Emini Day Trading Diary

5 min Emini Nasdaq 100

Hi,

The market has been closing up for the past 6 days and today it finally gave way.. Price gapped down in the opening and found support at the moving averages ( red moving average) It tried to cover the gap in a futile attempt and price continued to be ranging from 11:00 am till 2:00 pm... I was monitoring the market but holding my horses.... My chance came at around 2:15 pm when price broke pass the red moving average, but I was still a little skeptical about the move since we are in an uptrend environment, we have to be extra careful about going short.

However, at 2:30pm, the price action is too compelling, telling me that price is breaking downwards.. this can be observed by the huge red candlestick ... I immediately shorted 1 contract at 1890 and another 2 contracts at 1889 when there was a slight pullback.. the plunge just continued all the way down towards the close...and I just let my profits run.. I exited at the close with the white candlestick pullback at 1882 with profits of $440.

Posted by Michael Taylor at 5:49 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Nasdaq Emini 100

Hi,

Market has been ranging since yesterday.. minimum price movements with zig-zag price actions and no clear trend although there is an upward bias in the moving averages....

It is better in this case to stay out of the market... Y? jsut take a look at the so-called possible entry points that I circled in orange. Although it is very clear that price bounces whenever it touches the blue moving average,

ask youself: "Can I really justify the risk/ reward?
Am I being too greedy and wishful that the trade will go my way?
What is the probability of success for such a scenario?"

These are questions that have to come second-nature to you. You can see that Short-term MACD has very dirty movements and Mid-term MACD is hovering near zero line which is really indicative that price movements are bad.. and that it is really a ranging day.. Do the right thing, Stay on the sidelines.

Posted by Michael Taylor at 5:07 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Chart Emini Nasdaq 100

New Homes Sales data were released today and it went up compared to february but at 10:00 am, there was a dip in price but it immediately rebounded from the moving averages but I did not enter the market then...

The fundamentals will tell you that there is positive news with increased new home sales, so we are suppose to be bullish and go long. But we as day traders know better than to rely on such data... We want to go long because the long term trend is still up and we will only enter if there is a clear signal for us to do so.

At 11:45 am. price broke above the resistance line formed by the morning session, I immediately entered 1 contract at 1859. It went smooth, price went up and stalled again, providing an opportunity for me to load the boat, I longed another 2 contracts at 1860. After that, I just ride the wave, letting the profits run until 15:15 when a 2 consecutive red candles appeared and stochastics also downturned... => profits of $540

Fundamentals
New home sales rebounded a bit in March from depressed levels in February but still fell short of forecasts, according to the government's latest report, signaling ongoing weakness for the battered real estate market.

New homes sold at an annual pace of 858,000 homes in March, up from the 836,000 pace in February, which was revised lower.

The March reading was down 23 percent from March 2006 and was the second weakest sales pace in the Census Bureau report since September 2001, behind only the February reading.

Economists surveyed by Briefing.com had forecast that sales would come back to an annual rate of 890,000 in March.

Mike Larson, a real estate analyst at Weiss Research, said that he believes weather helped to inflate the sales numbers slightly in Wednesday's report.

"New home sales reportedly exploded by 50% in the Northeast region between February and March. In less weather-sensitive regions, sales were down slightly; down 2.7 percent in the South and off 0.9 percent in the West."

Posted by Michael Taylor at 5:19 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Emini Nasdaq 100

Hi,

I was expecting today to be another dull day with ranging movements.. Price gapped up around 6 points. and plunged to close the gap from the opening bell. I did not participate in shorting the gap closure... I was waiting for a rebound and a chance to go long as the long term trend is still up....

Price went beyond closing the gap.. it broke all the moving averages only to find support at my longest moving average ( the red moving average) At the same time, stochastic and Short-term MACD were showing interesting developments.... Stochastic started to upturn and MACD also upturned as price rebounded from the moving averages.

This provided the signal to enter. I entered 1 contract at 1860 and another 2 more contracts at 1862.5 when price reached yesterday's close...after that it was a matter of waiting for the trade to pan out.. I expected some resistance when price reaches today's open price..Surprisingly, it pierced through decisively with a big white candlestick... I let the profits ride until a red candle appeared and I exited at 1873 with $680 profits.

Posted by Michael Taylor at 5:23 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How's it going lately? Market's been choppy lately and trades don't seem good. Ya, trades don't come easy, but you just have to patient and wait for the chance.

The morning session was a nightmare, with price whipsawing all over... I made the right decision to stay out of such a market.. I had to wait till 1400 for my chance to enter..

This is really a classic trade, where price pulled back to the blue moving average, displayed a hammer candlestick (green oval in chart) and bounced right up... I entered 1 contract at 1859 and another 2 contracts at 1860..

At the same time, notice how stochastics upturned from oversold into the overbought region? The trade is further confirmed by Short-term MACD cutting it's signal line... However at the same time, we can tell that price still lack momentum by looking at the Mid-term MACD (green rectangle in chart) which is hovering around zero line, if the rally is strong, it will bring Mid-term MACD up with it.. This gives us some clue to not to be too greedy and exit when appropiate... I exited at 1864 when a red candlestick appeared.. Profits of $260.

Posted by Michael Taylor at 5:05 PM | Permalink | Comments (0) | TrackBacks (0)

I have finally set myself to the task of compiling a tutorial workbook with detailed trade analysis after numerous requests from my readers. Here is it, this workbok gives you step-by-step instruction on how I view different market scenarios, where to enter, where to exit, where to put the stop loss, profit target, etc.....

You will be trained to think in a discplined manner if you follow through all the exercises in the book. With 24 Case Studies and 6 tutorial style detailed examples, you will be thoroughly drilled until trading becomes second-nature. This workbook builds on the knowledge you have learnt from the previous book, elavating your trading to the next level.

Please refer to top page for more info http://www.daytradingdiary.com

----------------------
What you will learn:

Case Studies

From 24 case studies, how to time the first entry, second entry, where to place the stop loss and where to exit the position. Study these case studies in detail to make trading second-nature to you.

How to integrate the use of daily charts into your trading plan. Learn how a long-term view can be useful in helping to identify potential trouble regions such as support and resistance lines.

How to clearly identify entry and exit signals from the various indicators. Learn how to combine the various signals together that gives a more powerful and accurate signal.

How to avoid potentially lethal market that can cause you to lose alot of money. Trading has nothing to do with being brave, learn how to logically dissect market conditions and make a conscious decision not to trade.

How to expect what the trade scenario will be like tomorrow. A mentally prepared trader has a higher chance of being a profitable trader.

Tutorial Workbook

Designed to drill you on real-life trading scenarios. Some scenarios are meant to be tricky, but these are all taken from real-life scenarios.

Sample trade execution with detailed trade analysis to help you understand why the trade is made in that particular manner. Learn to work out mentally why each trade worked so that you can repeat your success.

Learn to analyze the probabilty of the trade, assessing the risk/reward and identify the signals that confirm your trading decision is correct.

Posted by Michael Taylor at 9:30 AM | Permalink | Comments (0) | TrackBacks (0)

I have finally set myself to the task of compiling a tutorial workbook with detailed trade analysis after numerous requests from my readers. Here is it, this workbok gives you step-by-step instruction on how I view different market scenarios, where to enter, where to exit, where to put the stop loss, profit target, etc.....

You will be trained to think in a discplined manner if you follow through all the exercises in the book. With 24 Case Studies and 6 tutorial style detailed examples, you will be thoroughly drilled until trading becomes second-nature. This workbook builds on the knowledge you have learnt from the previous book, elavating your trading to the next level.

Please refer to top page for more info http://www.daytradingdiary.com

----------------------
What you will learn:

Case Studies

From 24 case studies, how to time the first entry, second entry, where to place the stop loss and where to exit the position. Study these case studies in detail to make trading second-nature to you.

How to integrate the use of daily charts into your trading plan. Learn how a long-term view can be useful in helping to identify potential trouble regions such as support and resistance lines.

How to clearly identify entry and exit signals from the various indicators. Learn how to combine the various signals together that gives a more powerful and accurate signal.

How to avoid potentially lethal market that can cause you to lose alot of money. Trading has nothing to do with being brave, learn how to logically dissect market conditions and make a conscious decision not to trade.

How to expect what the trade scenario will be like tomorrow. A mentally prepared trader has a higher chance of being a profitable trader.

Tutorial Workbook

Designed to drill you on real-life trading scenarios. Some scenarios are meant to be tricky, but these are all taken from real-life scenarios.

Sample trade execution with detailed trade analysis to help you understand why the trade is made in that particular manner. Learn to work out mentally why each trade worked so that you can repeat your success.

Learn to analyze the probabilty of the trade, assessing the risk/reward and identify the signals that confirm your trading decision is correct.

Posted by Michael Taylor at 9:30 AM | Permalink | Comments (0) | TrackBacks (0)

I have finally set myself to the task of compiling a tutorial workbook with detailed trade analysis after numerous requests from my readers. Here is it, this workbok gives you step-by-step instruction on how I view different market scenarios, where to enter, where to exit, where to put the stop loss, profit target, etc.....

You will be trained to think in a discplined manner if you follow through all the exercises in the book. With 24 Case Studies and 6 tutorial style detailed examples, you will be thoroughly drilled until trading becomes second-nature. This workbook builds on the knowledge you have learnt from the previous book, elavating your trading to the next level.

Please refer to top page for more info http://www.daytradingdiary.com

----------------------
What you will learn:

Case Studies

From 24 case studies, how to time the first entry, second entry, where to place the stop loss and where to exit the position. Study these case studies in detail to make trading second-nature to you.

How to integrate the use of daily charts into your trading plan. Learn how a long-term view can be useful in helping to identify potential trouble regions such as support and resistance lines.

How to clearly identify entry and exit signals from the various indicators. Learn how to combine the various signals together that gives a more powerful and accurate signal.

How to avoid potentially lethal market that can cause you to lose alot of money. Trading has nothing to do with being brave, learn how to logically dissect market conditions and make a conscious decision not to trade.

How to expect what the trade scenario will be like tomorrow. A mentally prepared trader has a higher chance of being a profitable trader.

Tutorial Workbook

Designed to drill you on real-life trading scenarios. Some scenarios are meant to be tricky, but these are all taken from real-life scenarios.

Sample trade execution with detailed trade analysis to help you understand why the trade is made in that particular manner. Learn to work out mentally why each trade worked so that you can repeat your success.

Learn to analyze the probabilty of the trade, assessing the risk/reward and identify the signals that confirm your trading decision is correct.

Posted by Michael Taylor at 9:30 AM | Permalink | Comments (0) | TrackBacks (0)

I have finally set myself to the task of compiling a tutorial workbook with detailed trade analysis after numerous requests from my readers. Here is it, this workbok gives you step-by-step instruction on how I view different market scenarios, where to enter, where to exit, where to put the stop loss, profit target, etc.....

You will be trained to think in a discplined manner if you follow through all the exercises in the book. With 24 Case Studies and 6 tutorial style detailed examples, you will be thoroughly drilled until trading becomes second-nature. This workbook builds on the knowledge you have learnt from the previous book, elavating your trading to the next level.

Please refer to top page for more info http://www.daytradingdiary.com

----------------------
What you will learn:

Case Studies

From 24 case studies, how to time the first entry, second entry, where to place the stop loss and where to exit the position. Study these case studies in detail to make trading second-nature to you.

How to integrate the use of daily charts into your trading plan. Learn how a long-term view can be useful in helping to identify potential trouble regions such as support and resistance lines.

How to clearly identify entry and exit signals from the various indicators. Learn how to combine the various signals together that gives a more powerful and accurate signal.

How to avoid potentially lethal market that can cause you to lose alot of money. Trading has nothing to do with being brave, learn how to logically dissect market conditions and make a conscious decision not to trade.

How to expect what the trade scenario will be like tomorrow. A mentally prepared trader has a higher chance of being a profitable trader.

Tutorial Workbook

Designed to drill you on real-life trading scenarios. Some scenarios are meant to be tricky, but these are all taken from real-life scenarios.

Sample trade execution with detailed trade analysis to help you understand why the trade is made in that particular manner. Learn to work out mentally why each trade worked so that you can repeat your success.

Learn to analyze the probabilty of the trade, assessing the risk/reward and identify the signals that confirm your trading decision is correct.

Posted by Michael Taylor at 9:30 AM | Permalink | Comments (0) | TrackBacks (0)

I have finally set myself to the task of compiling a tutorial workbook with detailed trade analysis after numerous requests from my readers. Here is it, this workbok gives you step-by-step instruction on how I view different market scenarios, where to enter, where to exit, where to put the stop loss, profit target, etc.....

You will be trained to think in a discplined manner if you follow through all the exercises in the book. With 24 Case Studies and 6 tutorial style detailed examples, you will be thoroughly drilled until trading becomes second-nature. This workbook builds on the knowledge you have learnt from the previous book, elavating your trading to the next level.

Please refer to top page for more info http://www.daytradeemini.com

----------------------
What you will learn:

Case Studies

From 24 case studies, how to time the first entry, second entry, where to place the stop loss and where to exit the position. Study these case studies in detail to make trading second-nature to you.

How to integrate the use of daily charts into your trading plan. Learn how a long-term view can be useful in helping to identify potential trouble regions such as support and resistance lines.

How to clearly identify entry and exit signals from the various indicators. Learn how to combine the various signals together that gives a more powerful and accurate signal.

How to avoid potentially lethal market that can cause you to lose alot of money. Trading has nothing to do with being brave, learn how to logically dissect market conditions and make a conscious decision not to trade.

How to expect what the trade scenario will be like tomorrow. A mentally prepared trader has a higher chance of being a profitable trader.

Tutorial Workbook

Designed to drill you on real-life trading scenarios. Some scenarios are meant to be tricky, but these are all taken from real-life scenarios.

Sample trade execution with detailed trade analysis to help you understand why the trade is made in that particular manner. Learn to work out mentally why each trade worked so that you can repeat your success.

Learn to analyze the probabilty of the trade, assessing the risk/reward and identify the signals that confirm your trading decision is correct.

Posted by Michael Taylor at 9:30 AM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Market opened with a 14 point gap and for the first 5 minutes, it seemed to be going up, making it a runaway gap.. but it lost it's momentum and began the plunge down. Now, the question is, whether price will continue to close the gap or is theh upward momentum still strong, we have to extra careful here about shorting..

I shorted 1 contract at 1865 only when it was clear that stochastic have cut the overbought region, Short-term MACD also turned down sharply.... I shorted another 2 contracts at 1862 when there was a slight pullback.

After that, it was just a matter of being patient and letting the trade work out, notice how Mid-term MACD crossed it's signal line as the trade progress? This is a sign of confirmation that we are in the right direction.

However, at around 12:00, I began to see signs of reversal and at 12:10, there was a huge spike upwards, causing stochastic to cut up from the oversold region.. I exited my position at 1857 with $360 profits...

Posted by Michael Taylor at 2:28 AM | Permalink | Comments (0) | TrackBacks (0)

5 mins Nasdaq Emini 100

Hi,

Market gapped down this morning, what's the reason for this gap down? Well, apparently the Chinese economy expanded faster than expected and Chinese government again expressed concern about over-heating and indicated intentions to raise interest rates... This sent the Asian bourses down... It's not surprising the the Nasdaq, S&P 500, Dow should open lower...

Think about it again, the influence pending interest rate hike in China is little, if any on the US economy on a short term basis and yet we opened with an almost 10 point gap down. This enables us to view it purely technically, there isn't a key fundamental change in the US economy...

I longed 1 contract at 1836.5 after price began to start it's crawl upwards and Stochastic turned up.. It showed signs of further closign the gap and I longed another 2 contracts at 1838. The ride wasn't smooth, there were huge pull backs along the way, but I stuck onto my position because neither Stochastic nor MACD gave an exit signal... My profit target is simple, 1845.5 which is slightly below yesterday's close..

At 10:25, my profit target was hit and I am automatically out with $480 profits.

Posted by Michael Taylor at 5:19 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How's it going lately? Ya, I know, the market's been choppy. Be patient, the big wave will come sooner or later.

Market opened today with a gap down of almost 8 points and it took almost the whole day to close the gap. Today's play is purely technical.

Price went beyond closing the gap and hit a resistance line which is yesterday's high. It was immediately followed by a rebound to the downside. This was accompanied by a downturn of stochastic from oversold region. Short-term MACD also downturned.... I shorted 1 contract at 1851.5 and another 2 contracts at 1850.5..

My exit was at 1846 when price hit the moving averages and bounced up a little. The exit signal was also indicated by stochastic and MACD turning up.. Profits = $290.

Posted by Michael Taylor at 5:19 PM | Permalink | Comments (0) | TrackBacks (0)

5 minute Nasdaq Emini 100

Hi,

How's the trading going? Today's a choppy day. How do I know? After watching the price action everyday for the past few years, you can tell when price is not moving right. My advice? Beginners stay out of this kind of market and conserve your capital. No Ego trading please.

For this trade, I had to wait till price pulled back to the moving averages at around 13:00 pm and on the bounce off from the blue moving average, I longed 1 contract at 1844.. I longed another 2 contracts at 1847 when it crossed the other moving averages.. Notice how Short- term MACD crossed it's signal line after I entered?

I exited at 1850 when price exhibited some resistance. Note that this is also the opening price, it's natural for price to show resistance here. Profits = $240.

Fundamentals:
The March core CPI was up just 0.1%. A gain of 0.2% was expected. This brought the year-over-year increase down slightly to 2.5% from 2.6%. The total CPI was up 0.6% as energy prices jumped 5.9%. Housing starts posted a small 0.8% gain in March, but any gain is good for that sector. Starts have been trending flat for five months now. That is a substantial improvement from the steady declines of mid-2006. For housing, flat is good right now.

Posted by Michael Taylor at 5:23 PM | Permalink | Comments (0) | TrackBacks (0)

Emini Nasdaq 100 5 min chart

Hi,

Market gapped up almost 6 points today and the gap just didn't close... price went up and up.. In hindsight, you might be tempted to say, just go long.. that's easy to say, but if you look at he charts,
the price action is choppy and Short-term MACD movements are choppy in a zig-zag manner.. There just wasn't enough signal for me to enter the market.. and I dare say, this is one of the deadliest markets that gets alot of traders killed....

You might be tempted to say that Stochastic has given alot of signals, but this is not accompanied by MACD, the moving averages or price action.. If you look carefully, apart from the gap up of 6 points, price only moved aournd 12 points for the whole day.. I would consider this a ranging day... most of the price movement is taken up by the gap...

Stay out of such a market and save your trading capital for another day!

Posted by Michael Taylor at 5:02 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasaq 100

Hi,

The March Core PPI index was released at 8:30 am and apparently, it was lower than expected.. This is good news? But according to Briefing.com (below), this is not really enough of a good news for us to believe that infaltion is in control and that the FED is going to cut rates anytime soon. Price plugned from the opening bell and stochastic, short term MACD made a strong downturn... I shorted 1 contract at 1826 an another 2 contracts at 1825 when there was a slight pullback..

After that, it was simply a case of waiting... price plunged through the moving averages ... But at the same time, it was getting more volatile, this can be observed through the increasing length of the shadows of the candlesticks... I exited at 1816.5 when a doji candlestick appeared at 1816.5 with profits of $530... Notice that after I exited, stochastics and MACD turned up (orange circles).

From Briefing.com"
The March core PPI was unchanged. A 0.2% gain had been expected. This good news is not enough to greatly alter the inflation outlook. It follows a 0.2% increase in January and a 0.4% gain in February. The soft March number may prove temporary as an offset to the strong February number. The 2.3% annual rate of increase in the first quarter is also above the year-over-year level of 1.7%. This one month number will not ease inflation concerns at the Fed.

The food component deserves mention. It was up 1.4% for the fourth straight month of an increase above 1%. Food prices are often ignored because they are volatile on a monthly basis and haven't trended higher for a long time. However, if food prices start rising steadily in line with other commodities, they merit attention. People have to pay for food as well as "core" items.

The stock market continues to hang tough despite worsening fundamentals.

A survey by The Wall Street Journal yesterday showed that over the past month Wall Street forecasts for GDP have been lowered including a cut to just a 2% rate for the first quarter; inflation forecasts have been raised; interest rate forecasts have been raised to take into account a lower probability of the Fed easing; and home price forecasts have been lowered to -1.3% for 2007. The average forecast for oil prices for 2007 went up, and the probability of a recession was raised to 26%.

Expectations for every key fundamental factor have moved in a bearish direction. This has occurred over the past month even while the stock market has recovered. April has been the best month for the stock market over the past 50 years, and perhaps seasonal trends are giving a boost now. Over time, however, the difficult fundamental outlook limits the up-side potential.

Posted by Michael Taylor at 5:33 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Market gapped down at open today... I did not participate in this... but the downward plunge was soon over and this was followed by a strong upturn confirmed by my stochastics which provided the initial signal.

I longed 1 contract at 1808 and another 2 contracts at 1811.. Notice that Short-term MACD turned up and cut the signal line shortly after I entered? The uptrend was further confirmed by the Mid-term MACD which also cut the signal line.

The upward ride was smooth and price broke above all my moving averages, I was getting abit uneasy now. Stochastics and MACD were showing signs of a turning. I finally let go at 1820 ( I did not manage to exit at the high of 1824) when price action weakend.. Notice how shortly after I exited stochastics downturned and MACD downturned to cut its signal line? Profits of $600.

Posted by Michael Taylor at 5:32 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Nasdaq Emini 100

Hi,

Today was a really pullback in many days... the market can't go up indefinitely.. and as day traders... I hope you are there to capture and capitalize and fatten your own pockets with this opportunity...

A total of three trades are done today... you can see from the different colors I used in the chart above..

1st trade
When price opened, it already began it's plunge... it was omnimous of a fall... I shorted 1 contract at 1829 and exited at 1824, primarily because price found support at one of my long term moving averages... market direction was sure and I couldn't be sure that it will not rebound... I exited with $100 profits.

2nd trade
However, price actually broke through the moving average in a big way... notice the huge red candle? I shorted another 1 contract at 1823... this time, i knew there is enough momentum to carry it down for at least another 5 to 10 points....
when price paused at 1820, I shorted another 2 contracts.... and finally exited at 1814 when momemtum started to show signs of exhaustion... profits = $420

3rd trade
The 3rd trade is a classic and I hope you managed to get this right, 'cos this is really beginner's stuff... price pulled back all the way to hit the moving averages and started to rebound down.... stochastics also turned downwards from overbought region. MACD was also trying to cut the zero line.. I shorted 1 contract at 1822 and another 2 contracts at 1818... my exit? simple, when price hit the low of 1813 established at the morning session, it's pretty obvious that this is a support area... so I decided not to get too greedy and exited at 1815. profits = $260.

Total profits = $780

Posted by Michael Taylor at 5:18 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Nasdaq Emini 100

Hi,

Market today was sure quiet before a slew of earnings reports... I wasn't too keen to enter the market and half expected it to be inactive like yesterday...

However, at 1:25 pm, price started to form a double bottom formation, with price breaking through the moving averages and stochastics turning up from the oversold region,,, This is reason enough for me to go long... I longed 1 contract at 1826 and another 2 contracts at 1828 when price pulled back, my stop loss was simply below the blue moving average at 1825. Yes, this is a pretty tight stop loss and I was determined to get out fast if things don't go the way I expect it to be..

Patience paid off and price jerked up slowly above the high established by the morning session.... I got out at 1832 with profits of $280.

Posted by Michael Taylor at 5:23 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Nasdaq Emini 100

Hi,

How's it going lately? This is my first trade after one week of rest... hopefully things don't go rusty...

Price gapped up around 6 points today... and it began to close the gap as soon as the opening bell... I did not participate in this gap closing trade... Instead, I waited for the gap to close and pull back all the way to near the moving averages...

This is a higher probability trade, notice that all the moving averages are slanting upwards indicating an upward trend instead of a downward trend... this gives us the GO SIGN to long instead of short...

As soon as it pulls back to the moving averages, it bounced, I longed 1 contract at 1823 and another 2 contracts at 1824 at the pullback on the way up... notice that stochastics turned up from oversold region? this is a classic rebound...

I exited at 1828.75 when price showed some resistance when it reached yesterday's closing price... Profits of $305.... not much, but i kind of guessed it's going to be a quiet day today..

Posted by Michael Taylor at 5:03 PM | Permalink | Comments (0) | TrackBacks (0)

Hi

Daily Nasdaq 100

Many people have been asking me what happen to me as there was no update of any activity on my blog.. I was taking a holiday to London to visit some old friends... afterall it's Easter :p

The good thing about being a day trader is that you are your own boss and can take as long a holiday as you want... well, judging from the charts, I have not missed out much.. although there was some rallying for the past few days...

From the looks of the MACD, rallying might continue for the next week...although price hit the March highs and experienced some resistance there... We just have to wait and see... cautiously optimistic is the word to use..

Posted by Michael Taylor at 9:03 AM | Permalink | Comments (0) | TrackBacks (0)