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Trading Day Prep Work
Dow mini trading results - 01/28/08
The Dow started mostly flat today and after a brief morning fall into the 10AM news
babble it began an all-day climb back towards the daily MC in the mid 12,500's. It
didn't quite get there but it ended strong and looks like it will have some carry over
strength as displayed in the PTB and AD-volume ratios. I had to miss the morning for
the most part while taking my son to the doctor but made it back for a late series in
the afternoon.
I had three trades that were all part of the same higher time frame move and they all
happened to be shorts in a fairly strong day but the period I played was one of the
few spots of exploitable weakness. It was a 25x rollover back towards its MC after a
divergence and the first signal and two others in the series all gave green lights to
play and were not fighting any divergence of their own so I went with them. The
second trade required a 17-pt stop due to the spot I got filled so that is what I
targeted as well. The other two had decent fills and were pretty normal. The same
stuff we cover in the trading room so not much further to report on them as they were
covered in detail in there.
Not a bad way to start the week considering how much of it I missed. I am burning
the candle at both ends trying to get those videos finalized. Wednesday is a Fed day
so I should be able to catch up on them then and get the first three out soon. I will set
up that directory on my site and we will just use the room password for that area to
keep it simple. Thanks again for your encouragement and suggestions on those. Its
taking a while on the first round as I learn the software but I think it will work out well
for new people learning and old dog's needing refreshers on the system.
(Here is the prior Post).
Results: 3 Trades Date: 01/28/2007 Gross Points This Week: 39 YM
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14:54
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S
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12305
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14:55
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12295
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+10.0-pts
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80%
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All Times EST
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* For rules refer to Scalping the E-mini's
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Looking towards tomorrow
The Pivot Trend Bias is UP so I will look for longs on a stalled gap down and I will
be using the 89-sma and A-D for trend direction.
The Advancing-Volume ratio came in at 78%, which usually has some follow
through. It was a multi-day high in the net positive volume and the rally didn't miss
the daily MC by much. Its likely we hit it over the next few days. When that FOMC
babble comes out on Wednesday if not before. We still lack divergence below on
those higher time frames and this pullback is a first signal after a breakdown so it
will be interesting to see how the news effects things at such a sensitive time. I
don't really care much which way it goes as long as the swings are decent intraday.
I am flat on my long-term stuff so down would be somewhat nice from that
perspective. I have a daily crunchy and a H&S project down in the 11,100's
somewhere. If we start moving well off the MC I will be eyeing that.
If you are using Sierra Charts and want the automated alerts template let me know.
I will either send them to you or I can upload them to the Yahoo Group. The few
people I have shared them with are giving great feedback. I set them up for the
benefit of the room but I have to admit I am finding them useful as well.
Have a great week! See you in the trading room. May God Bless you ~
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Good luck! Be sure to contact me through the links on the About Me page if you have
any questions. See my complete prep work for tomorrow.
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