0744 CST OK that is it for me. My intuitive take is we will head higher at least through 0949 and probably through 1200 CST. I intend to buy dips only up through 1200 CST today. I've already bagged my daily limit so I may call it a day. Price is trading at 116 105 as I write this. Not bad. Not bad at all.
After action report for 12 Aug 2008 1712 CST Here is the chart with the time lines. I don't know what else to add. You know how I trade. What I nailed today: 1) Stair step up. 2) General direction through a time. 3) All time lines. It doesn't get much better than this. At some point I will conclude this journal as I would rather end on a high note and as I mentioned, it is becoming repetitive.
Stand at the bottom of a flight of stairs and look up. Waterfall down = stand at the top of a waterfall and look down. I'm probably going to wrap up this journal soon so fire away.
I do believe it is time to move on. I would say that anyone who has a strong desire to know exactly what it is I have been doing can simply read the journal and piece it together. Per earlier posts, my efforts will be focused on refining my entries and exits. There really is no need for further study at this time as my system is robust enough to take into account any type of market in the ZB/ZN. Good trading!
I'm looking at the thirty year, and it seems a bit overbought. Taking into account the huge move into the dollar, it seems that the bonds were the first destination, but I would think that soon enough, these trades will have to correct somewhat. What's your analysis?
One of the things I did not understand is what one should infer from your charts with those vertical lines @ your forecasted times but without previously telling us whether those 'important times' are for buy/sell/ , cover a position or stay flat...
I'm still looking for a print of 109 to 110 in the ZB, BUT price rules over all, so don't fight the trend.