Discussion in 'Journals' started by john99, Sep 28, 2006.
VIX bear div., TRIN flat, TICK choppy. Indices in tight range and very volatile this morning.
So far the market looks like crap to trade. 2 thursdays ago, we had a similiar morning pattern.
I do not like this area we are in. Too unpredictable. I hope we break one way or the other before too long.
The volume is pathetic, I'm gonna see if this pattern I'm looking at from sep 21 replays itself today.
The charts on the left are sep 21, charts on the right are from today.
SMH still looking very similiar to sep 21, although the time frames are off. Will we sell off slowly in the next 15min???
This is what happened on YM when we broke through the critical level.
I would say 11770 to 11765 is critical support level on YM for today. If broken, maybe we get a selloff to 11735.
short ym 11793, stop 11803, target 11765, with a trailing stop
short er2 738.9, stop 740.7, target 736.9, using trailing stop, may look for more if we break lower.
lets see if I'm right,,,gulp..
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