Reluctant to go Long Mid-Day 09/02/08

Mid-day one might think that momentum is changing to the upside.

However, I am always reluctant to go long when the market is testing the 0930 ET open from the bottom, and a 50% correction of a down swing wave. I typically wait for the market to trade through this resistance, and then come back from the top to test the support before considering a long position.

Charles

Market Structure Confirms Momentum - 09/02/08

A nice example where momentum reverses first, and then is confirmed by market structure.

Charles

PreMarket Outlook - 09/02/08

European Markets climbing as energy falls and dollar strengthens!

Link to Suri Duddella's interview mentioned in a previous post.

Charles

Friday Review - 08/29/08

Pictures are worth a thousand words.

Charles

Market Data End-of-Day - 08/28/08

Charles

The Fade - 08/28/08

Fading a new high or low is not my most favorite trade; however, it works best when you suspect a day to have a range that is more narrow than the previous day or days. When I do take this trade, I like to have a $TICK divergence, and I usually do not get greedy and settle for a point or two profit.

May not trade tomorrow. I have a lot of painting to do.

Charles

Market Data (End of Day) - 08/27/08

Charles