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Previous Intraday Trading Session: [ 5/21/2013 ]

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TIMEALERTS 
14:17Trade #5 -- Stopped out 1672 [-2]

 
13:30Trade #5 -- Sell 1670 -- Stop 1672

 
13:29This is another short opportunity, but getting stopped out on the first two has shaken my confidence for the day. But there is one thing different here: 10 and 15 minute charts want to go down also.

 
13:19Trade #4 -- Stopped out 1669.50 [-2]

 
12:42Trade #4 Sell 1667.50

 
12:41Trade #4 Sell 1667.50

 
12:41Did I pick a stop that turns out to be the exact top?

 
12:30Trade #3 -- Stopped out at 1669 [-3]

 
11:44Trade #3 -- Sell 1666 -- Stop 1669

 
11:43Maybe it will be 1666.


 
11:35Now we watch for a reversal around 1668.

 
11:17See chart. Last two trades were based on candle reversal and the market touching the top of a megaphone pattern. The market went down to the bottom of the megaphone where it found some support. It should breakout to the downside soon.

 
11:05There is a 90% chance the market will close in the red today.

 
11:04If you want to scalp a point or two, buy here. Should move up to 1666 before it starts down again.


 
11:03TRADE #2 -- Sluggers OUT AT 1663 [+5]

 
10:28Sluggers should lower stops to 1663

 
10:26Sluggers should lower stops to 1663.5

 
10:22Sluggers should lower stops to 1666.5

 
10:21Trade #2 -- Scalpers out at 1666 [+2]

 
10:00Trade #2 -- Sell 1668

 
09:55Trade #1 -- Stopped out at 1670 [-2]

 
09:33Trade #1 -- Sell 1668

 
09:2810 and 15 minute candles are suggesting a top is forming.

 
09:20Good mornings!

 
 
 
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