Thursday, December 6, 2012


quiet premarket.

/tf  stable at 820

bonds up slightly,  euro down slightly       AAPL down 4 more to 533.

WLT up 7.5%  premarket -- this got over the 10 day daily a few days ago - -the typical setup

stay with 99 MA ribbon  until major support or clear 3 bump/double bottom pattern emerges.

- Trend changes occur only at

/cl -- 3 touch on 5 min chart - perfect symmetry then  140 TICK drop -- following the 99 ma.

/cl near possible support but no db or tb pattern to work with.  and.... new lows  86.38...

/tf sloppy  near 819 --  underperforming /es

AAPL  -- huge 20 pt. swing to green.
/cl slight bounce to 99 ma -- but folds from there -- short  under 99 ma ribbon.... no major support pattern in place.

/cl  new low,   euro new low but /tf remains green  with aapl  now +30 off lows...  /tf pushing higher to resistance.

/tf -- bottoms near 816 -- rips all the way back to 822.50  despite  /6e weak, zb strong -- basically breaking all the rules...   even  /cl   down 2%  but   /tf is a strong buy 

The whole game is waiting for the right setup.  I'm guessing most failed traders are those that have a system that requires too much patience for them pychologically - so they take bad trades.  They hit their winners, but the impatient losers wipe it all away.  Trading is much slower than it appears.  Most people need more interaction. 

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