Lance: Is it fair to assume you "position trade" and do not post your entries as well as scalp and post your trades? I am not accusing you of anything, it's just a tad odd that your entry or market prediction was never posted here, yet you posted several other day trades before and after this trade was opened. I post my entry's or market bias and never toot my own horn. I just want to keep things here on an even playing field. cheers, el surdo
You are assuming this is a competition of sorts. Remember what you posted yesterday?- "THIS IS J.P.'s Journal" also, you are NOT the Host of this Journal, only an expectator like everyone else, so act like one.
Prediction for 23 April 2007 I'm just playing with some cycle analysis, but I'd like to make a record of an observation I saw this weekend after some study. 23 April 2007 will be an important date, plus or minus 1 day. The position to take will all depend on price, i.e. are we at a peak or a valley on the daily / weekly chart. There may be some fine tuning on the trade, but I'll go on record as saying that the above day will be important. I'm guessing it will be a day to sell. More to come later.
Thoughts for today 09 April 2007 It will probably be a slow day. The 0735 NN trade was to short at 110 16 with a target of 3 to 4 ticks. Remember I mentioned this type of trade last week. No discretionary trades so far. What do we know so far this AM? The following: 110 17 110 10 More later. By the way, I said 0735 as typically that is the safest time after a report. Today with no 0730 report you could have taken the trade earlier, i.e. actually gotten a fill at 110 16 as that was today's pivot. Waiting until 0735 would not have gotten a fill at 110 16. Moot point as this is an after the fact hypothetical discussion.
Just a quick note to say that the NN trade is closed with a two to three tick profit depending on entry. Per my post last week this trade revolves around a single trade of the day idea. Since it is a slow day, I'm doing time cycle studies at the moment. I'll let you know what I find out.
10 April 2007 Looking to buy a single lot at 110 16. 110 21 to 110 22 keeps coming up in various studies as a very important number.
The NN 0735 trade is a short at 110 18 or 110 19, whichever gets filled. I'm not taking it yet. I may wait to short at 110 22 or so. It is difficult to take a short, when we've broken yesterday's high, and the market had a dramatic down day a couple of days ago.