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Previous Intraday Trading Session: [ 11/21/2008 ]

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TIMEALERTS 
15:48We got our predicted top, and move down.

 
15:46Now getting as low as 775 after setting high of 791.

 
15:39We are at 790. Sorry gambler. :-(

 
15:38We should be within 5 minutes of the top.

 
15:35Send any comments on the Trading Room to office@oss.cc

 
15:34Our gambler never got in at 770

 
15:33Expect a top to form around 15:40

 
15:29A gambler would get in at 770 and shoot for 790.

 
15:28Support is 765

 
15:27Next resistance is 790

 
15:27I see now that there is resistance at 775.

 
15:25Currently, there are no more reversal times today.

 
15:24We are still outside the triangle indicating further moves up.

 
15:22I said earlier that the market has been moving sideways since yesterdays drop, and this indicates a move down. It could also be viewed as a rectangular bottom meaning a move up. I do not know how to spot the difference. Either way the small, almost doji, candle at 13:30 was a dead give-a-way something was going to pop.

 
15:18This whole rally start at 15:00 when we had a down trend starting.

 
15:17AAAARRRRGGGHHHH!!!!!

 
15:17** STOPPED OUT 773 PROFIT +2

 
15:15This may be way too high to be getting into.

 
15:15IN @ 771

 
15:14** BUY AT MARKET

 
15:13** BUY AT 765

 
15:13769

 
15:12wE ARE HITTING 768

 
15:12** BUY AT 764 ON 10 MINUTE CLOSE

 
15:11We buy on a move above it

 
15:11A close on the 10-minute chart above 764 puts us in.

 
15:10There is another triangle we are at the top of

 
15:09This one could really run to the up side, but have no good reason to play it.

 
15:09This is a breakout of a triangle to the up side.

 
15:08766 has been hit

 
15:07We have gone up to 763

 
15:07We moved up 8 points. Will we see a drop now for the next 15 minutes? I am tempted to short this one.

 
15:02Yikes! 10 point swing on 2-minute candle.

 
15:02We are at 15:00, expecting move down.

 
14:47Another downward move at 15:00

 
14:46Should have gotten that sell at 742 in earlier.

 
14:46Yupper. Ran out of strength at 14:45

 
14:45I would sell at 742 if I could ge it.

 
14:45** STOPPED OUT @ 747 PROFIT +8

 
14:44Tighten that stop to 747

 
14:42Target has dropped to 742

 
14:37Stops should be at 751

 
14:36This move down will lose strength after 14:45. That is not to say the market will go up.

 
14:3460-minute SPX chart shows side-ways movement all day. Indication of follow through of yesterday’s drop.

 
14:31745 is a target.

 
14:28** IN @ 755 SHORT

 
14:22** SELL AT 755

 
14:21Resistance at 755

 
14:18Reversal time is now 14:24

 
14:17Cannot determine direction for this reversal. However, we have a down cycle kicking in.

 
14:06Reversal at 14:20

 
13:59Oops. Hit 749 before I could post that last one.

 
13:58Support @ 750

 
13:57Wegot a sideways move instead of an UP. This means further moves down are coming.

 
13:53** STOPPED OUT @ 753 PROFIT -3


 
13:43** IN @ 756

 
13:42One more down candle on the 10min chart, and the trade is cancelled, if we are not already in.

 
13:39** BUY @ 756 (again)

 
13:39I am switching back-and-forth between 2-minute and 10-minute charts today. We have another chance at this UP move.

 
13:37We may try again.

 
13:36** STOPPED OUT @ 753 PROFIT -3

 
13:34Move should be good for 8 points.

 
13:33** IN @ 756

 
13:31** BUY @ 756 OR AT MARKET.

 
13:31We are going higher in the next 10 minutes.

 
13:28May lower our Buy price.

 
13:27Another reversal has joined the others at 13:30.

 
13:24** BUY @ 756

 
13:23Get ready to BUY

 
13:1913:30 reversal is now 13:25

 
13:13These are NOT playable signals. The 13:30 should be.

 
13:12Conficting signals in last couple of posts. I say we are moving down again now.

 
13:12Looking at the 2-minute charts too much.

 
13:11Should start moving down again at 13:10

 
13:09We are going higher in the next 4 minutes.

 
13:04Support at 756

 
13:0413:00 SPX @ 762
13:04 SPX @ 756


 
13:02Oh ya, we are moving down.

 
13:01It would be nice to see the market trend down from now till our reversal around 13:30 which happens to coincide with our predicted UP move.

 
12:59There are two down cycles at 13:00 - 13:10

 
12:57The 12:20 was an UP, not a DOWN as I had predicted. 10 point gain in 15 minutes.

 
12:50SPX down to 761

 
12:50Major reversal at 13:30, and we have a UP cycle coming into play at the same time.

 
12:48Major reversal at 13:30, and we have a UP cycle coming into play at the same time.

 
12:47We should see a move down over the next 20 minutes.
SPX is at 767

 
12:39Reversal at 12:44
The 12:20 down cycle has not kicked-in, or maybe it is not going to happen. Market is up 6 points since 12:20.


 
12:19The last reversal on the 10 minute chart went up as expected, and was a 20 point move.

 
12:19I am dealing with a few client calls, so the trading room has not gotten my full attention.

 
12:02We did get our 10 to 20 minute up move.

 
11:35The 11:30 UP cycle should helps get above resistance.

 
11:34We have resistance at 757

 
11:17On a 10 minute chart the last two reversal act as one.

 
11:16That revesal worked nicely.

 
11:16Another reversal at 11:18

 
10:56Reversal at 11:08

 
10:06Summary:
10:20 down
11:30 up
12:20 down
13:10 down
11:30 up


 
10:00Move down means the market should trend in that direction for at least 10 to 20 minutes.

 
09:59Another move down at 12:20

 
09:57Expecting a move down starting at 10:20

 
09:54Resistance at 775

 
09:41We got our move up at the open, but I expect even higher prices.

 
09:14The open is a reversal from yesterday.

 
08:56Good morning, and good trading!

 
08:56I see a move up at the open, and a move down around 13:10.

 
 
 
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