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SPY 3min bumping up against resistance at the 200ma. <img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111125spy.png">

Wow, got creamed today trying to go long. Stupid me. Actually, it's not that I got creamed. I just lost a little bit on many trades, totaling a $200 loss for today so far. That's alot for little ol' piker me.

Next 5-min buy on SPY might be ok

I actually have a long bias this morning. Target on TZA to the downside of 32.00

When the Dow falls through November's lows at 11630, I think it will fall hard and fast, perhaps 500 points or more. This won't happen in a day, but probably within a few days. I'm thinking this will all happen before the end of November. <img src =...

"Your goal s/b to lose money only on good trades." --T3live.com free 30 day online course, lesson 21 [This will help you to not throw your money at every little trade that comes along, just to get yourself some action].

Actually, if I view the 60-min SPY on an intraday basis, it shows a slightly different chart, because the bars are calculated on the half-hour (eg, 9:30 - 10:30). So looking at this chart, I think I can raise my stop to 121.79. SPY pulling back alot now. Looks ugly. Let's see what happens...

I think the real target here would be yday's high at 124.40, but I don't think it will reach that today. I will probably exit today around 123-123.10, if it gets there.

In at 122.08. Stop at 121.46. Kind of a large stop, but holding for 123+.

Actually, the 60-min SPY might be a less risky trade, if going for the 60-min buy setup. <img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118spy1221.png">

I'm thinking the next 60-min buy on TNA might be ok. It would be a wide stop though. I've never traded off a 60-min chart before. Could be interesting. Could also be costly, lol. <img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118tna1217.png">

TNA through yesterday's low. But SPY has a higher low than yesterday by $0.25.

I should've reversed. Wasn't thinking.

Out -.16

In at 122.07. Stop at 121.91

Looking for the next 5-min buy setup here. <img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118spy1151.png">

This quote simply reminds me to always play small. When I play larger size than I should, I get scared and it makes me exit at the wrong time, whether for a loss, or to lock in a tiny profit. So I like to aim to play small.

"If emotion is in your trade, it is a wrong trade." I'm not sure who said this, but I think it was Mike Bellafiore in his book "One Good Trade".

oops, wrong chart, sorry. Will post more tomorrow.

Looks like SPY may be ready for another up-move here on the 5-minute. i guess I don't really trust it though. I'll pass on this one long. <img src="http://i1233.photobucket.com/albums/ff390/Hopewell3/111117tna1049.png">