Thursday, October 25, 2012


I put in a paper trade long /cl  - because there was a clear TL sloping up.

Set a order to OCO at 86.58 -- and it was the top by 4 ticks --  now 86.39 -- for 78 tick overnight move.  The stop was just 9 ticks away.

Also got stopped on /tf overnight for -8 ticks.

Funny how when things are going so badly, the next trade ends up being the best one in weeks.

I am not focusing on /tf closely enough.

/tf  topped out at 817.8 -- just short of the 818 resistance area.    No surprise.

noticing how there's always some kind of symmetrical pattern - either clear 3 touch or 2 touch before each and every powerful move in either direction -- /zb, /cl, /tf -- on almost every market.

/cl broke wedge and went 40 ticks to new o/n high.

5 min chart -- shows 99 MA firmly supporting each bounce.

strong market signals.   with /zb sharply down o/n.

/cl up 1%,  /gc up -- looks like another commodity day.

entire  IBD leader list is green premarket...

/zb  - double bottom  so may not be going down anymore today.    

DDD is hot IBD stock of the day.   beat, raised guidance. 

AKAM  +9% 

8:30 data -- /tf  appears to have 30 tick swing in 3 seconds on data  --

/tf  815.80 - sharp drop on data.

daily charts are all in confirmed downtrend.   IWM  moving to 200 day MA.  Bear rallies can be fierce.

/cl - drops to the TL   86.20 -  good entry?   maybe on 5/34 xover?   support - but breached.   Market Signals weakening.

/6e in dt,   /cl  now in dt?    99 ma on top.   sell rips....

very strong Market Signals.  market up .7%  premarket.    TLT, VXX red.

/tf  at 818.4  - R1.     Should have expected that.    No signs of weakness.

/cl - had a perfect entry - but again, the tight stops are killers -- have to give it the room.  Lose more on these stops than bad trades.

/tf  818.6 -- now p/b.  99 ma showing the way.

/tf  821  at the bell -- then gap filling action  now 814.50 --  had to be willing to fade strength.  The very last thing most traders would want to do.  At double top resistance.

/tf  trying - but maybe bearish wedge? 

because today was a gap up in  a bear market -- it was correct to preemptively short resistance.

yes /tf - bearish wedge -- down to 813 from 821 -- gap fill almost complete IWM.

possible bounce /tf  813.8 broke DT.

now 813.   Still dropping.

Gap up days have different moves.   /tf  is still up .15%  despite 80 tick drop!

81.25 IWM -- gap fill?  5 cents left

/cl  -- SYMMETRICAL  TRIPLE TOP - AGAIN - BEFORE plunge and break of TL.

euro dying -- can't get long until there's a PATTERN.

PATTERNS form before moves.   Almost always.

11:15 am -- dead time now.   All the big moves are over.   30 ticks up, 110 ticks down.  /tf.

/cl  3 bump TL - break-- now good for 100 ticks.   

TLT  / /zb  gapped down to the open from 5 days ago - then bounced a point.

It's all about entering at the major sup/res. areas -- just waiting for a green light after the touch.

Best traders I know tend to make fast decisions.  They are really good at holding winners.  They tend to do the very opposite of what the market is doing during entries!  Hmm.  Maybe that's why they win.  They are way ahead of the crowd.  They are fading the crowd most of the time. 

buy signal  /cl  5/34 xover.  /zb  --   putting in a top...

market still really weak.  What's the crowd doing?  trying to buy a dip?

/tf new lows   99 MA - WORKS on a trend day.

chop and chop again AH.

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