Trading to win using the Secret Code of the Illuminati

Theta is Burning

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Risk and Reward

“It’s option expiration; we want to think of a broad range, but not a plunge.”

A plunge would be taking out Friday’s low, and going lower.

We wanted to test primary support today, which we felt was 1282 rth.

——————–

Our premise was that most shorts would get left at the station, afraid to short after being hit hard Friday. Expecting a safer bounce to fibo resistance, we said to our members the only way likely to catch this is use the half gap as resistance, and said it was aggressive, and certainly not for everyone.

Targets were identified early on and sequence traders enjoyed a terrific day.

The odds changed at lunch, and I said I hate to recommend a “guess” against the trend, but using 78 support try the scalp long for the retests were probably a better bet.

Zeek nailed it with his call for 81 being the buy.

Kudos.

Power charts helped see the zones of chop, and if you remained flexible in your thinking, we were able t make money both directions.

One good trade a day is all we need. :)

——————-

RT @JT707: Options exp this week … http://bit.ly/ecQFmy / Thank you #EMWS

RT @RenaTrader: $ES_F Moved STOP to b/e at 1288.50 on last 1/4, trying to sell at 1294.50 – going out for dinner. BBL / great trade

RT @yeeron: After squeezing bears best way rub it in sell off into open. it did #indices $SPX $DOW $FTSE $DAX $NIKKEI / lol exactly #EMWS

RT @yeeron: …They make the finest poker players. :-) / but we know that Break outs get retested :) #EMWS

@yeeron awesome insight :) remember what we said about daily chart … # EMWS

@yeeron there would be a battle early this week we said

@yeeron and remember this ?

@RenaTrader what a way to start your week :) wtg

Rena : @eminiwizard thanks E, have a great week! 😉

Yeeron :RT @eminiwizard[09:15] E:theta burn possible[08:44] E: suggest we try hitting bounces [09:31]E: using that 96 97 just like friday as first resistance #EMWS

[08:44] E: scalping idea [09:59] E: 96 is half gap and theoretically resist for $ taking

gap filled at 82.75 #EMWS target achieved

[09:30] E: 82 is t1 and support (target) [09:44] E: key is av pivot 95 #EMWS

@smilinghiker @yeeron thanks for rt #EMWS

[11:34] E: odds better for scalps long against the push [14:25] E: this is scalping short territory [14:28] E: what is IB low?

[14:29] E: so this is retest the bd [14:39] E: scalping looking for 85 test [14:39] E: this is fridays rth low #EMWS

RT @Nirav777: Need to find a new avatar, anyone have any ideas for me? $ES_F / naked runner? #EMWS

E: 14:21E: afternoon is for taking away your profitsE: 14:2]E: be conservative[15:00]E: we dont want to be too agg this afternoon #EMWS

RT @MissTrade: Does Anyone Seriously Believe the Global Recovery Is Still Intact? http://bit.ly/i4wtZc / [08:17] TC 89: the correct play was short it and carry trade over, imo
[08:17] E: that is an exogenous event with unknown repurcussions
[08:17] E: from food to money to human suffering

[08:17] E: japan cannot possibly be interpreted as good news … so our choice was hit bounces #EMWS

then think theta burn after primary support tested , and likely mkt bounce as the Angel is born to test the Demon #EMWS

————

After hours…same old…

Attacking the 78

Comments

  • eminiwizard (Author) said:

    should be 75 72 test anyways

    profit taking is 72 support

    anyone who buys good luck http://bit.ly/ic9Ht1

    We envisioned stall rth then rotate here http://bit.ly/gjf4KQ 75 support was too tight thats where stops were and became targets #EMWS

    RT @JayMaven:Things getting pretty hairy. RT @JayMaven: If current low doesnt hold, low 1270s to mid 60s well within reason #EMWS /agreed

    @smilinghiker thanks hiker :) much appreciated # EMWS http://bit.ly/gbptQx

    @eminiplayer what’s one point among friends ? thats a gimmee on the golf course # EMWS

    @eminiplayer lol that 77 zone is important agreed :) great work player #EMWS

    @eminiplayer ty june has the 67 gap march was 70.5 i believe http://bit.ly/e6hIV6 #EMWS

    RT @eminiplayer: @eminiwizard Yep, 66.50 is calendar spread adjusted and based on CME settlement / thanks player < < one smart dude #EMWS read the charts ... 66 test was destined #EMWS natural targ is 66 support see if it holds #EMWS we are witnessing history in japan @Jediphone lol Jedi Gentleman trader :) #EMWS

    @JayMaven Kudos nice analysis as usual Big guy ... http://bit.ly/hDPQ2k

    RT @eminiplayer: Flat at 72.25, +4.50 / great touch player … u can putt for me tomorrow #EMWS

    RT @CGinthehouse: Holy crud, What did you do to the market while I was out? #EMWS / entering daily angel test for the year #EMWS

    @CGinthehouse 62 first #EMWS can go to any low including the 57 test

    @CGinthehouse take profits b4 60 is smart … trail all u can do (risk reward) #EMWS http://bit.ly/dFrylM

    @Jediphone @CGinthehouse ty 56.75 was t1 for week so peel out #EMWS

    RT @HamzeiAnalytics: we just witnessed a massive destruction of risk capital in matter of 3 hours /vaporized #EMWS

    bottom guessers good luck … taking profits not the same as guessing bottom in this environment #EMWS

    Crocadile …. http://bit.ly/hNhN1t #EMWS

    56.75 was T1 target achieved at 57 #EMWS

    can go to any low #EMWS

    last years settle 1253

    kudos #EMWS wtg proud of u trend traders ZEEK is smiling :)

    @matrudenko @eminiplayer @CGinthehouse @JayMaven @MissTrade @Tranquil_One @apexpmh @Jediphone @smilinghiker thanks all for posts #EMWS

    RT @DiogoMattoso: @eminiwizard Nice to see you’re using a hashtag now.. Easier to follow the conversation!! #EMWS / thank cg and Maven

    print and save http://bit.ly/eWyRAC #EMWS

    RT @vader7x: 6 pts in 3 mins. my kind of market / lol remember the days we would go all day for 6 points ? #EMWS

    @CGinthehouse thanks CG :) note the angel low 48 (pink arrow) on the daily key for now #EMWS

    @VictorZubarev thanks Victor for rt #EMWS

    RT @IRON100: Need sleep now. Will sleep first, tweet later. Good night all. / lunch is for wimps and so is sleeping #EMWS

    RT @IRON100: Need sleep now. Will sleep first, tweet later. Good night all. / lunch is for wimps and so is sleeping #EMWS

    @IRON100 lol just kidding #EMWS I’m tired too

    RT @mrtopstep: $ES_F #futures – anyone looking at the 1249 area / yes if that doesnt hold… 44 on deck

    RT @VictorZubarev: @eminiwizard No, we should TY Sire, dig your charts / ty Victor :) #EMWS “step by step”

    RT @faafa1: Prayers for the Japanese people. My heart goes out to you. / Amen

    RT @CGinthehouse: @eminiwizard are you in the room.? #emws / No .. but will open it for a few mins c u there #EMWS

    RT @MissTrade: @eminiwizard @cginthehouse late forbyou east coasters d we will be lower tomorrow rest well cg / thanks matt #EMWS

    @Jediphone thanks jedi for RT #EMWS

    @Jediphone lol room is open i am going to bed … but about 5 traders there go join them #EMWS thanks for rt jedi

    RT @Jediphone: Nassim Taleb: Black Swan. Listened to that book twice, thought he was a genius. If … it’s worth the price. #EMWS $$ / yes

    RT @Allonblack1: @Jediphone @eminiwizard can you see the other questions? I can’t. #FT71 / no … sorry cant help u with that room #EMWS

    [00:58] E: 72 as resistance http://bit.ly/h5FoTH

    RT @JeffreyLin: RT @WILLSMlTH: Retweet if you want me to follow you back. I’m picking two lucky people. $$ /anyone else get lucky ? #EMWS

    [00:57] E: so 48 supp [00:58] E: 72 as resistance http://bit.ly/hsy3YE #EMWS ( @WILLSMlTH I will follow u back if u follow me )

    @SE1_CM @JeffreyLin @rod_bowen thanks all for the RT avoid trouble day #EMWS

    RT @JeffreyLin: RT @WILLSMlTH: Retweet if you want me to follow you back. I’m picking two lucky people. << @eminiwizard will teach u to trade futures $ES_F / lol thanks Jeff #EMWS

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