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STOPPED Loss: $75 Total Loss: $275 On a possible reward of $2,250. I do not have all the tools most day-traders have, but I am thinking this thing could have gone either way. Now we can expect that this low-volume action will reverse at 874 to eventually reach the 854.50 UT...

...the battle rages - and I get STOPPED w/ head-fake? Loss: $125 We shall see if is head-fake. . . Entered 1ES @ 868.75 STOP 870.25 Target: 854.50

Filled @ 867.75 FYI: another contributing factor is probably that the NQ already hit and went through it's UT (ultimate target) - perhaps causing a strong bounce. Let's hope for easy sailing from here! It hasn't yet, but I am seeing in advance a <i>quick</i> 5 point drop. We shall see...

The BD (breakdown) level was 874 - so we are still below it. Seems the bounce was between the level I got into around 870 and 864.25 that it bounced strongly off of. Entered STO 2ES with 1.25 STOP.

This thing is ALL over the place! It hasn't <i>really</i> made a higher high with the larger trend. . .but has made <b><i>three</i></b> of these with the trend within the trend. I closed (1) with the 871.5 STOP at market. That left me w/ one. . .that got STOPPED. Ended up w/ $75...

1ES STOPPED @ 867.5. This thing made a BIG jump to 869.5 so added one more SHORT w/ 1 point STOP.

Added 1ES more SHORT at 866.5 w/1 point STOP.

866.75

868.5 Adjusted STOP to 871.5 (breakeven) Note: it did make a temporal shift with a higher high.

Filled

How's this for a day-trade: SPX @ 872.5 STO (1) @ STOP 871.5 STOP 875 Profit Target: 854.5

Since I posted opening this position. . .I will post the closing. Stock went ITM,so <i>almost</i> all expected profit has already been achieved. <b>Monday, December 15, 2008</b> 10:25 am EST <b>Bought (4) EXM Dec 5 (EKNLA) call option contracts at $2.35 (ask). Sold 400 shares of EXM...

As always, the best to Bandonf. paysense

Trying to <i>guess</i> the short-term direction or for that matter the long-term market direction will leave <B>most</B> frustratingly wrong. I am leaning towards the idea that the recession by historical standards will be on the very long end if/when it lasts for another 6 months or so...

I don't generally agree with government bailouts - but with my views out-voted on a GRAND scale (ROTFLMAO). . . Now is not the time to <b><i>him'n'haw</i></b>. paysense

Some other random key notes I jotted down: (from past, still applicable) Memo: keep DD to a minimum. Going to use small LONG stake as a gauge. ==When do I take off hedge on small LONG?== (Remain patient as much volatility precedes bottom.) Now must watch to see if resistance is...

You are right, I started with a bit too much detail and am going to make the effort to scale back considerably. As a "swing" trader/manager I do well enough - not to have to day-trade. Although this HIGE amount of market volatility keeps me more often than not at the computer screen. IOW...

- NOT good for LONGS. :confused:

I may not be one of the folks that check out RFT's link, but I am satisfied <i>at this juncture</i> that the market's prices on or around late-trading Thursday (time-stamp of 3:33 pm may or may not <i>exactly</i> coincide with my added "swing" positions), but if you pull up a chart you will see...

If the market bottom and rally is for real, the coming week may produce the strong gains we are looking for. We shall "watch and see". :D