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ES 10-10-12

Not mentioned on my video is the 1425 - 1427 area a possible support point if the sellers can break down below the current O/N low
No video below? Try this link: wed_10-10-12.swf

my plan is to find a way to get trade back into 1435..that is my magnet price from down in the 31 - 32 key coming FWIW
95 % of the time the O/N high or low is run out and I see no reason why that won't happen today...I think the O/N high is a poor high with multiple matching i am and will be trying to hold runners and trade for that breakout..

this low of last week at 32.25 is showing it's importance so far today

the key with these tight / small ranges is to take something off and try to hold for a bigger probability. It's been this way for months !
great trade bruce !
Thanks Nick but you should see my options from yesterday...they are only worth about 27 cents now.. I bought them at 38 cents and 48 those are failing so far

I'm still comfortable with them as long as we don't spend too much time under last weeks lows then I will not be as confident for that retest back up into the 1444 area.

Nice thing about these is that they have little time value on them

On ES my only plan is to buy under the volume that was left at EXACTLY 1436 so anything near 1434 gets my attention on the long side as i'd like two points profit in order to take risks down here

so 1436 is now my key magnet
cool on the 36 test..everything I've been working today is to the long side but we need to realize that we are coiled up now and we are stuck inside the O/N range...they will bust it but we can't be sure when and don't want to be stuck on the wrong side of that break....

this is coming down to a battle between yesterdays RTH low and the low of last week..
I seem to be a bit obsessed with that O/N high today... I don't like being so one sided but compare the high of the overnight to the Low of the On session.....

the buying at the On lows shows a tail where that high seems rather lame and blunt

with that said I'm gonna continue to take small tight shots on the longs side until about 11:45 ...then gonna take a break....this a good time of the day for some movement ...just not sure it will be the way I want it to go
something to keep in mind is that even if we break the hour lows that only really creates a neutral day for us - both sides of the IB if they do that before lunch then I think it will still set up the long side trades to get back to the days center

sill following the plan...europe is closed soon
this 31 - 32 again is our spot now but the magnet is now 1434 and can't find an entry yet
I have an old VPOC from 9/28 @ 1431.25 - we just touched it.
Click image for original size
2012 10 101145
oh options trades are terrible and I did not actively manage that like I should have... you can buy them for 12 cents..the same things I paid 38 and 48 cents for yesterday so I am letting them stay on until it either hits that 1444 or Friday closes...I should have been more agressive with them