Friday 12-28-07

If I had a scenario that I would like to see played out in tomorrows session it would be the following:

These higher prices in overnight ( up at 94.25 as I type)will be met with selling to drive the market down to weekly pivot at 1481..then buying to take over to upside in the 1475 - 1481 area...

on any lower open I'd like to see an initial drive down to be met with buying...

I'm also looking for two sided trade off the open price...so initial push down will trade back through the open on upside and / or an initial push up will trade back down....I am biased to upside in general....

Too much Rum Egg Nog tonight....predicting is fun...sometimes....but actually it's my basic plan...there are those who can be like a reed in the wind and "listen" to the message of the market very well. I am not one of them...I set up " If , then, Else" scenarios ahead of time....a spill over from my days as a programmer

Thanks for sharing that plan Bruce...I'l be keeping an eye on that.

My plan for today is simple - look for sell sigs 6.50 points above the open or look for buy sigs 6.5 points below the open

Good size gap up this morning...

... possibly an inverse H&S pattern trying to form ?

Bruce - I see we filled your 1500.25 in over night trading.

Is that still valid for RTH ?

yes..but it sure seems like we have to put in the low first...I'm starting small buys at 95.50...concern is gap down below and weekly pivot still not satisfied...triples and VA high tested in overnight so this is tricky..first target is 98.75

quote:

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Originally posted by gio5959

Bruce - I see we filled your 1500.25 in over night trading.

Is that still valid for RTH ?

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odds favor a return to the open..but from what low prices??

got the open price and tightened runners..no 98.75 yet,,,stop at 95.75....so far they have played well with the first push down and then the trade to other side of opening price.....other concern is that we are below the 1500 key number so long side may still be limited

this is always harder when they open it in between the overnight range as it doesn't give great fade opportunities

stopped out on runners...will be trying to buy a break of 30 minute low if it happens

Well, i guess im on the wrong side again cuz im short and ur long - my first target is 93.5 from the second time the open was touched

quote:

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Originally posted by gio5959

Well, i guess im on the wrong side again cuz im short and ur long - my first target is 93.5 from the second time the open was touched

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Second target is 1491.00

I'm just about out of rum egg - nog but I gotta pat myself on the back for this one......they nailed that 1481 number to the tick...clearing out some triples along the way...I missed it but would have rather been on the slopes anyway.......the 1481 was the weekly pivot...

quote:

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Originally posted by BruceM



These higher prices in overnight ( up at 94.25 as I type)will be met with selling to drive the market down to weekly pivot at 1481..then buying to take over to upside in the 1475 - 1481 area...

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