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.

Wednesday, October 17, 2012

Wed. 10_17

Opened just above the previous week's open and at the previous day's high.
Another breakout entry with quick exits (too quick perhaps).
The overnight highs ($146) acted as a significant pivot, as did the opening swing high which saw price ricochet off of.

A couple of entries on the long and short side.  Shoulda/Coulda/Woulda taken the 2c-2d criteria (15-min) entry just before 1:30.  The short just after noon was somewhat an all-or-nothing trade.  In other words, I should have taken half off at $146 which coincided around vwap at that time, but figured I'd either take a more or less b/e trade if it gets a strong bounce off of vwap or let it run to $145.75 (was thinking $143.70, but wanted to get more of a "guarantee" fill, which turned out to well).

While the Advance/Decline has seen some divergence these past two days, the Up/Down differential has barely seen a negative reading all week.

The daily coming up on that upper channel.   A 50% retrace would be nice to see, but being Options Expiration week, we could see things get manic.

an update on the IWM, QQQ, DIA daily charts posted over the weekend

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