Review of last night's trades. Was so bored with the PRICE movement last night that I logged off in disgust! LOL...In any case, the move down was somewhat methodical in nature. Stair-stepping down, if I could call it. And although we had a decent 7 point range on the ES, there were a series of PPFs, and B-PPFs, which made it altogether difficult to trade.
More importantly, we have witnessed Leg 1 of a Bull Break last night. As I mentioned in my posts yesterday, we needed to look out for the key level of 1380.25 (it being the last PRIME Support on the TREND chart). By effectively breaching this level, Leg 1 of the Bull Break has occured. And with the TREND chart reaching PRIME soon, and PRICE being so far from the last PRIME Resistance of 1393.75, Leg 2 of the Bull Break looks rather imminent. We made a lower low at 1379.50(against last PRIME low of 1380.25), and for next week, we shall see if we make a lower high (against last PRIME high of 1393.75).
I will try to post some new fun links over the weekend and also some new things as well. Be safe & have a great weekend !
For a start, I've just added a Free Innerworth Newsletter Link just next to the Millennium-Traders Banner & a Free Investment U Newsletter Link, just above My Profile. Sign up for both. They're good, and free!
Saturday, November 11, 2006
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2 comments:
Hi gerimegaly,
are you sure your mentor is sane. I have read his comments on channelnewsasia and Elitetrader. His comments are half-insulting and he always mention he is holding his last seminar in 2005 or in 2006 in his posts. I would expect a knowledgeble trader to be more you know normal. He is still holding seminars according to his website. can you explain the inconsistency.
And he post a dancing hippo..OMG
http://info.channelnewsasia.com/bb/viewtopic.php?t=18612&postdays=0&postorder=asc&start=220
http://www.mrcomputerservices.com/DancingHippo.htm
Your trading seems OK. But your mentor either he is eccentric or brillant or lack EQ
Hi gerimegaly,
not to smear or anything. Continue further reading of post and threads at Elitetrader.com about your mentor Wm "Bill" Schamp. People are mentioning he is a 'non-trader' and that he is claiming to retire every year since 2002, sounds familiar.
You can call me michael. i am from singapore and started trading end 2005 options trading. Optionetics graduate now looking at futures.
ES YM..
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