Jamm E time
Yesterday’s post we talked about the Boyz favorite game… pb and jam.
Second helping today after digesting the meal this morning…
A few nice trades for the short side, and eventually as the day wore on all could be seen as contras.
[08:03] E: 15 min chart clearly is in play
We had a sideways to bouncing bias.
The market was reasonably mechanical, but as usual, unless we are willing to accept market risk for reports, we need to play hit and run trades and work around it. 1108 was our IB support.
The half gap and gap trade was suggested at the open for aggressive traders, and shorts past 12 were trailers only. Yesterday’s marker at 19.75 was used for resistance after the first few minutes of rth.
The higher highs and higher lows pattern was observed, and my premise that the market would not plunge; it needed time to absorb yesterday’s late rally. I also believed today’s range would be smaller than the past few days, having some of today’s range already accounted for and stolen. (30 to 40?)
We had a completion target of 43 to 45, but felt 42 was resistance EOD.
CG nailed it:
[13:18] C G: I like 36 and 41.25
Steve Jobs has passed away. He was an extraordinary person, and a visionary.
He now lies in eternal sleep, but what a legacy he leaves behind.
We never know how far our dreams and efforts will carry us… keep on keepin on.
How many seeds in an apple?
How many apples in a seed?
We did a seminar today on the D.N.A. of the market.
Think about that one for a minute…
I wanted to see a db hold for the second assault long today, and correctly guessed the 17/19 was the perfect support target.
Lucky guess? Absolutely.
“Educated” as we like to say. About three or four good reasons to believe in that idea.
CG is one of those seeds who has studied the Eminiwizard system…
…we never know how far our legacy will reach.
Stand by me…and together, nothing is impossible.