We close the overnight short for +12 point gain, to get back the 10 point loss previous overnight. We are long here at 51’s with a 5point target for a daily time frame trade. Looking for re-test of the jobs spike.
7:00 -- Here comes a push to take out the overnight lows. No tick so far. Bonds spike higher.
Significant here that tick low is only -477 as overnight
lows stops were taken out.
8:19 -- Long 1347.50, short in the hold grinder type move
down. Maybe it just needs 9:00 or that
visual lower tail from 6/29. Instant red entry and it's just going down. Just look at the tick M/A grinding up, yet price refuses to
budge. Too bad that my stop
does not have a chance unless we get at least a tick +600 here.
9:00 is here. And
still no reversal. Stopped. Stop out has
me just pondering the truly amazing nature of the markets. Especially as it’s a new low and
reversal. I just do not think that this
is a trend down day. But have to give it
the respect. A reversal pattern here at
9:00 will definitely has me interested
in on the long side again.
Well, guys, we are back in and wrong again. Not a sniff of upside as this market has a
destination in play. Yet, I can’t help
but conclude that the tick is not very weak, A/d is strongly up trending, and
we have some sector divergences. I give
the odds of this being a trend day down all day at about 10%. Yet, two stops and I’m done.
-- Good analysis flying in the face of price action. You had strong conviction that there was no way the day was going to trend. Yet, you were stuck in trades that took constant heat. That's what can happen when a destination zone is in play. You just can feel a reversal in the cards, but if you jump the gun and get in too early, you have to face the music of a market that is seemingly going down "forever".
9:30, so much for the 9:00 reversal. Dripper trend day sucks me in its
fold once again. How I consistently do
this is beyond me. But I still don’t
think that this will be a trender. Spike
overnight followed by this shit, makes for a recipe for a reversal. Ok, here is a minor bounce. TICK ma is above zero. Check that, not a bounce but a minor green
bar. LOL.
I did just realize something. It’s the “1st day down”. How many times have I gotten caught on
trenders on the 1st day down?
Recently bias makes it appear like every wiggle is a reversal. I don’t know.
That tick sure looks strong, however.
Even up ticks are hitting +600 many times. So I don't enjoy these trade so far but hang in there.
-- Interesting example of how frustration had my emotions starting to go all over the map.
10:23 – So far
not able to breach VWAP. That move down
in the morning was so suspect on this holiday week trade. Maybe there is just not going to be enough
volume to move it one way or another.
But we are going to put our limit just above range highs and see what
happens.
So far the destination was the single print tail from
6-29. Still a big gap below there but
tick is too strong. Anything can happen
but I’ll be shocked if they pull off a continuation short with the tick MA
above zero almost all the time since 7:30.
11:04 – Back to analyzing markets instead of thinking of
yourself. There is just no volume on
this Friday. IWM and Q’s are weak. But that VWAP reversal and now coil and go at
lows is at least worth a probe lower I think.
I don’t think that it’s going to be much.
11:15 – the longer it meanders down here the better – for
the long side. Double bottom opportunity
with TICK that is not doing much at all.
But it’s the “1st day down” and I probably fell into the trap
once again. 2 points away from stop and
I’m thinking that I’ll just let the three point stop go but it’s looking like
it’s an obvious continuation coil lower here, despite no volume or tick in
play.
Price at lows while tick stays at
-166.
Either this is an omen, and a tick -600 pushes it down 4
points, or it’s laggard shorts getting very short in the hole.
-- It was the laggard
shorts getting trapped at the minor low.
11:20 – In need of a miracle now. And when I start to mention miracles, it
pretty clear that I’m done. Sigh. What a gut wrench. IWM new lows here as it’s doing great at
going down. Miracle anyone? Minor low is the open door for one, or else it continues to be an otherwise lackluster grind lower. But I
think that the “1st day down” syndrome got me. My mind just too anchored in recentcy bias
and that’s why it does this stuff.
-- You simply failed
to frame this trade at the reference of the 26th lows. You had it framed earlier but you resort to wallowing in emotion instead of being market focused. You are blathering on about yourself and focusing on your feelings instead of realizing that the market just printed the most perfect minor low of the 26th lows and the morning lows. If it were not for the minor low on the day,
you’d have missed the fact that the 26th low was in play. Amazing how easy it is to get so caught up in the noise and miss the obvious. It's like someone threw a blanket over my head.
1:00: Closed the trade +6 for +2 on the day. The astonishingly perfect minor low of 6/29 is yet another example of poor stop placement on my part, as well as, not waiting for the destination. When combined with my rational and excellent take on structure, a minor low right at this area was a perfect buy zone. Market looks like is going to close on highs in N period after the cash close. With just a little bit more patience, a it could have been an easy +8 day.
1:00: Closed the trade +6 for +2 on the day. The astonishingly perfect minor low of 6/29 is yet another example of poor stop placement on my part, as well as, not waiting for the destination. When combined with my rational and excellent take on structure, a minor low right at this area was a perfect buy zone. Market looks like is going to close on highs in N period after the cash close. With just a little bit more patience, a it could have been an easy +8 day.
