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Just an observation, but the mid-level today is 1277.50. We've been bouncing up off that for the last couple of hours. It seems like if you are trading long here, you have to have the stop under that level. And don't worry about the currencies, very low correlation between currencies and...

Looking for a decent sell off to buy the close. Should easily see yesterdays close before the end of the day. If not today, don't be surprised to see the Sunday traders take it up.

High value entries occur after sufficient sell offs. At this point it would have to break 1274.50 and than hold some level. I also am looking for the volume weighted MACD to go to about -90. Sometimes this is a game of ticks. On yesterdays closing trade I took the early entry at 1278.50...

Typical early consolidation after a big day. Odds favor trend resumption by the close. I show a secondary buy signal off the hold at 1274.5, but am waiting for a 'high value' entry. May not get it.

I keep track of that in the app I posted, bottom center under 'Strength'. I can reset that by pushing the 'Strength' button. If I'm bullish, I like seeing it negative as it indicates potential future buying pressure, especially on the close.

I wrote my own. It takes input from eSignal and my broker. Does a pretty good job of managing trades, OCO, trailing stops, entry strategies, etc.

As much as 'elitetrader'. Too much distraction to post trades manually, so I built it into my trading app.

1267 is a key trend line support that hasn't been touched for a few days. 1274.50 is the late low. I've traded off that low 4 times this am for +7. After spending all day yesterday getting even from a misconceived early short, feels pretty good - hoping to end the week on a positive note...

You have to understand, newly overbought markets almost always test their highs the next day. So there is really no sense in shorting anything other than a new high until some other pattern forms.

There is usually a continuation trade in the late afternoon. That 1273.25 breakout level would be a nice retrace. Still looking for the spec short at 1285.

On 8/1 the market came off 1270.25 up to 1285. I really don't see any resistance before then, although the market could make some of course.

Market depth can be very deceiving, I disabled it. Linda Raschke teaches that quantity attracts trades - and she's a 'Market Wizard'. After hundreds of hours of observation, I would say there is a slight tendency that way. So if there are more ask limit orders, price should move up to that...

Stop management is certainly the most difficult aspect of trading. I know I do a terrible job of it. Set stop, cancel stop, reset stop, be thankful for a minor retrace to get out. It probably works out for me in the sense that the net losses are probably about the same. But I think the...

I think the closing (last hour) trades are the most technical in the sense that they 'continue' the current trend more than any other time period. Often times you'll see a complete reversal in the after hours and you ask yourself what were they thinking on the close. Well, they weren't...

I have pretty rigorous minimum requirements of value/momentum to enter a trade. You can see I bought 1222.25 three times today before hitting the big move. Thought I closed it at a pretty good spot, +10.25 looking for a 'system' reentry which I probably get 85% of the time, just not today...

I've been waiting for a decent retrace for the last 2 hours to reenter long. Nothing doing. In general, in the last half hour you should ask 'who is stuck more, the longs or the shorts'. Pretty clear that the shorts are stuck so a strong close is far more likely than a weak close.

BTW, here is my twitter feed for today: Real Time Trading on Twitter 10/26/2011 10:48:51 AM 100 percent Ask ESZ1 123250 30 minutes ago 10/26/2011 10:23:51 AM 100 percent Bid ESZ1 122225 55 minutes ago 10/26/2011 10:21:28 AM 100 percent Ask ESZ1 122325 58 minutes ago 10/26/2011 10:08:21...

I tweet all my trades in real time and periodically update my results on my website. I may be clueless, but the results speak for themselves. BTW, in the trade, 'gamblers' are sometimes called customers. So as one of my customers, thank-you.

Would you rather have game or money? A serious question because I know I went through a period when I was more about the game, now I am again more about the money.

Don't over think it. If I had used your plan I would have been +2, +2 +2 for +6 which is a good days trading by any measure. As long as you have sound reasoning behind your plan, you'll be in the 1%.