Wednesday, December 19, 2012

Wed Dec. 19.

note: If you start your trading decisions with "I think... "   you are already making a mistake.  Who cares what you think?

If you start with "I see that... "  then you are basing your decision on what you observe.

Your thinking will often go against what you observe.  So stick to what you can see.  You don't need to spend much time thinking or worrying.  Or being happy.  Just keep looking.

I see we are in a roaring uptrend.

/6e  over 1.33

/cl over 89

FDX up on ER.

FB strong.

housing data at 8:30 -- so have to wait and see the reaction.

Europe was strong overnight.

/tf still under 846.   Housing data did little.

AAPL red.

/tf -- break above o/n high   at 9:17    846.6   <----- nbsp="nbsp" of="of" or="or" p="p" range="range" top="top" trend="trend" up="up">
5 min  /tf candle here -- turning into REVERSAL

short /tf -- on 5 min long tail candle -- which formed a double top.   risk: 12 ticks.  If I'm correct, should take no heat.

/zb -- up off lows -- confirming pullback.

/tf  drops at open -- no touch of o/n lows.    balanced...   /zb strong.   looks like p/b

advn-decn  +183   soft. not terrible

Big day yesterday ... chop day today?

advn-decn  near zero --  this is not going to be a trendy day.  PERIOD.

/tf -- big swing back after touching  o/n low - double bottom then 20 tick bounce.  Still bouncing

/tf  - swing back to 846.2 -- wow .   all the way.

/tf  847.50 -- burns shorts in flames at 11:06

/tf 848 - and long tail doji -- reversal?

advn-decn +600 strong

/tf double top  new highs ... blam!

850.3 high -- pullback to 846  (first fib)

/tf inside value area -- so just going to fake breaking.... take out trend following traders on reversals.

/tf big move (again) after test of lows in first 1/2 hour.

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