I’m back from L.A.,California,man was it nice there.Just going to post one of my entries from a trade early on today.I’m keeping a regular journal again on trades and want to add them here so I don’t lose track of them.It also helps to keep me from overtrading,which has been one of my worst demons [...]
I’ll be out for a week or two starting Monday.I’m off to L.A.,California for a while and will be trading there.I’ll try and post when I can,but can’t promise anything.Getting out of the Houston office for a while to mix things up,that and there are some very annoying loud people in there.So another brief hiatus [...]
As you can see the current downtrend continues,until otherwise proven wrong.I didn’t get a chance to post in the last week,just wanted to get a quick look at where the DJI stands at the moment.The bounces are mediocre at best and the selling comes with increased volume.Until the downtrend line is taken out,we will continue [...]
Today was pretty much another consolidation day as far as I’m concerned.They took them up right out of the gate and that was it as resistance was met on each feeble attempt to go up further.I was out yesterday and had no time to post,I’ll try and play catch up this weekend with some new [...]
These setups were all over the place today,just want to post some visuals of what a good chart looks like.It only takes one or two of these setups to make for a good day.
This turtle might be slower,but eventually it gets there.The 12th bar was the safe entry for this one.
Wow,Houston we have lift off! [...]
The chart below shows a good setup for a long off the Fibonacci extensions.The 9th bar closes above the opening range high(high of 1st bar).The 10the bar opens above it and triggers an entry long also closing above the opening range high and forming a bullish hammer.Also notice the volume increase on that 9th bar [...]
It looks like the bulls took over today(or was it short covering?), with a strong bullish engulfing candle in place for the day.The lows of yesterday held and that area is now considered support yet to be tested another time.So short term maybe the bulls can muster up a little follow through if today’s action [...]
Looks like the market still has further to go,although today’s decline was formed on lower volume once again.Still I think the levels here could be broken and further downside is in store.Not the kind of close the bulls would have liked to see.The SPY chart beneath the dow looks even more bearish as the 135 [...]
To anyone that might still be checking up on my blog,as you may have noticed I have began posting again.There has been a large gap between the time I last blogged and now.I intend to continue blogging on a regular basis from this time forward,or until I get really rich and can just sit on [...]
If we have another push downward in the markets,I think these areas will be the next to be taken out.The obvious one is the first real test of 12,000 since it has been a while.If we don’t get a bounce from this current level and the prior lows,it’s quite obvious 12,000 will be tested next.If [...]