(originally Posted Tuesday March 21, 2006 @ 06:47) We just saw how wicked even the mini Dow Jones can be with a swing over ten minutes of 28 points. After yesterday’s support and resistance chop chop salad bar I might just run some errands this morning and come back this afternoon. I don’t like to…
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Topping Formation Missed
(Originally Posted Friday March 17, 2006 @ 07:53) The vicious sell off we just saw strengthens the need for tight stops on a run up like this morning’s first hour. The 10:30 bar in the Dow Jones reached a quick high of 11356 and sold off like a falling stone for a low of 11336…
Risk Free Profits
(Originally Posted Thursday March 16, 2006 @ 07:51) The double top on the Dow Jones 10 minute bar chart is being perfectly formed by the double top on the 5 minute bar chart right now. The first real sell point of the morning was just set up. It’s been a great run up from the…
The Biggest Problem
(Originally Posted Wednesday March 15, 2006 @ 19:28) I got fed up with the chop chop this morning in the YM and buggered off to my boat. I wanted the feeling I was accomplishing something. In retrospect I’m glad I passed on sleeper Monday after Friday’s gift. Yesterday I lost my focus and turned off…
Be On Guard
(Originally Posted Monday March 13, 2006 @ 11:27) Friday March 10 was a treat. So much so that I haven’t even opened the charts since. I wanted a full three days off. So I’m disciplining myself and not even going near Monday’s action. I often feel that when a ‘windfall’ trend gifts a trader with…
It Ain’t Easy
(Originally Posted Thursday March 9, 2006 @ 21:19) Switched over to June first thing this morning. That felt a little weird seeing as it was snowing right at sea level today on March 9th. That meant I started the day by missing the opening trade I like to look for. Too bad as it was…
Indicators Lag Price
(Originally Posted Wednesday March 8, 2006 @ 18:48) Having loads of fun day trading again after such a long absence. Taking my own advise and spending the months of Nov. and Dec. studying, testing and refreshing my skills gives me the relaxed posture that’s needed to make this work. I’d grown a little rusty just…
Pre-Nup?
(Originally Posted Thursday October 13 @ 10:48) My God it’s been too long. I was studying my commodity charts a couple of nights ago and realized I hadn’t visited the ol’ blog in many months. Spending almost the entire summer away from home ate up all my spare time. Plus starting an entirely new business…
Perelman is no Dummy
(Originally posted Thursday April 7, 2005 @ 17:12) Last night I was writing on my web site about Morgan Stanley and the difficulty the small trader has staying alive.The big houses move the markets around, killing your tiny positions in a few minutes of stop running. I was referring to the S&P 500 and specifically…
The Running of the Stops
(Originally Posted April 03, 2005 @ 15:33) with a close of 322 ½ after another stop running 11 ½ point range on the 31st. They cleaned out all the new longs before tanking it again. If you’ve got the stomach for it, check out the beans on the day the planting intentions were released.