Tuesday, June 26, 2007

Another Lower PRIME High? A Repeat of Yesterday's Actions, Perhaps?

10:04pm Are we gonna see a repeat of yesterday's opening action? PRICE is still way below last PRIME Resistance at 1528.00 on the TREND Chart.
10:15pm Looking for a SHORT, on the next PRIME or Minor PPF of Resistance (1518.75) on the TRADING Chart.
10:19pm SHORT 1513.00 / STOP 1514.00
10:21pm Moving STOP to 1513.50. Just in case PRICE doesn't behave itself.
10:22pm Out at 1511.75 / +1.25pts - Too many PRICE matches at 1511.50, so decided to get out first.
10:34pm Interesting...PRICE is now in PRIME Support, on the TREND Chart and if we get a PRIME PPF or a Minor PPF of Support on the TRADING Chart, it would be the signal to go LONG. A PRIME PPF would be better because it would mean the end of the down move.
10:38pm Looking for LONGs...
10:39pm If PRICE heads back up and clears today's high of 1518.75, it would give us Leg 1 of a Back Door Bear Break.
10:45pm Now let's see if PRICE is able to hold above the current low of 1509.50. If it does, then a LONG here would be ideal.
10:50pm LONG 1511.50 / STOP 1510.25 - My last trade for the night. Getting sleepy.
10:52pm That was fast. LOL. Stopped at 1510.25 / -1.25pts.
10:53pm I'm done. Gotta hit the sack. 2 Trades. 1 Winner / 1 Loser.

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