Tuesday, November 28, 2006

Markets Get Hammered

Review of last night's trades. What a night! Imagine...my second SHORT was near the highs of the regular session! But of course, no one knew if PRICE would ever make it back there again at all, throughout the whole trading session. That's the beauty of the markets. We can only make observations, and look at possibilities. At the end of the day, we can only predict. No one ever has the crystal ball. We are still heading down for this Leg 1 of the Bull Break. Still no signs of PRICE failure at the close.

10:27pm Just stepped into the house. Looks like there's still no end to the down move. Will still be looking for SHORTS, as the TREND chart is still pointing down.
10:33pm Minor PPF on the Trading chart. Will be cautious for SHORTs now, with the Minor PPF, and the TREND chart just turning up.
10:44pm LONG 1380.75 / STOP 1379.75 - This LONG has to take out 1383.25
10:47pm PF here. Will hold on.
10:50pm Moving STOP to 1380.00
10:52pm Out at 1381.75 / +1.00pt - Reason being a PRIME PPF with a PF on the Trading chart. Let's watch & see if it was a "fake-out".
10:54pm Yep. It was...
11:05pm Can't stand these "fake-outs"...would have given me more points. I always try to protect my profits. No point giving them up, especially when there is a PF.
11:12pm Look out below! Here we come again...
11:23pm We are having some pretty wild swings in PRICE tonight.
11:40pm We are now in PRIME territory, on the TREND chart. Are we done moving up? Leg 2 of the Bull Break coming to an end? Watch for PRICE failure - Preferably in PRIME. If not, a Minor will also do.
11:48pm Minor PPF sighting ahead!
11:52pm SHORT 1388.50 / 1389.50
11:54pm Moving STOP to 1389.00
11:57pm Out at 1387.50 - 1.00pt
11:58pm Feeling very sleepy. Had a very long day. Will quit while I'm still ahead. 2 Trades / 2 Winners.

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