| ESZ9 For 10/12/2009 |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1071.50 | 1075.00 | 1065.00 | 1061.50 | 1055.00 | |
Nothing scheduled because of Columbus day, markets are open.
Pretty good day of trading, one boneheaded trade and some regular old trades. I never really got on the trading in the afternoon, even though the general trend was up. The price action was choppy and I was too hesitant to just jump in and ride the upward trend. I can be a real chicken sometimes.
Fairly easy day to trade as the set-ups were much clearer than yesterday’s chart. Once again I passed on a mediocre short trade as the price action just seemed to far away from the 89 period SMA. Had a couple of nice trade, that required no special skill.
This was a fairly difficult day to trade, even the chart looks like it is nearly straight up. I took a trade right at the opening, which is very unusual for me, and rode it out for a fairly nice gain. Notice my exit was based on the Bollinger Bar close, and the CCI making a near U-turn.
The market stayed well above the 89 period SMA today, so I restricted myself to long trades. There was one beautiful trade that started around R1 and blasted through R2, and that was really it for the day. I took a couple of long trades hoping the market might break out some, but nothing really materialized, and I exited the trade with small gains.
There was a good bit of news driving the market today, and, at times, the traders had a hard to trying to make out just what the news meant. But then Ben got on the blower and said not to worry, things are just fine, end of recession. I’m wondering if all of those people out of work were thinking the same thing. I doubt it.