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
I am always open to questions, comments, or suggestions on how to improve this blog.

Monday, March 2, 2009

no confidence

The markets cast their "no confidence" ballots yet again today, where the selling is not becoming relentless. Not a single relief rally all day long. We did have a little pullback to the 20EMA (15-min chart of SPY) that also coincided with vwap.
Volume declined on the trend down, while increased in the push up to vwap; curious that we didn't get a larger retracement beyond the 15-min 20-EMA Between the AIG news this morning and the pathetic TICK readings, we had a pretty high probability assumption as to where price was heading early on.So, with that our money plays were in SRS, SKF, SMN, right at the 10a.m. opening range break; resistance becomes support

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