Wednesday, April 18, 2007

ES Opens Slightly Negative

09:41pm As mentioned in this morning's post, I would expect PRICE to head lower (and to SHORT pullbacks), up & until a PPF of Support stems the down move.
09:44pm Placing a STOP Sell at 1475.00
09:47pm Did you see the "fake-out" that hit 1476.50 ?
09:48pm STOP hit - SHORT 1475.00 / STOP 1476.25
09:49pm If PRICE does not try to even "threaten" 1473.00, I will get out...
09:51pm Out at B.E.
09:54pm That was a Minor PPF - interim bottom. Need to have a PRIME PPF of 1473.00 to confirm the bottom - if it is really the bottom...
09:56pm SHORT 1475.75 / STOP 1476.75
09:57pm Stopped at 1476.75 / -1.00pt
09:58pm Looks like this pull back has legs...
10:06pm Trying another SHORT at 1475.75 / STOP 1476.50
10:08pm This is more like it...Moving STOP to 1476.25
10:09pm Again, this SHORT Trade must take out 1473.00 - If not, I will get out.
10:10pm Getting out soon...PRICE is in PRIME.
10:11pm PRICE movment is escalating downwards as I type...will hold on to the trade first.
10:13pm Will take the risk & hold on to the trade. I believe it may be more profitable...Let's see. Be back in a while - Need to take my dinner.
10:16pm My STOP may be too close to the action...
10:16pm Really spoke too soon...Stopped at 1476.25 / -0.50pts
10:18pm The PRIME PPF was really all the way down to 1473.50 - Looks like the bottom of the downmove is in.
10:20pm TREND Chart PRIME PPF of Support is in...PRICE is heading back up to challenge last PRIME Resistance at 1482.75. Key level to watch out for is 1473.50 - PRICE must not Breach this level.
11:56pm Surrendering myself to the bed. 3 Trades. 2 Losers / 1 B.E.

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