Wednesday, April 11, 2007

PRICE is Still "Chopping" Around

10:19pm We could possibly see some good PRICE movements today.
10:31pm Looking for a SHORT here.
10:40pm SHORT 1453.50 / STOP 1454.25
10:44pm This SHORT has to take out the low of 1452.25
10:45pm That's more like it...
10:46pm Out at 1450.00 / +3.50pts
10:47pm Am expecting a slight pullback, that's why I took profit first...
10:48pm I like this kinda trades where the PRICE movement is swift...and in the direction of my trade.
10:53pm Pull back was pretty weak...Will stay sidelined and wait for a better trade set up.
11:07pm Would be careful with SHORTs here...TREND Chart is in PRIME, and is turning up. A possible LONG here, if we get a failure in PRICE, in challenging the day's low at 1447.25
11:15pm LONG 1449.25 /STOP 1448.25
11:18pm Moving STOP to 1448.75
11:20pm Moving STOP to Break Even (B.E.)
11:21pm Will not be too "greedy" with this trade. Still very much a "counter-trend" trade. TREND is still down, unless we have a PRIME PPF of Support.
11:23pm Out at 1450.25 / +1.00pt.
12:08am Time for me to head to bed...2 Trades. 2 Winners.

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