The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.
Monday, September 8, 2008
Started the day with the DJIA gapping up 300+ points on the FRE/FNM bail-out news. If you were smart you would have likely gotten short within the first half-hour and covered at the double-bottom later in the afternoon. I watched DIA most of the day. A few scalping opportunities, most of the downside and attempts at a gap-fill were bought up pretty quickly. The DJIA daily chart recovered it's bullish-biased trendline that was broken on Thursday; Pull-back before continuing down? Short-Covering? Bullish recovery? I bought some NWL on Friday, it's looking pretty nice, with a strong day today but approaching some resistance, so I'm curious to see how it will react at $21.I'm sure you're all aware of the UAUA bankruptcy rumors that turned out being false. Insane tape on this one......oh yeah, GOOG...ouch!