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Wednesday 12-05-2007

... post em if ya got em
agree PT...I don't want to see another push up otherwise I'm covering..monitoring the 88 area closely as this stair step may continue up..seems like the 85.75 players are trying to hold this up and stops sitting there...
you may remember this critical zone from last week...the 86 - 90 area...I guess the real question is: How long can it continue to keep a lid on the upside potential..? They just tested those 85.75 players and it seems like they are protecting their positions..interesting battle up far!
so far seems like a drift sideways over lunch

market seems content to hold support and wait for new buyers to show up after lunch
I just pulled the plug on this short trade at 87.25...perhaps in afternoon session there will be a better longs for me..I see those triples below...and this a key zone...
well this happening sooner then I though but trading at 88.50 targeting those 86.25 players..I consider this high risk
probably a good idea Bruce on the short... still holding my 2nd NQ short open based on a lower high in the ER2
covered final runners at 82.25 ..not waiting on triples..too close...
for those new to trading : You will notice that we will not be afraid to exit and re-enter a trade if we think we may have a good idea or zone....for me I was watching that key zone ( 86-90), the gap filling from Fridays close and the projection off the fist hour...then dow made new high first and seem to be leading..that is a fade to me..

For targets on downside I was looking at the single prints and of course the "triples"....which haven't been traded to as I type

I admit that I didn't have as much confidence in this trade as I would have liked. Sometimes you just get plain lucky with your runner contracts..... You will notice they came back to "test" the hour high. Some look at this as "advertising" for buyers...

Almost as if to say " hey, you where rewarded once for buying the breakout...would you care to buy it again..."

Seems like 5 minute chart will make a lower high and take out the triples.....that's all for me today.....
nice breakdown in the ER2, that lower high turns out to have been a good quality signal in this case.
Bruce, congrat's on your triples target being reached, and you make some excellent points on being flexible and persistent.

controlling risk is what this game is about....control your risk, keep trying and you will make some money over time
I agree - you guys did a great job of a difficult situation and turned a profit at the same time.