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Thursday 01-10-08


starting longs at the 1403.50 today.in overnight..target will be up near the 1410...lots of numbers here in this 1402 - 1406 range...so perhaps this will cooperate
seems like it has to go down in order to go up......imagine a car trying to get up a steep hill from being parked at the base......now back that car up and give it some gas ( momentum)....easier to get up that hill with a running start....ok, too early for this kinda talk...lol...billion $ question is how far do we need to step away ( retrace ) from yesterdays highs to go higher...that went up 30 points in a relatively short period of time so some backing and filling is to be expected....

current plan is to add at 1400.50 if it gets down there after the real time session open...

Hopefully this won't back away too far and fall off the opposite side of a cliff...
Pitbull entries so far...market drops to minus 2.5 so you buy the open and lose 1.5....re - entry at open after stop out hits target at 1406.50....
covered partials at 07.50....trailing with next target at 1410..
second target hit.at 1410..will try to hang on for 1415 but don't think this wants to go too far today..got the 13.25's but real low on ammo....
Remember original pitbull strategy window.....if market goes 2.5 points below the open and then 2.5 above the open the window is "run" and you are done....so for those who just sent an email asking if they should have sold the 1405 after the 1407.50 printed the answer is "no"....
this seems like it may turn into the consolidation day...Pt-s NQ market really isn't on board yet..perhaps that will change....
guess im in trouble cuz i sold @ 1411.75 :)
my question Gio is which way are they gonna take out the hour range...obviously the low would be good for you
got the 1415....they broke hour range to upside........not enough ammo to do much with from here.......
nq still struggling...can't break it's hour highs.this is a market I never watch but thought It may be interesting.....fading this break ( hour high)seems like the way to go and would,'t be surprised to see emini test the 1409 area
Good point DT...one of the many reasons I like this place. It's great to know that there are people enjoying and benefiting from the site. I like that it's low key. This place is like the "diamond in the rough"
quote:
Originally posted by day trading



What I've noticed is that participation is something that grows slowly over time and fluctuates in an ebb and flow manner. However, slow and steady usually pays off in the end. I think that we're doing a great job in keeping quality content on this forum and I've received many emails from people stating how much they've learned from here.