OPENING RANGE FOR SPY
136.83 - 136.60
Thursday, February 21, 2008
Day Traders Framework
I thought I would try and spell as much out for the day as I can, just in case I get into a position to where I cannot post.
The Day Trading Probability Models calls for a sell-off day and a close in the bottom 1/3 of todays range. Therefore, we will be looking to short early rallies and keep a close eye out in the 1369 - 1375 area for potential weakness.
If we do sell off from these levels then be prepared for a potential move lower of 25-30 points, but support should be found.
The Resistance Numbers for today are:
1367.28, 1372, 1375.21, 1379.01 and 1388.85
The Support Numbers for today are:
1348.05, 1344.85, 1340.87, 1336.35 and 1331.17
Large Green - Strongest and highest odds based numbers
Red - One step below green as far as the odds factor
The Day Trading Probability Models calls for a sell-off day and a close in the bottom 1/3 of todays range. Therefore, we will be looking to short early rallies and keep a close eye out in the 1369 - 1375 area for potential weakness.
If we do sell off from these levels then be prepared for a potential move lower of 25-30 points, but support should be found.
The Resistance Numbers for today are:
1367.28, 1372, 1375.21, 1379.01 and 1388.85
The Support Numbers for today are:
1348.05, 1344.85, 1340.87, 1336.35 and 1331.17
Large Green - Strongest and highest odds based numbers
Red - One step below green as far as the odds factor
Wednesday, February 20, 2008
TRADING FOR TUESDAY AND WEDNESDAY
My apologies for not posting Tuesday and Wednesday, but not only have I been working on a new trading levels system, which is looking very promising, I am also trying to find an avenue
to do exactly what I am doing here, but in a less invasive manner.
I have found that since I started this blog that the number of trading errors I have made has increased as well as the slippage on some of the fills.
As much as I love posting my signals, I have to find a way of doing so that will be better suited for everyone.
So once again I ask for your help.
I got quite a few replies from my last request and some of the suggestions are being looked at right now, but I need more!
So, if you have any idea as to an avenue of accomplishing exactly what we are doing here, but in a more seamless manner please drop me a line. I am willing to investigate just about any suggestion even if their is cost involved on my end.
I am going to try and post tomorrow and see how it goes, but the instant I find it is impacting my trading then this is when I will stop posting.
I hope that many of you have been using the techniques I use and find that you do not even need the posts anymore. As you might imagine, with my type of trading, today was an incredible day. I won't throw any numbers out, but it was better than any of the results I have posted on the blog.
to do exactly what I am doing here, but in a less invasive manner.
I have found that since I started this blog that the number of trading errors I have made has increased as well as the slippage on some of the fills.
As much as I love posting my signals, I have to find a way of doing so that will be better suited for everyone.
So once again I ask for your help.
I got quite a few replies from my last request and some of the suggestions are being looked at right now, but I need more!
So, if you have any idea as to an avenue of accomplishing exactly what we are doing here, but in a more seamless manner please drop me a line. I am willing to investigate just about any suggestion even if their is cost involved on my end.
I am going to try and post tomorrow and see how it goes, but the instant I find it is impacting my trading then this is when I will stop posting.
I hope that many of you have been using the techniques I use and find that you do not even need the posts anymore. As you might imagine, with my type of trading, today was an incredible day. I won't throw any numbers out, but it was better than any of the results I have posted on the blog.
Friday, February 15, 2008
STOPPED OUT WITH PROFIT
STOPPED OUT AT 1345.25 WITH 5 POINTS PROFIT
TODAYS RUNNING TOTAL IS - +5.00 POINTS
TODAYS RUNNING TOTAL IS - +5.00 POINTS
PRE-OPENING COMMENT 2/15/2008
Looking for a bit of a lower opening this morning.
The S&P 500 is indicated down 7.70
The Nasdaq is indicated down 9.70
Both of these price levels are well off their pre trading lows.
Watch 134.49 and 133.91 as potential reversal targets today.
I will be posting the rnge trading numbers as they become available.
LETS HAVE A GREAT DAY TRADING AND USE THOSE STOPS!!!
The S&P 500 is indicated down 7.70
The Nasdaq is indicated down 9.70
Both of these price levels are well off their pre trading lows.
Watch 134.49 and 133.91 as potential reversal targets today.
I will be posting the rnge trading numbers as they become available.
LETS HAVE A GREAT DAY TRADING AND USE THOSE STOPS!!!
SUPPORT AND RESISTANCE LEVELS FOR 2/15/2008
SUPPORT AND RESISTANCE NUMBERS FOR THE SPY
*************************************
S1 - 134.89, 134.65, 134.33, 134.07, 133.80, 133.43, 132.96
*********************************************
R1 - 135.45, 135.69, 136.01, 136.28, 136.64, 136.91, 137.38
*********************************************************
YESTERDAYS HIGH - 137
YESTERDAYS LOW - 134.69
Thursday, February 14, 2008
STOPPED OUT
STOPPED OUT OF LONG AT 1349 EVEN FOR A 1.5 POINT LOSS.
TODAYS RUNNING TOTAL - (-4.00) POINTS.
JUST ONE OF THOSE DAYS!
TODAYS RUNNING TOTAL - (-4.00) POINTS.
JUST ONE OF THOSE DAYS!
STOPPED OUT - BREAK EVEN
JUST CANNOT SEEM TO PUT ANYTHING TOGETHER TODAY.
WE WERE STOPPED OUT OF OUR LAST LONG AT BREAK EVEN.
LETS SEE WHAT THE LAST HOUR AND 15 MINUTES OFFERS US.
WE WERE STOPPED OUT OF OUR LAST LONG AT BREAK EVEN.
LETS SEE WHAT THE LAST HOUR AND 15 MINUTES OFFERS US.
DOWNTREND LINE
KEEP AN EYE ON THIS DOWNTREND LINE.
THE MARKET COULD MAKE A NICE RUN IF WE BREAK AND CONFIRM THE BREAK.
THE MARKET COULD MAKE A NICE RUN IF WE BREAK AND CONFIRM THE BREAK.
TIGHT LEASH
BECAUSE OF THE LACK OF FOLLOW THROUGH ON THE WEDGE BREAK, WE ARE KEEPING A VERY TIGHT LEASH ON THIS LONG.
WATCH THINGS VERY CLOSELY HERE.
WATCH THINGS VERY CLOSELY HERE.
TIGHTEN STOP
TIGHTEN THE STOP UP, AS WE SEEM TO BE STALLING IN HERE.
MOVE STOP TO 1355.50 WITH A RISK OF ONLY 1/2 POINT
MOVE STOP TO 1355.50 WITH A RISK OF ONLY 1/2 POINT
STOPPED OUT OF LONG
STOPPED OUT AT 1360 EVEN FOR A LOSS OF 1.5 POINTS.
TODAYS RUNNING TOTAL - (0.50) POINTS
TODAYS RUNNING TOTAL - (0.50) POINTS
STOPPED OUT
NO SOONER DONE, THEN STOPPED!
STOPPED OUT WITH A 1 POINT LOSS.
TODAYS RUNNING TOTAL - +3.00 POINTS
STOPPED OUT WITH A 1 POINT LOSS.
TODAYS RUNNING TOTAL - +3.00 POINTS
MISSED THE OPENING RANGE BREAK
WE MISSED THE OPENING RANGE BREAK TO THE DOWNSIDE.
NOW WE CAN WAIT UNTIL WE GET AN INDICATION FOR A REVERSAL TO GO LONG.
NOW WE CAN WAIT UNTIL WE GET AN INDICATION FOR A REVERSAL TO GO LONG.
PRE-OPENING COMMENT 2/14/2008
Good Morning.
The S&P 500 is indicated 1 point higher this morning.
The Nasdaq is indicated 2 points higher.
The Dow is indicated 10 points higher.
Pretty much a quiet opening for the day before option expiration.
However, don't expect things to stay that way all day as the market right now
is in an early holding pattern awaiting Bernake comments and also some state
of the economy congressional talks.
The Daily Order calls for strength early followed by a sell off of sorts.
So keep that in mind as the day moves forward.
Very heavy resistance - 137.96 and 139.62 basis the SPY
Very strong support - 134.51
Yesterdays High - 137.10/ Low - 135.14/ Close - 136.42
Lets see what we get in the first half hour and remember to USE YOUR STOPS!
The S&P 500 is indicated 1 point higher this morning.
The Nasdaq is indicated 2 points higher.
The Dow is indicated 10 points higher.
Pretty much a quiet opening for the day before option expiration.
However, don't expect things to stay that way all day as the market right now
is in an early holding pattern awaiting Bernake comments and also some state
of the economy congressional talks.
The Daily Order calls for strength early followed by a sell off of sorts.
So keep that in mind as the day moves forward.
Very heavy resistance - 137.96 and 139.62 basis the SPY
Very strong support - 134.51
Yesterdays High - 137.10/ Low - 135.14/ Close - 136.42
Lets see what we get in the first half hour and remember to USE YOUR STOPS!
SUPPORT AND RESISTANCE LEVELS FOR 2/14/2008
SUPPORT AND RESISTANCE LEVELS FOR SPY
SUPPORT - 136.17, 135.96, 135.71, 135.44, 135.21, 134.88, 134.56/134.46
*******************************
RESISTANCE - 136.67, 136.88, 137.17, 137.40, 137.63, 137.96, 138.38, 138.63
Wednesday, February 13, 2008
CLOSING COMMENT - 2/13/08
ONCE AGAIN WE HAD A SITUATION THAT A COUPLE OF OUR TRADES TODAY DID NOT GET POSTED.
THEREFORE I WILL NOT INCLUDE THEM IN TODAYS TOTAL.
THE TRADES WERE BOTH THE WEDGES I ENCOURAGED YOU TO WATCH.
WE ENDED THE DAY WITH A RESPECTABLE 9 1/2 POINTS TODAY AND THIS WITHOUT
THE TWO UNPOSTED TRADES AND ALSO A DAY THAT FOR SOME REASON DID NOT FEEL VERY FOCUSED FOR ME.
THE DAY PANNED OUT TODAY ABOUT IN LINE WITH OUR EXPECTATIONS AND THIS IS GOOD FOR THE NEAR TERM AS WE SHOULD CONTINUE TO SEE HIGHER PRICES.
I HOPE THAT MOST OF YOU WHO HAVE BEEN HERE A WHILE ARE REALLY GETTING THE HANG OF THE RANGE TRADING. IT IS VERY POWERFUL AS HAS BEEN DEMONSTRATED AND ALSO VERY STRAIGHT FORWARD.
I WILL BE POSTING THE SUPPORT AND RESISTANCE NUMBERS LATER TONIGHT.
THEREFORE I WILL NOT INCLUDE THEM IN TODAYS TOTAL.
THE TRADES WERE BOTH THE WEDGES I ENCOURAGED YOU TO WATCH.
WE ENDED THE DAY WITH A RESPECTABLE 9 1/2 POINTS TODAY AND THIS WITHOUT
THE TWO UNPOSTED TRADES AND ALSO A DAY THAT FOR SOME REASON DID NOT FEEL VERY FOCUSED FOR ME.
THE DAY PANNED OUT TODAY ABOUT IN LINE WITH OUR EXPECTATIONS AND THIS IS GOOD FOR THE NEAR TERM AS WE SHOULD CONTINUE TO SEE HIGHER PRICES.
I HOPE THAT MOST OF YOU WHO HAVE BEEN HERE A WHILE ARE REALLY GETTING THE HANG OF THE RANGE TRADING. IT IS VERY POWERFUL AS HAS BEEN DEMONSTRATED AND ALSO VERY STRAIGHT FORWARD.
I WILL BE POSTING THE SUPPORT AND RESISTANCE NUMBERS LATER TONIGHT.
WEDGE SET-UP
KEEP AN EYE ON YET ANOTHER WEDGE.
THE LAST ONE WAS VERY PROFITABLE.
LET'S SEE IF THIS ONE CAN MATCH IT.
THE LAST ONE WAS VERY PROFITABLE.
LET'S SEE IF THIS ONE CAN MATCH IT.
TIGHTEN UP THE STOP
MARKET IS REALLY STARTIN TO STALL HERE, SO BRING THE STOP UP TO 1358.50 FOR A 75 CENT STOP LOSS
LIGHT GAP VOLUME
VERY LIGHT VOLUME ON THIS GAP UP OPENING.
MIGHT BE AN INVITATION TO FADE THE GAP.
WE NEED MORE CONFIRMATION, BUT IT CERTAINLY IS AN OPTION.
MIGHT BE AN INVITATION TO FADE THE GAP.
WE NEED MORE CONFIRMATION, BUT IT CERTAINLY IS AN OPTION.
2/13/08 - PRE-OPENING COMMENT
Good Morning.
The S&P 500 futures are indicated to open 10.5 points higher.
The NASDAQ is indicated to open 22 points higher.
After yesterdays wild ride, we will see today if the market can continue its upward bias.
The probabilities seem to favor it, however, given the current state of the market we need
to stay alert on the short side for those reversal opportunities like we saw yesterday.
So far the Globex S&P futures have been turned away by resistance at 1363-1363.50
A solid break of that level should send us even higher as this is the top end of the Value Area.
The Two Main Pivot Action Points Today are:
Buy - 1338.70/1339.70
Sell - 1362.00/1361.00
I will be posting both the opening range as well as the 1st hours range as they are calculated.
Lets have a great day trading and USE THOSE STOPS!!
The S&P 500 futures are indicated to open 10.5 points higher.
The NASDAQ is indicated to open 22 points higher.
After yesterdays wild ride, we will see today if the market can continue its upward bias.
The probabilities seem to favor it, however, given the current state of the market we need
to stay alert on the short side for those reversal opportunities like we saw yesterday.
So far the Globex S&P futures have been turned away by resistance at 1363-1363.50
A solid break of that level should send us even higher as this is the top end of the Value Area.
The Two Main Pivot Action Points Today are:
Buy - 1338.70/1339.70
Sell - 1362.00/1361.00
I will be posting both the opening range as well as the 1st hours range as they are calculated.
Lets have a great day trading and USE THOSE STOPS!!
SUPPORT AND RESISTANCE LEVELS FOR 2/13/2008
SUPPORT AND RESISTANCE FOR SPY
*************************************
SUPPORT - 134.71, 134.45, 134.11, 133.83, 133.56, 133.17
************************************************
RESISTANCE - 135.29, 135.55, 135.89, 136.17, 136.44, 136.83
*************************************************
STRONGEST NUMBERS IN
GREEN & RED
Tuesday, February 12, 2008
IT SEEMS AS THOUGH EACH TIME I AM AWAY FROM THE MARKET WE GET SOME OF THE BEST DAY TRADING SET-UPS.
I HOPE MANY OF YOU GOT ON BOARD WITH THE VIOLATION OF THE OPENING RANGE. THAT WOULD HAVE BEEN GOOD FOR 6-8 POINTS RIGHT THERE.
NOW WE HAVE THE MOVE BACK INTO THE OPENING RANGE FROM THE LOWS.
ANYWAY, THERE WERE MULTIPLE SET-UPS TODAY AND I SINCERELY HOPE MOST OF YOU CLEANED UP.
I WILL BE POSTING THE CLOSING COMMENT A BIT LATER AS THERE WAS NO TRADING ON THIS END TODAY.
TOMORROW IS YET ANOTHER DAY!
I HOPE MANY OF YOU GOT ON BOARD WITH THE VIOLATION OF THE OPENING RANGE. THAT WOULD HAVE BEEN GOOD FOR 6-8 POINTS RIGHT THERE.
NOW WE HAVE THE MOVE BACK INTO THE OPENING RANGE FROM THE LOWS.
ANYWAY, THERE WERE MULTIPLE SET-UPS TODAY AND I SINCERELY HOPE MOST OF YOU CLEANED UP.
I WILL BE POSTING THE CLOSING COMMENT A BIT LATER AS THERE WAS NO TRADING ON THIS END TODAY.
TOMORROW IS YET ANOTHER DAY!
RESISITANCE?
MARKET HAS BLOWN THROUGH THE TWO STRONGEST RESISTANCE POINTS FOR THE DAY AT 134.81 AND 135.06. NEXT STOP IS 135.42 AND 135.87.
CURRENTLY TESTING THE 135.42 AREA.
A FAILURE HERE MIGHT PUT US IN OUR FIRST SHORT TRADE OF THE DAY.
LETS SEE WHAT HAPPENS.
CURRENTLY TESTING THE 135.42 AREA.
A FAILURE HERE MIGHT PUT US IN OUR FIRST SHORT TRADE OF THE DAY.
LETS SEE WHAT HAPPENS.
Monday, February 11, 2008
SUPPORT AND RESISTANCE LEVELS FOR 2/12/2008
HERE ARE THE SUPPORT AND RESISTANCE NUMBERS FOR 2/12/2008 BASIS THE SPY
****************************************
RESISTANCE - 134.01, 134.25, 134.56, 134.81, 135.06, 135.42
***********************************
SUPPORT - 133.49, 133.25, 132.94, 132.69, 132.44, 132.08
******************
***********************************
GREEN NUMBERS ARE THE STRONGEST AND MOST VALID
Not a bad day today considering the rough start we got off to.
It was one of those days that seemed like we were on the wrong side of the market every
time we got in.
I was getting very close to just hanging it up for the day, but luckily it turned around for us and kept me in the game.
It just goes to show you that if you work your plan and stick to your stop loss rules things should roll your way.
So far this month, we are up 75.75 Points!
It has been a great month and I hope to only build on this momentum.
I had made a post earlier in the day about finding another venue for these posts.
One that would allow for an almost instant response.
If anyone had any ideas drop me an email.
It was one of those days that seemed like we were on the wrong side of the market every
time we got in.
I was getting very close to just hanging it up for the day, but luckily it turned around for us and kept me in the game.
It just goes to show you that if you work your plan and stick to your stop loss rules things should roll your way.
So far this month, we are up 75.75 Points!
It has been a great month and I hope to only build on this momentum.
I had made a post earlier in the day about finding another venue for these posts.
One that would allow for an almost instant response.
If anyone had any ideas drop me an email.
SEE YOU AT 2:45 PM EST
THERE SHOULD BE A LONG TRADE IN THE NEAR TERM HERE SO STAY ALERT.
REMEMBER ALSO THAT THE DAILY WORK CALLS FOR A HIGHER CLOSE TODAY SO SHOULD THE MARKET SELL OFF BACK INTO NEGATIVE TERRITORY WE KNOW IT SHOULD BE A SAFE BUY.
I HOPE ALL OF YOU ARE HAVING A GOOD DAY AND REMEMBER TO USE THOSE STOPS
THERE SHOULD BE A LONG TRADE IN THE NEAR TERM HERE SO STAY ALERT.
REMEMBER ALSO THAT THE DAILY WORK CALLS FOR A HIGHER CLOSE TODAY SO SHOULD THE MARKET SELL OFF BACK INTO NEGATIVE TERRITORY WE KNOW IT SHOULD BE A SAFE BUY.
I HOPE ALL OF YOU ARE HAVING A GOOD DAY AND REMEMBER TO USE THOSE STOPS
STOPPED OUT WITH 2 POINTS PROFIT
STOPPED OUT WITH 2 POINTS PROFIT.
TODAYS RUNNING TOTAL - +9.75 POINTS
TODAYS RUNNING TOTAL - +9.75 POINTS
COVER SHORT
LETS JUST GET OUT HERE AT 1337 WITH THE 2 POINTS AND CALL IT A DONE DEAL
TODAYS RUNNING TOTAL - +7.75 POINTS
TODAYS RUNNING TOTAL - +7.75 POINTS
DAY TRADE
SO MUCH FOR THE ROLL-OVER.
HOWEVER, THIS LAST MOVE UP DOES BRING SOME NEGATIVE DIVERGENCES TO LIGHT.
HOWEVER, THIS LAST MOVE UP DOES BRING SOME NEGATIVE DIVERGENCES TO LIGHT.
YOUR HELP WILL HELP US ALL
YOU CAN WAIT UNTIL THE END OF TRADING TO SEND ANY SUGGESTIONS, BUT
DO ANY OF YOU KNOW OF A WAY THAT I CAN DO EXACTLY WHAT I HAVE BEEN DOING HERE, BUT IN A BETTER FORMAT.
IN OTHER WORDS, IS THERE A BETTER PLATFORM FOR THIS THEN BLOGSPOT.
YOU SEE, SOMETIMES IT SLOWS ME DOWN AND AFTER I SEND OUT A CERTAIN NUMBER OF POSTS I HAVE TO ENTER A SILLY STRING OF LETTERS TO VERIFY I AM NOT A ROBOT.
ANY INPUT ON THIS MATTER WOULD BE MOST HELPFUL.
P.S. THE PLATFORMS DO NOT HAVE TO BE FREE. I AM WILLING TO DOLE OUT SOME CLAMS FOR SOMETHING USEFUL.
THANKS
DO ANY OF YOU KNOW OF A WAY THAT I CAN DO EXACTLY WHAT I HAVE BEEN DOING HERE, BUT IN A BETTER FORMAT.
IN OTHER WORDS, IS THERE A BETTER PLATFORM FOR THIS THEN BLOGSPOT.
YOU SEE, SOMETIMES IT SLOWS ME DOWN AND AFTER I SEND OUT A CERTAIN NUMBER OF POSTS I HAVE TO ENTER A SILLY STRING OF LETTERS TO VERIFY I AM NOT A ROBOT.
ANY INPUT ON THIS MATTER WOULD BE MOST HELPFUL.
P.S. THE PLATFORMS DO NOT HAVE TO BE FREE. I AM WILLING TO DOLE OUT SOME CLAMS FOR SOMETHING USEFUL.
THANKS
CLOSE STOP
KEEP A CLOSE STOP HERE AS IT WANTS TO BREAK HARD ONE WAY OR THE OTHER, BUT WE DON'T KNOW WHICH.
STALLING AFTER THE WEDGE BREAK IS NOT GOOD
BUT A CLOSE STOP WILL PROTECT YOU
STALLING AFTER THE WEDGE BREAK IS NOT GOOD
BUT A CLOSE STOP WILL PROTECT YOU
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