Friday Log - AM Only

Did not enter a trade until after the 0955 Consumer Sentiment report was announced. Waited for the market to tip it's hand. Went long in 86's once angel formed and price tested the GLO and RTH opening price areas of 87-88's with two point stop. Scaled out in 88's and 89's just under PP. Result: +5.50

Tried a couple more scalps in mid-late morning which cumulatively resulted in a virtual scratch. Closed it up for the day prior to lunch session.

Trade Well !

Thursday Log - EOW & Friday 13th

Started the day shorting about 18 minutes after market open. Entered in 94's with stop above PP. Stopped out. Waited for market to run its course and started running out of momentum around 1100 level. Re-entered short in 99's and scaled out down to PP. Two trades - Result: Scratch

Tried a couple quick scalps in late morning with little success. One long and short trade each as I played (or they played me) around the PP area of 96. Result: -2.0

Internals and price action was saying short so re-entered short in 95's around 1100 as price had gone thru PP and I shorted on first re-trace back to PP area. Scaled out using combo thinking and S1 as support/profit target areas. Result: +10.0

Came back for the final hour of trading session. Tried a long in 84's thinking it was the bottom as it was a good support area with TWM and S2 but was too early. Stopped out in 83's. Re-entered in 82's as new low was made on lessor down volume and slight divergence in Stochastics and $TICK. Anticipated shorts to take profits before market close. Scaled out in 85's and 87's. Two trades - Result: +4.75

Tomorrow is EOW and Friday the 13th. Just another trading day except for the superstitious?

Trade Well !

Honoring Our Vets on this Veterans Day

Thank you to those that have and currently do serve in our military!

Tuesday Log - Range as Anticipated

First trade taken about 10 minutes into the session. Went long from 89's on pullback from penetration of yesterday's close. Scalped out in 91's and 92's. Tried holding out for 93.75 but long tailed doji on the 0950 print got me running. Result: +5.0

Scalped short in late morning only looking for 1-2 points. Sold the 88's and out in the 87's. Was thinking a test of combo low or test of PP but stuck with my plan for 1-2 points. Result: +2.0

Came back for late afternoon stab at another scalp using tight stops and some small profits from earlier in the day. Bought in 90's and closed the trade in 92's. Result: +2.0

The day after trend day played out into a 9.5 range as anticipated. Days like this one needs to be nimble and reverse thinking quickly. Scalps, 1-2 points when price is range bound can add up.

Trade Well !

34th Anniversary of the Sinking of "The Fitz"

November 10th marks the 34th anniversary of the sinking of the Edmund Fitzgerald and the loss of all 29 crew members who were aboard her when a severe storm quickly formed over Lake Superior.

Quite an intriguing story and a familiar song which has helped preserve the memory.

Monday Log - Looks Easy in Hindsight...But Tough Day to Trade

No trades today. The shorts were getting a slow squeeze all day long as the noose tightened around their position without letting go. Pullbacks weren't much more than 2 points if that which makes it very difficult to participate in a low risk entry.

I was waiting for a 3-5 point pullback once the overnight high was penetrated but did not see an entry. The only place I was considering entering was in the overnight high area once price pulled back just after it broke thru.

Tomorrow should be a consolidation day which usually follows a trend day. We'll get 'em tomorrow.

Trade Well !