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I get your logic, and it makes perfect sense. What I'm not so sure about is the 1200 before 1170 part. Yes, it will hit both, but in what order :) That's what I'm not willing to risk 10 points on.

That's the problem -- my direction feel is not strong right now, and even when it is sometimes, I'm still dead wrong. 6-8 points is a little beyond my acceptable risk tolerance, and I would need to see about 20 points profit to make that viable. And while I see evidence of buying, I do not...

Honestly it seems that the market wants to go higher, but that perhaps stops below yesterday's low need to be taken out first. Buyers are buying these dips, still it's more bearish, but there's a feel for a desire to move up, just not ready yet.

Hard to objectively define, but lots of buying, looked bullish. But there was no follow through up above 85... However, failure to break into yesterday's value area, and still below today's IB low, holding lower distribution. Quite bearish. http://screencast.com/t/dusJpMIb0

tape looks long

Thanks gmst, I'm not quite there yet my friend, maybe one day!

There is a ledge at 92 -- this is the August to present profile again, was the basis for my target along with the intraday profile and prior s/r -- failure to go above 92 here may indicate more downside.. 92 was quite important this morning and appears to be so in the long term profile as well...

Thanks brother, appreciate your encouragement, I'm off to get a much needed hair cut :) Later all

Thank you LF--I did expect 85 to hold. But, this time I wanted to give it room just in case, as the bulls were in control since 11:45, and thought that the trend line break might trap enough bears to push it higher. I figured that if the prior swing low did not hold that I was dead wrong...

stop to 88.25, target 91.50

I have no idea about globex trading .. here's the trading hours for the holiday though: http://www.cmegroup.com/tools-information/holiday-calendar/files/2011-thanksgiving.pdf

Filled 85, stop 82

LF, I have seen huge moves on holiday times, even on holiday-shortened trading days. The volume is always lower, but volume is not necessary for price movement. I will not be trading Wednesday through the end of the week, but that's due to other obligations which won't allow me to. So I'm not...

buy limit at 85

Yes and yes -- most people will be traveling Tuesday/Wednesday, and will return back to normal on Monday.

I agree. Preferably 85, perhaps 84.

It "feels" dubious, but perhaps that's the holiday volume. It's not like the move down was terribly exciting either.

Broke above IB low with pretty good authority, 87.25, holding. Next move up is to 1190, mode of upper distribution. But I would like to see a retest of 86 to confirm we have switched to long.

> 85 => looking long < 85 => looking short