We had 3-digit gain for Dow and above 40 points for Nasdaq yesterday, will there be some profit takings kick in today? No idea. We have oil inventory report at 1030 ET, this should provide some momentum to the market.
Looking at volume and price action of E-mini S&P at the first 30 minutes, I am looking forward a volatile and hopefully, trending day. E-mini S&P had a small gap down and the gap was filled within the first half hour. Mini-sized Dow and E-mini Nasdaq both opened low and go high. It is pretty positive.
At this point of time, I am looking at Long opportunities.
Blog and Rants
No trade: 13-September-2006 (AGAIN!?!?!)
Dear diary,
Ah..it was a trending day! Great.
Good thing: Not a single dummy setup in 30-min chart across E-mini S&P, E-mini Nasdaq, mini-size Dow, and even E-mini Ruselle 2000! before 12pm NY time. So, I was being disciplined, no setup, no trade. Bad thing: I didn’t make any money.
Worst thing: I didn’t make any money during trending day.
Just as part of my observation, I noticed chances appeared in 15-min charts for the past 2 days. I was not trying to monkey around timeframes, it was the strong day with strong opening volume analysis led me to think about looking at 15-min chart for faster and safer entry.
For consideration, if opening volume analysis shows a volatile or strong day ahead, I am keen to look at shorter time frame (15-min chart). Well, it is just a consideration.
Bottom line, I need to have a couple of different trading strategies in addition to dummy trading. I can’t make a living with just one strategy.
Anyway, let’s fight another day.
Trading: 12-September-2006: Market Opening
From first 6 5-minute bars of E-mini S&P, average volume exceeds 10k contracts. I am looking ahead a volatile, and hopefully, trending day. Three index futures (E-mini Nasdaq, mini-sized Dow, E-mini S&P) are moving up with E-mini S&P leads with a gap up.
As at this point of time, I am looking for Long opportunities.
Daily Pivot 12-September-2006
Here are the pivot levels I am looking at for 12-September-2006
[photopress:Pivot_1.jpg,full,centered]
Junk mail: Stock Alert
I have been receiving emails like this, which is interesting. It always get filtered into my junk mail folder. I am wondering, if people still belive it is possible to have weath dropped from the sky? Stock alert? God bless.
STOCK ALERT!
TRADE DATE: MONDAY,SEPTEMBER 11, 2006
ThermaFreeze Products
Symbol: TFZP
Price: $.45THIS ONE JUST STARTED TRADING!
IS THIS YOUR CHANCE TO GET IN ON THE GROUND FLOOR
AND RIDE THE STAIRWAY TO HEAVEN?!!RECENT NEWS: PLEASE GO READ THE STORY RIGHT NOW AND SEE WHAT THEY DO!!
ThermaFreeze Products Corporation Commences Trading -Announces Introduction
of Breakthrough Cold-Chain Management Product Line.The Company’s flagship products, ThermaFreeze(TM) refrigerant and ThermaBarrier(TM)
thermal packaging material, are technologically advanced, highly efficient and patent protected.CAN TFZP CAPTURE A BIG PIECE OF THE PERISHABLE SHIPPING REFRIGERANT MARKET?
DO YOUR DUE DILIGENCE!! GO TFZP!! THE ALERT IS ON!
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No trade: 11-September-2006
It was another boring day. No dummy setup for me before 12 NY time. E-mini S&P started with strong volume. It was expected to be a volatile and maybe, trending day. E-mini Nasdaq, E-mini S&P as well as mini-sized Dow took a dip during the opening and reversed up in the afternoon.
Though no dummy trade was done, I recalled my CBL (Count back line) trading method. I used CBL entry to trade reversal pattern in SIMSCI futures (MSCI Singapore Free index). Some examples, here and here. I am now again interested to evaluate this method to trade E-minis and Dow.
I was so excited to start trading on my Tradestation. But I am not excited to lose money. No trade for the first day of the week and first day of my tradestation journal.
