Friday, October 2, 2009

Thursday Log - Trend with Interruptions


I was not able to get a feel for the market once the bell rang and was on the wrong side looking for 1/2 gap try from 45's. Stop was below overnight low by 2 points which was knocked out quick. 1000 eco reports loomed and needed to be out by then regardless of trade position. Result: -6.50

That was the end of my day as household interruptions and pressing errands were attended to.

One observation regarding this trending day, there were pullback areas during the day which provided opportunity to go counter trend for a couple points once the price action "rested" as well as areas to re-enter short. The trend had nice interruptions in it in order to gain some trades. Internals supported the down move with steep angles.

Should be able to be in position to trade most of the day Friday although expecting range bound day which is usually the case the day after a trending session. Employment report comes out in pre-market which could influence the day.

Trade Well !

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