Rock an’ Roll
Well, wasn’t today something?
Last week we suggested that the range from 875 had been expanded to 925, and the middle was 900.
Suggestion: Let the gurus and the economists guess, while we make money every day from the market gyrations.
In hindsight, everything is crystal clear.
The symmetry is absolutely beautiful; and calls for 960 and 1080 and 1200 are just that: calls.
“How Do I make money by accepting a small risk” is a question that I am forever asking myself.
Sprinkled throughout the random musings I posted on Twitter, are what I consider to be some of my best thinking as to why the market does what it does. If you are studious you will jot these concepts down and try to integrate them into your trading.
Early morning the market rocketed and the half gap and gap play worked, as the market tested the overnight high, pulled back to our magnet and chopped around. The retest of the high was a perfect head fake that tested the Angel we called, and then it gently pulled back to the magnet, to no man’s land. partial profits, if not all, needed to be taken depending on your situation.
” The shorts need to get it done soon or the players will take profits before lunch.”
Get it done they did, as the market rolled over, and the knife down left the longs trapped, and the bounce was minimal.
Best Thought of the Day: Respect the Demon at 95.25
Worst thought of the Day: Respect the Magnet at the 91 area, lighten up. LOL.
We cannot know that it will break; if it didn’t, then 98, etc get tested if it breaks out again. So we take partial profits, and trail for the retest of successive support.
The 76 was called as an available target, and we gently reminded traders of last week’s low needing to be taken out before the 74 target could be attained.
Step by step is the way I think, and late Friday it was prudent to be gone near the 77 to 78 area, if not before. The 79.5 Angel needed respect at the end of the day if you prefer to go home flat, as we do.
“Be a swine, and you will whine.”
A special thank you to “Cato” for helping spread the word about our offering. I am looking forward to working with the first group of traders who want to learn my methodology. When we get a minimum of 25 interested, we are ready to go.
Meanwhile, enjoy our blog and site. I may pull back some from twitter for now and redirect my efforts to marketing.
The results are there for all to see, and if you have been following along, they show the power of integrating a number of different ideas into your plan.
Thanks in advance for passing the twitter link around to a few traders who you feel may benefit; let them draw their own conclusions.
Please, no hype, no exaggerations, no promises.
Angels and Demons opens today; you know what I am going to do this weekend.