Thursday, May 03, 2007

Well, what do you know...we are heading higher - Leg 1 of Bull Break Invalidated !

08:36pm Globex PRICE movements has proven my gut feelings right (look at this morning's post)...PRICE just breached 1505.00 by 0.50pts.
09:04pm Waiting for pullbacks for LONG trades.
09:36pm Minor PPF of Resistance - Will look for SHORTs first
09:38pm Problem with a SHORT now is that it's counter-trend. A bit tricky, especially with the TREND Chart still pointing up. Will wait first. Anyway, more economic news is due out at 10:00pm, S'pore Time.
09:55pm Too closed to the news release time...will be sidelined first.
10:13pm Consolidation going on - need to see a break of either PRIME Support or PRIME Resistance on the Trading Chart.
10:15pm Ha! At the moment it's a PRIME Match Support - UNCERTAINTY.
10:31pm "Prison Break" is now showing on the telly...Will take a break to watch the show. Will pop in intermittenly to look out for any set ups.
10:50pm 3 X Divergent Top, on the TREND Chart.
11:14pm 3 X Divergent Top, on the Trading Chart.
11:29pm 4 X Divergent Top, on the Trading Chart.
11:30pm SHORT 1508.00 / STOP 1509.00 - This SHORT has to take out 1506.50
11:37pm Moving STOP to B.E.
11:44pm Out at 1506.50 / +1.50pts.
12:33pm My eyes are getting tired & heavy. Tough period of the day to trade. Will call it a night. 1 Trade. 1 Winner.

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