Friday, March 1, 2013

Fri Mar. 1

clean trend down o/n session.

/es 1505 -- yesterday was a classic reversal. 

/6e  1.30  -- break.

seeing all signs of a selloff but now starting session deep in the hole -- may be choppy zipper/grind back --

gold, copper, oil weak.  
banks weak
100% correlation today....

use hourly charts -- lots of room to fall -- the upper bands were established but hard to figure out where indices may bottom.

/tf - these little pops are noise. 

Don't trade noise.  and most of it is noise.

Need to trade larger patterns because large players dominate and the turns can only come after sizeable accumulation or distribution.

JJC -- been a good divergent tell.

ad -1400
/tf  899

/tf - most perfect technical bounce into the 5 min. TL -- and whoosh -- easiest 30 ticks ever.  

we're in chopmode here

/tf -- 100 tick range  897 to 907... thru TL.  taking out stops.

AD, UD, /zb, VIX -- all bearish. 
but /tf  -.35% -   can't short in the hole.

/es  GREEN

short  /ES   stop 1550.50

last time
short /tf -- thru  O/N high -- and 910.  

5 min reversal bar - /tf

small triple touch - flag  /tf   1:42.

AAPL  --  new lows for the year....

AD  flat....   but /tf up strong... hmmm...

ad -100
UD negative....

makes no sense to be up.

zb green
vix green.

how are markets green?

2:25 -- market topped at 2:30 yesterday.    Could it repeat?  Is it that obvious?

2:30 - no selloff...  
/tf -- TL broken...    2:40

Adn /tf - breaks to upside....   PUSH.  knew it.

can't use tight stops -- noise will get you every time.

/tf  912

ad flat.

opex days...  

IGT looks good
THRX - call buyers from the bottom -- closing strong.
ESRX continues

indices all up trend -- daily charts -- no weaknesses.

Big Dick $tick  3:40  sending it...

/tf - yesterday highs TO THE TICK

Well -- that was something.....

180 tick range -- bottom to top.   Every day is an opportunity.   You just got to have a system to get some.

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