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It is simple sir, the ball had no balls! :cool:

It doesn't look like anyone wants to step into the wrong side of this train.p$ Volume is massive to the upside! :D

:D 2:20pm with no reaction fro the indexes (yet)! pay$

With just 2 minutes ahead of the Fed rate cut. . .I have only been nursing my slightly bullish long-term positions. I must of bought and sold the NQ to make incremental gains more than 10 times. Didn't affect account much. If I get an opportunity to get more LONG with a pullback I may...

According to Joe Baker we are in a trading range and these levels are key.

Excellent - thanks.p$

LOL

I guess the mostly dead-on target from Joe Baker - although a valiant effort. . .never quite was met. Did you see the rush of volume that came in pushing everything suddenly up?!? Exactly why my main ("swing" LONG) positions are completely hedged and I am sitting here all day watching...

<b>Monday, December 15, 2008</b> 3:40 pm EST <b>Bought 300 shares of AKS (AK Steel Holding Corporation) at $9.50 (ask). Sold (3) AKS Dec 10 (ASJLB) call option contracts at $0.55 (bid). Stop Loss:</b> $8.95 Meanwhile as the PPT or some major headline hits. . .these still work good...

Lesson still not learned (well enough): On days trades aren't going your way. . .<b><i>sit out.</i></b>

AGAIN getting a bit profitable ($75) and then BOIngGG!!! $475 Loss on day. :D

Still a 1 point STOP - now is NOT when we want a good bounce!!! We shall see. . .

Didn't get hardly any bounce, Loss: $100 so reversed SHORT Target 854 (remember this, we are almost there!)

I imagine the market's action today is entirely counter-intuitive to a lot of "fade" traders. With (small) losses already - I should probably stay on the side-lines. But I'll try a different tactic: <b>B</b>TO 2 ES @ 860 STOP: 1 point Profit target: ?

Dern, if I had known I coulv'e scalped 5 points 8+ times today back and forth from 856 - 870. Any take on where/how we will end? I know I don't! :) Besides, late-day action has been quite unpredictable of late.

Well what I missed by going to a meeting, leaves me no worse for wear. What intra-day bias do you have? it seems we never formed a shoulder and in fact - immediately moved sharply lower (a bit) only to head-fake right back up. Now we can see that the overall daily trend is downward with...

It is SO hard to gauge this market with the Fed meeting and options expiring on Friday. Now the ES is at the armpit of a head-and-shoulders pattern. IF we get a bounce up to form a right shoulder (reverses lower and does not make a new high) perhaps with traders coming back from lunch we will...

I probably should have posted this sooner. Food did help and this So Cal weather has turned East Coast! I think I will scan to add another covered call trade.p$

This effort has left me spent for the day. But I reserve the right to jump in at any time. I toggled over to my other account that is doing fine. I STO 2NQ at 1188 w/ a 5 point stop. This actually (temporarily) increased my bearish exposure on my longer-term positions. They are now shift back...

Remember it did break the first hour low, yet is now trading above it and we are still in the breakdown zone. We shall see if trend reverses. I am not absolutely sure, but I think most days will close down if they break that first hour low. pay$