Emini Rejected and Dejected
Yesterday’s RTH low broke, triggering the short site feeding frenzy.
It was very courteous of the market to bounce to the half gap area and give us some symmetry for the aggressive short in the first hour of trading. Love it when the market comes to me and I don’t have to chase it.
Anyone can make the calls after the fact, so I will spare you the details. Let’s just say that the secret code is alive and well, and spotted the trend day shorts all day long.
Shame on you if you got trapped at the end of day bounce from the new lows.
There is much trader talk going around about the tax structure for securities. Traders are encouraged to write and complain about this egregious bill that will penalize most of us and make it much more difficult than it already is to make profits.
Does a 500% increase make sense?
Please pass the excedrin.
Nazy sent me another good article on the emotional and psychological side of trading. I think this is valuable information so I pass it on as it may be of interest to you.
Nazy Massoud, a Wall Street Insider, shows traders, investors and hedge funds how to master the “Mental Edge” necessary to manage their Emotional Risk. These principles help them learn how to consistently make more profits.
For more tips and a FREE report — “The 3 Biggest Psychological Triggers That Can Make Or Break A Trader,” go to www.MentalEdgeTrading.com.
123 Lower Lows are difficult to gauge; careful of shorting too low on flushes.
Another tradable bounce may be coming soon.