Trader X

The market has been bouncing around the 200ma all day long and seems to have finally taken a leap upward. Of course I'm stopped out again because I left the trade on while I ate lunch and wasn't watching the market. Had I been here I would have taken my 3 point gain and been happy. Instead I have a loss and only myself to blame. I will no longer keep trades on while I'm not here. Lesson 52349087 that I have learned. Hopefully you will learn as well if you are reading this.

Trader X

Broke above the 200 and the receded down. I sold at 114650 and it has broken below once again. It couldn't stay up so I think the afternoon will be down.

We broke the 200 with enough vengence to make it matter. I'm out again. Still dropping with the stochs not recovering at all. Down, down, down.... It will short if it rallies to the 200ma again or on any high tick counts (above 800 maybe). Otherwise sit and wait.

Trader X

Oh yeah, I almost forgot. There is a resistance point at 1146-1147 area. It couldn't break that, yet..... but it keeps trying!

Trader X

So the push above the 20 as very short lived as the market reversed like a lead weight. Then we proceed to bounce off of the 200ma twice! Couldn't break it. I wend long another contract as the Stochs just criss-crossed back and fourth. I'm not sure who has more power at this point. It might be a banger day... back and fourth, back and fourth etc....

Went short after it broke the first bar low. Got 2 points on that then I switched going into the 9:00 hour. The market is very strong this morning. The 8:30 drop was weak and didn't get close to the 200ma. The 9:00 rally took off right at 9:00, not the usual 9:05 or so and it reversed very quickly above the 20ma. Unless things change, and they might (market is like a women, they can change things whenever it pleases them to do so) I expect strenght today.

Also remember it is a Friday. Also remember it is the last day of the month. Also remember that it is a Friday and the last day of the month. Those make for exciting days!

Trader X

Just broke it right at 9:30. I'll bet this puppy runs until 10:15. I will be careful on the shorts since this is how I got burned yesterday...badly! It is falling back now, we will see if it can hold.

Trader X

Amazing that once again the market turns on a dime right at 9:00. 9 is a pivot point. the stochs went low and crossed exactly at 9:00. Other points are 10:15,12:30, 1:30, 2:00. There are others but from what Oliver Velez say's these are the biggies. We broke the 20 and 50ma but are bouncing off the 89ma. There is enough strength that this market keeps bouncing back. not sure if it will be like yesterday or not. If it breaks the 200ma it will be in the face of a lot of bad news today... another sign of strength.

Trader X

I used the 5 minute chart on the open the then went the direction of the next bar. The first bar was 115325 ti 115525. It took two bars to break below so I went short for a quick 2 points. I will start trading these more often.

Yesterday suck as you can figure. Today I am again looking for weakness in the SP. Only taking shorts until it pops above the 200ma.

market reallied above the 200 ma. I went short again @115325 looking for retracement.

sold more at 114900. Bonds have come off a little but I have no idea where they are going.
Stocks look like they will trade in a range but the downside risk is still higher.

This market is sick like a dog! The rule for the day is to short on any rally to speak of... especially high tick counts and stoch crossovers to the down side. I've sold a few at 114700.

Bonds rallied big time right back up to the resistance of 114-20 but hasn't been able to break above that with any conviction. I'm too concerned to short even though this is a huge resistance point. I will watch closely.

Trader X

The eminis finally started again and around 1:35 went long at 115775. The stochs went down and crossed. We are below the MA's but from what I can tell we've been up and down all day thru the MA's. I will take this off by 2:00 if I have to so I will not trade the last hour. So far it is about the same....

Oh well... I was stopped again! I'm done for the day. I haven't learned a thing....

Trader X

The bond were in an uptrend... above most of the MA's and the stoch went low and crossed. I went long, with the trend the the bonds proceeded to fall about 3/4 a point! Oh well, I followed my rules. It happens.

The eminis were just setting up a trade for me, stochs went high and were getting ready to cross over and then the contract shut down. Dead, gone. CME stopped trading this morning and it might be a while before it's up again.

This little pause was very valuable for me. I went back and looked at my really bad trades from last week. Wed and Thurs. I looked at my entrys and realized that I haven't been following my rules at all. On Wed for example, I had one good sell entry at 10:15. Stochs went high and crossed while we were below the 200. A good sell point and profitable. The market then went below all the MA's and then the stochs crossed on the low side signaling a buy... but we were below all the MA's! I spend the rest of the day buying in a down market. Not only that but the Trin was up all day....

I have to realize that there are days that if I don't get any good signals I should just not trade. It's OK, not to trade... in fact it will save me lots of money if I don't on those days. Option 2 is to use some sort of trend following system on those days when we are above or below the MA's

The chart for Thursday (4/21) was similar but in the opposite direction. 10:30 (pivot point) there was a good entry on the long side, stochs went low/crossed while were above the 200 MA. Good trade if I ever saw one. Then the market rallied above all the MA's, the stochs went high/crossed and I was selling into a bull market all day! It was above the MA's (all of them!) and I still went short several times! I have learned my lesson on this. It was these days that made my week a loser! High tick counts plus Trin was going lower.

I've learned something from this. I will honor the simple rules of MA's and Stochs.

Learn it, know it, love it, live it...

Trader X

PS. Rockstar... we can both learn from this. We will stay on the right side of the market this way.

Down $237. I caught part of the last upswing and it saved me from a lot worse.

Trader X

I think I'm going to add a new rule to my list! No more trades late in the day. I lose a whole days profits late in the day way to often. No more initiating new trades late in the day!

Trader X

Went long again just as the bears were pushing back! Lost 1 point. 116200 to 116100

I ended up adding 2 more time to my sp long position and finally closed it out a nice profit at 116375. The highs are getting lower but the low are not getting lower. There is going to be a lot of built up energy in this channel. It blow up or down later this afternoon. If the bulls can't hold it, it might be like it was on Friday.... Volatile!

Trader X

Ok, I got stopped on the bonds at114-07, and stopped on the sp's at 116150. I reentered sp at 116225.

The sp has remained strong and I have bot 2 contracts @ 116300. Waiting for a run up. Stop at 116000.

bond ran up and the stochs have crossed. Short at 114-3. Look to cover at 114 even.

I'm going to try to keep this thing updated as the day goes on.

Stocks rallied big time this morning. I shorted at 116400 and covered at 116325. It wasn't pulling back enough 15 minutes had gone by. Pulled the trade off. As I type the sp is above all MA's (20,50,89,200) so I should only take long entries for the rest of the day. There hasn't been one yet. I waited 15 minutes as an old trick the Great One told us about. If you put on a trade and your not sure about it, if the market is doing what you want in 10-15 minutes just take it off. It wasn't going down so I just took it off. Of course now it is drifting a little lower...

Bond bounced off of the 200 period MA at 114 and I should have taken the trade! Oh well. I even told Rocky I was going to do it! I didn't.