Another late start today. I have also changed my tactics to some degree. Since the market seems to be trending in one direction or another, I am going to use my old trending system. Based on this system it is basically saying we will have a down day today. Looking for short entry. 1481 looks like a good shorting point.
a coiled up 10/100dow point point range like this could spring us to 90/ 450 dow relatively quickly....getting ready for the march. don`t think they`ll give anyone a chance at 68/70 again. dow clearance of 350 will be the cue ,imo
ImO, depending on what breakouts you refer to, buying low and selling high is a more profitable practise, but and there is always a but that could be argued about <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1594683>
I can't argue with you there, that's why nothing beats watching the tape day in and day out. I am always trying to catch a reversal, the key is to honor your stops when you are wrong. Easier said than done when you are underwater.
....missed the 50% retrace entry.... nice 4 point bounce on that one..... ....keeping a close stop....