Thursday, January 17, 2013

Thurs 17 notes

Focus:  One: Patiently focus on process, entering on x-overs and waiting for 3-bumps.
             Two: Select markets and position size based on volatility and strength/power.  What's moving?

up premarket.

/cl  strongest --   up .6%

/tf  880.8
/es 1468  --  strength equal vs. /tf

Ebay, aapl  up.
BAC down on earnings.  -2.3%

triple top  in /tf  on 5min. / 5 day chart -- resistance here ?

/zb  red, gold down...   conditions are perfect for strong day.... but so extended.

short /tf  879.9  on 5/34 xover -- after major 5 min triple top.   Need a 15t stop here.
-5 tick - stop on 5/34 xover  --  and instantly back to highs.

Need to trade with one set of rules -   1 min timeframe only.  So don't turn it into a 'swing trade'.  Saved over 10 ticks stopping out immediately.

Housing data in 4 minutes -- leak?

/tf  jump to 882     /gc drops --     positive data.   5/34 xover caught it way early.

/tf -- 883.50 is alltime high -- should be magnet -- 883 now...  easy.

883.5  and beyond...    blue skies
/cl  95.60 --    don't stop believin'

could easily be up 1% today --   /tf .58% -- so ppl. may start shorting too early....     'overbought' is not a sell signal...  or a plan.

so high vol.  high volatility today --   /gc  down to 1666  sharp sharp move.   Everything else up.

exciting open --  must relax, control emotions - stick to plan  --

/tf - almost  5/34 bearish xover... at 883.5

ewg, ewi  up 1% -- probably few think we can trend up from HERE.   but easily can.  Charts will show you.

+1600  advn-decn     huge.

virtually no move after open  - /tf

advn-decn +1400

short /tf  - on xover.

big moves premarket -- not much after the bell... need to trade early these days.

885.2 /tf -- obvious.

Should not have tried to short  -- Market Signals were obvious.  Negates any hope of contrary xover.

/gc - rainbow - after 5/34 xover.

/gc!!!!  wow   --   200 tick range.   now green.   xover caught a whopper.

if I'm trading well -- I should be able to lose 4 out 5 and make a huge profit when the trend hits on the winner.

+1300 advn-decn -- all sectors green....   we're in the midday chop chop period.

DECK -- sunk to 37.91 -- weak!  

short /tf --  advn-decn  diverging here....        off-plan contra  with $70 stoploss.

anyways...  needless to say Trend Up Day.

889.... +1600 advn-decn.  

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