Tuesday, May 29, 2007

Post Holiday Bullishness?

09:36pm PRICE has yet to fail in the up move from last Thursday's low.
09:37pm Would be more comfortable just sitting on my hands first...
09:38pm 2 x Divergent Top on the Trading Chart.
09:43pm TREND Chart has just turned down (2 x Divergent Top as well). Will be looking for a Minor PPF of Resistance on the Trading Chart to go SHORT.
09:49pm No go for that SHORT. PRICE made a higher high - TREND Chart has also turned back up...
10:02pm Aggressive SHORT at 1523.50 / STOP 1524.50
10:03pm Moving STOP to 1524.25
10:15pm Out at 1521.75 / +1.75pts. The earlier gyrations nearly took me out.
10:19pm Can you beat that? PRICE is refusing to head lower.
10:24pm I have 4 PRICE matches at 1520.75 on my Trading Chart.
10:25pm Even with the Minor PPF of Resistance, I have this lousy feeling that PRICE is gonna push higher again, judging by the strong buying support shown at 1520.75
10:26pm Saw that ? PRICE bounced off that level again !
10:29pm Am very tempted tp go LONG here. Nah....if we get a PRIME PPF of Resistance here, then the up move is over. Will then gun for a SHORT instead.
10:33pm 2 Oscillation Matches in a row - INDECISION.
10:36pm Interesting...an Oscillation Higher Low here, so far.
10:38pm LONG 1522.00 / STOP 1521.00
10:39pm Moving STOP to 1521.50 - Another PRICE Match at 1522.75, at the moment...I need 1522.75 to clear.
10:41pm That's it !
10:44pm Out at 1522.50 / +0.50pts. That "slam-dunk" at 1523.00 took me by surprise !
10:51pm PRIME PPF of Resistance on the Trading Chart. Let's see if we get a failure here to go SHORT, but with caution, of course. TREND Chart is trying very hard to turn up.
10:54pm No PRICE failures (PFs) so far, to go SHORT.
10:57pm If we get a Higher Low/Oscillation Challenge of Support here (Trading Chart), I am going LONG.
11:13pm LONG 1522.75 / Tight STOP at 1522.25
11:15pm Stopped at 1522.50 / -0.25pts. We are definitely caught in "chop" territory.
11:18pm Will just sit tight in the meantime.
12:07am Well, well...the second PPF of Resistance worked.
12:08am TREND Chart - PRICE is now heading down to challenge last PRIME Support at 1507.75
12:14am Placing a SELL STOP at 1519.25
12:14am Triggered. STOP at 1520.25
12:22am Moving STOP to 1520.00
12:24am Moving STOP to B.E.
12:26am Possible Oscillation change...aaargh! If the drop doesn't spped up soon, my SHORT might just be stopped out.
12:29am If 1518.00 breaks, I'm looking at a profit target around the 1516.00 region.
12:30am Come to daddy!
12:32am Oscillation change again, aaarghh!
12:35am This is heart stopping action !
12:38am Moving STOP to 1519.00 - I believe my 1516.00 target is still intact...I hope.
12:40am Moving STOP to 1518.75 - trying to stop this fake-outs.
12:44am Stopped at 1518.75 / +0.50pts.
12:46am What a time for PRICE to head back to PRIME !!!
01:01am TREND Chart - PRICE is almost in PRIME. If we get a Minor PPF of Support on the TRADING Chart, I will be going LONG.
01:22am Missed that SHORT. Was having the pre-conceived idea of still going LONG.
01:23am Aaaaaargghhh! My original target of 1516.00 is hit...
01:24am Will be looking for a pull back to go SHORT.
01:25am So much for the Oscillation Challenge of Resistance...PRICE went lower almost immediately.
01:49am SHORT 1515.00 / STOP 1516.00
01:51am Moving STOP to 1515.75
01:52am Moving STOP to 1515.50 - not going down as expected.
01:53am Stopped at 1515.50 / -0.50pts.
01:59am TREND Chart - Has just turned up. A possible reprieve from the down move so far.
02:50am Done for the night. 5 Trades. 3 Winners / 2 Losers.

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