

<szubaark> Or if you a Experienced scalper with Latest Technology and Speed Equipment. 13:57

<Guest35179> long 831.1 13:58

<eminitrader> Exited 2/3 ES Long @ 1550.50 --> + 1

<Guest35179> out 831.5 +.4

<eminitrader> Exited Remainder ES Long @ 1550.50 --> + 1 13:59

have a good one all...see u tomorow 14:00

<Guest35179> short 831.5

<Brutus> 10/16/2007 14:00 *DJ Discount Minutes:Conditions Seen Having Contractionary Effects

<intowin> too choppy taking profits home 14:01

cu

<Guest35179> out 830.7 +.8

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 14:02

<Guest35179> short 831.

correction 831.3

out 831.8 -.5 14:04

short 832 14:05

<NihabaAshi> Wow...

crazy chop

<Guest35179> out 831.6 +.4

<NihabaAshi> That volatility spike should have held above the 832.00 very easily. 14:06

<bern_away> and european stock markets have been also like that most of the day

prior to us open

* bern_away is now known as bern

<Guest35179> short 831.7

<Brutus> 10/16/2007 14:02 GEN: Fed says four district banks favored 1/2 point cut in September in minutes - Fed says five district banks opposed 1/2 point discount rate cut and that Philadelphia wanted no change to the rate. 14:07

<Guest35179> out 831.7 0 14:08

<Tim_a1> 1557 es would make a diamond 14:10

<szubaark> i want a turqoise 14:13

<Tim_a1> diamonds are nasty patterns

<NihabaAshi> Shorts ER2 @ 832.10 -> small size 14:14

trying something new via intuition 14:15

Covered ER2 Short @ 832.80 --> - 0.7 14:18

Reverse and Enter Long ER2 @ 832.80

:( 14:19

Long ER2 @ 831.60 -> Add 14:20

added 2 contracts

Geeesh...what did you guys do to this market while I was gone :) 14:21

DAX not looking so good right now. 14:30

ER2 is at a WRB now. 14:32

It has retraced every WRB so far in this chop 14:33

Long ER2 @ 839.90 -> Add 14:34

<Brutus> 839

<NihabaAshi> I'll correct it later 14:35

correcting now

Exited 1/2 ER2 Long @ 839.90 --> 0 14:36

Long ER2 @ 829.90 -> Add

:( 14:38

volatility spike... 14:39

first one since I've been back

<Guest35179> long 829.4 14:42

out 829.7 +.3 14:43

<Brutus> 10/16/2007 14:44 *DJ OIL FUTURES: Nymex Crude Settles At Record $87.61, Up $1.48 14:45

<Guest35179> long 829.6 14:51

<Brutus> feels long bt think es may get stops at LOD then a very strong rally to close 14:52

<Guest35179> out 830 +.4

<NihabaAshi> 3pm est is almost upon us. 14:58

That means the clock starts ticking against my position :(

Everything in place for a decent counter-thrust back upwards...ER2 not responding so far :( 14:59

tic toc tic toc 15:01

<Guest35179> long 829.6 15:02

out 829.6 0

<NihabaAshi> Guest...are you using time (minute) charts or tick or VB charts ??? 15:03

<Nesi> feels to me ER aiming to 827 area 15:04

risky gut feel on my part

<NihabaAshi> Exited 1/2 ER2 Long @ 829.40 --> - 0.5 15:05

Exited Remainder ER2 Long @ 829.40 --> - 3.4

<Nesi> IF IF i am right.. i feel ER will print 825 826 area at or before close

<NihabaAshi> That was one exit but the script will mess up the math on it had I only posted once. 15:06

<Guest35179> i'm using 15 min chart and scalping on the dom

<NihabaAshi> Shorts ER2 @ 828.40 -> large size

Another WRB...hopefully it won't try to retrace it. 15:07

<Nesi> feels like big pressure building up to drill 826.50...my guess 15:08

what i see now..its the momo for the ER to close under 825

risky intuition guess...fwiw 15:09

<NihabaAshi> I only got about an hour of trading and hopefully it doesn't return to chop...

consistent rising volatility showing up now.

<Nesi> imho..Niha, i see we see momo till close..

this momo going on now...probably will take ER day low..imo 15:12

if i am right.. probably vol will increase faster

here we go probably 15:13

825 826 very soon...IMHO

<NihabaAshi> geesh :( 15:14

<Nesi> risky intuition feel.. Niha ..i may as well be wrong :/

<Brutus> Long ER2 @ 828.4 «« paper »» 15:15

<NihabaAshi> Covered all ER2 Short @ 828.60 --> - 0.2

Another market order after not getting a fill at 827.50 15:16

:(

<bern> have had enough of this market . see you tomorrow

* bern is now known as bern_away

<Nesi> bye bern

<Brutus> Exited ER2 Long @ 828.7 --> + 0.3 «« paper »» 15:17

<jperl> ER2 has been stuck at the 1 month VWAP all day.....see chart...

http://charts.dacharts.com/2007-10-16/JP ERL_015.jpg

<Nesi> here it comes again to take day low 15:18

<Brutus> crazy *A

PA

<Nesi> come on..this time should take it...

<NihabaAshi> Shorts ER2 @ 827.70 -> large size

<jperl> blue line is the VWAP

<NihabaAshi> sorry...late post

<Brutus> Long ER2 @ 827.7 «« paper »» 15:19

Exited 1/2 ER2 Long @ 828.7 --> + 1 «« paper »»

<NihabaAshi> Can't get order fills down in that 827.40 - 827.70 price area...

Using market orders for this chop :(

<Nesi> 824 area and i am a happy lucky camper :)

<Brutus> be stp 15:21

<NihabaAshi> Shorts ER2 @ 828.40 -> Add 15:22

lost my morning profits so far :(

<Brutus> it gonna explode

<Nesi> feels like fake to me 15:23

<Tim_a1> dont generous limit orders get filled faster? 15:24

<NihabaAshi> volatility trying hard to get going but it gets the rug pulled from under its feet as soon as it gets going.

"generous" ???

<Tim_a1> meaning well above ask or vice versa

<Brutus> Exited ER2 Long @ 829.1 --> + 1.4 «« paper »» 15:25

<NihabaAshi> you meant once hit it becomes a market order ??? 15:26

<ItalianSharp> prices very jumpy

<Nesi> very

<ItalianSharp> looks like FOMC

without its volatility of course

very exhausting trading i must say

<Tim_a1> it has the effect of a market order 15:27

<Nesi> kinda ER feels tired at 829 area..IMO

<Brutus> jumpy at these levels means no conviction of the shorts

<ItalianSharp> guess buyers and sellers havent figured out who is to win the battle

<Tim_a1> dome shape

<ItalianSharp> they are exchanging punches

<Nesi> jumping like this .. it may very well be at 827 area in a minute 15:28

flipping a coin here :)

<NihabaAshi> I've had some trades set to become market orders once a price is hit and other times I want out at a particular price while others I've manually enter a market order.

<ItalianSharp> i must say mkts are slightly bearish...yet whenever new lows are approached, big money comes in to support them

<NihabaAshi> sometimes there are "generous" on the MO by 1 - 2 ticks.

:) 15:29

Other times (like yesterday) I goet the worst of it by 3 ticks on two particular trades using a MO

<Tim_a1> yesterday, megaphone, today a dome

it wants to go down, but with nobody short 15:30

<Nesi> bears winning a bit so far...

<NihabaAshi> volatility just had the rug yanked out again...

<ItalianSharp> there is another push down in the cards IMO

<NihabaAshi> Not sure how long it will last with the chop.

<Nesi> come on ...take that day low..please 15:31

gezzz

<NihabaAshi> Covered 1/2 ER2 Short @ 827.80 --> + 0.6 15:32

Don't have much time remaining for trading... 15:33

needed to take that profit to get back into the plus column

<Brutus> Long ER2 @ 828.5 «« paper »» 15:34

<NihabaAshi> Covered Remainder ER2 Short @ 828.70 --> - 1 15:35

<Brutus> Exited 1/2 ER2 Long @ 829 --> + 0.5 «« paper »»

Exited all ER2 Long @ 828.5 --> 0 «« paper »» 15:36

<ItalianSharp> its amazing how bad volatility has been this afternoon

usually, when volatility is this bad after a couple of down days...

it means the big boys are buying and building positions for an upmove

<NihabaAshi> Well...the only good thing about that is that it sets up for a great trading day for tomorrow.

<ItalianSharp> yep... 15:37

i agree niha

<NihabaAshi> Unless we get some strong overnight price action that GAPs big time tomorrow...up or down to negate the morning volatility.

Long ER2 @ 829.70 -> medium size 15:38

volatility spike...probably won't last like all the others. 15:39

Exited all ER2 Long @ 829.80 --> + 0.1

Yep

<Brutus> Long ER2 @ 829.3 «« paper »» 15:40

<Tim_a1> boy you called that one right

<Brutus> Exited ER2 Long @ 829.3 --> 0 «« paper »»

thx 15:41

<ItalianSharp> wow niha...amazing how you got out of trouble there 15:42

it's like a winner trade to me..:) 15:43

<NihabaAshi> I'm starting to adapt to the volatility now but its a little late in the game for today.

:(

Simply, I don't have much confidence in these volatility spikes.

tighten the stop as soon as it goes your way :) 15:44

That's what I'm now doing.

<pdays> they are to narrow and no volume

<ItalianSharp> i am sure that if you had 2 extra hrs, you could do some damage to this market

the hardest part of trading is adapting to changing market conditions 15:45

know when to have larger stops as opposed to when cut it short...same with reversing positions etc

<NihabaAshi> Shorts ER2 @ 829.40 -> medium size

:( 15:46

got my order in

lets see if I get a fill

<Nesi> nice, going your way..N 15:49

<NihabaAshi> Will I get my fill...that's the question :)

<Nesi> yes...you will :)

<NihabaAshi> Covered all ER2 Short @ 828.30 --> + 1.1 15:50

<Brutus> Long ER2 @ 828.3 «« paper »»

<Nesi> vn

<Brutus> gonna hold for a closing spike

<Nesi> intel after hours..fwiw 15:51

<Brutus> Exited 1/2 ER2 Long @ 829.3 --> + 1 «« paper »»

Exited all ER2 Long @ 828.3 --> 0 «« paper »» 15:52

<NihabaAshi> still in the red :( 15:53

tic toc tic toc

<Brutus> thanks Nesi I think its going to rally AH its my take on this afternoons price action

<Nesi> maybe ..yes 15:54

6 minutes to go

hope it loses 828 :)

"hope" key word :)

<Brutus> theres been enough crash and 10% drop threads the last few days 15:55

<NihabaAshi> volatility dead again

<Brutus> one big bear trap 15:56

<NihabaAshi> Lets see if it spikes here soon as it normally would when volatility conditions are normal.

<Nesi> i feel the other way.. spike down ..:/

<NihabaAshi> I just want it to have a volatility spike...

<Brutus> Long ER2 @ 828.3 «« paper »» 15:57

<NihabaAshi> Direction it goes is not important to me.

4pm est price spurt is around the corner 15:58

<Brutus> INTC YHOO IBM 15:59

<Nesi> thanks guys

<NihabaAshi> Shorts ER2 @ 827.60 -> medium size 16:00

Not much of a spike :(

<Brutus> Exited ER2 Long @ 827.8 --> - 0.5 «« paper »» 16:01

============ U.S. MARKETS ACTION ===========

DJIA down 72.43 points to 13912.62

NASDAQ down 15.01 points to 2765.04

S&P 500 down 9.17 points to 1539.53

10-year T-note up 8/32 at 100 25/32 yield 4.648

NYMEX Spot Crude up $1.48 at $87.61/bbl at close

Dollar/Euro down 0.0048 at 1.4163 16:02

http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={69a11 2d5-2a81-41e6-82e1-fd804d859d9e}

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 16:05

<NihabaAshi> I need 827.00 to finish profitable for the day...will be tough to get with volatility slowly coming to a crawl. 16:06

Covered all ER2 Short @ 827.40 --> + 0.2 16:07

<ItalianSharp> niha, is today actually a losing day for you?

how long has it been?

must be something like over 6months right?

<NihabaAshi> Since mid April I think

<ItalianSharp> :) 16:08

<Nesi> amazing

<ItalianSharp> wow...that's really amazing

<NihabaAshi> I need like $190 bucks right now...

<ItalianSharp> and you were 4 ticks close to finish profitable

<NihabaAshi> Anybody want to loan me 19 ticks :)

<ItalianSharp> dont get stubborn on getting in the green

kick some ass tomorrow

<Nesi> :)

827.10 held and held..uh

<NihabaAshi> Long ER2 @ 827.30 -> small size 16:09

<Brutus> 10/16/2007 16:08 *DJ Intl Business Machines 3Q Rev $24.12B Vs $22.62B, +6.6% >IBM

<werner> gn all 16:10

<NihabaAshi> I may stay and trade after it reopens at 4:40pm est :) 16:14

I'm determine to show green for the day before the statement cut off

<Brutus> 10/16/2007 16:14 *DJ Intel 3Q Rev $10.09B Vs $8.74B, +15% >INTC

<Nesi> nice INTC

<Brutus> nq up ES dwn

<NihabaAshi> Exited all ER2 Long @ 827.70 --> + 0.4 16:15

<Brutus> well?

<NihabaAshi> not enough...I may be back...not sure.

<Brutus> :( dont worry it does not matter

cul8r 16:16

<NihabaAshi> It's also a seasonal tendency time period...

I'm suppose to be trying to establish a swing trade...

Didn't get the opportunity today for such :( 16:17

Hopefully sometime this weekend something shows up that merits a swing position.

Long ER2 @ 830.20 -> small size 16:33

Got my profit :) 16:37

<Nesi> congrats :)

<NihabaAshi> Exited all ER2 Long @ 830.90 --> + 0.7 16:38

took awhile for the confirmation...

For a awhile I thought it was going to be another "no fill" :(

<Nesi> so, green day , right? 16:39

<NihabaAshi> Yeah...technically yes.

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<Nesi> who cares :)

green is green

<NihabaAshi> I think had I kepted the position OPEN in the after 4:30pm est trading session (didn't close it) before 5pm est...it would have shown NEGATIVE by my broker. 16:45

ER2 still moving upwards...without me in a Swing Trade :( 16:46

I'll be logging into #FuturesTrades a lot earlier for the remainder of the month and November (prior to 0830am est instead of around 0920am est) because I'll be looking to establish a swing position. 16:48

So all bright and early tomorrow morning. 16:49

* NihabaAshi is now known as NihabaAshi_away

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY) 18:11

* DisconnectedSession Close: Tue Oct 16 21:06:35 2007 21:06

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