AI
Monday, October 10, 2011 4:05:59 AM
If thats all one did was to chart the double~tops & double~bottoms across the major sectors and trading vehicles this is where the easiest profitable trades came , especially if one was seeing that H&S pattern on the S&P early on last spring .
There were so many of them...in rarer cases they might go higher ...they'll always pullback . More recently the last dip below 1100 and having catcher's mitt on was the only way to fly , it's trading this chop in between into earnings where there's trouble ...
In this market its looking for those lower d-top pivots that will come soon in on these earnings pops & drops nothing is going to break out in this climate guaranteed... if you miss the squeeze still get it on the pullback (short) or if you miss the drop you get to catch the bounce (long). Easy to stay relaxed thru all the drama trading like this .
Mentioned MON hitting a congestion lower top area at $72, it can go higher but did 3 trades friday on this one slow mover knew it wasn't selling off much but two shorts & one long worked from that $72 area which alone made for a real good payday...sneek in & out like a little mouse just trusting charts
Can go higher , but was pretty reasonable to see a pause here
There were so many of them...in rarer cases they might go higher ...they'll always pullback . More recently the last dip below 1100 and having catcher's mitt on was the only way to fly , it's trading this chop in between into earnings where there's trouble ...
In this market its looking for those lower d-top pivots that will come soon in on these earnings pops & drops nothing is going to break out in this climate guaranteed... if you miss the squeeze still get it on the pullback (short) or if you miss the drop you get to catch the bounce (long). Easy to stay relaxed thru all the drama trading like this .
Mentioned MON hitting a congestion lower top area at $72, it can go higher but did 3 trades friday on this one slow mover knew it wasn't selling off much but two shorts & one long worked from that $72 area which alone made for a real good payday...sneek in & out like a little mouse just trusting charts
Can go higher , but was pretty reasonable to see a pause here
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