11:37am OK, backing away from the keyboard after an OK morning as the market pauses. One of the benefits of this blog was supposed to be keeping me out of trouble when the market stopped moving, so it's time to type. Thus far, my reads carrying over from yesterday have been strong, and I'd give myself an A for reads and entry, and a B for holding time. I didn't hold the post-10:30am ES short as long as I would have liked, but I'm ok with the result. The decrease in volatility and resulting change in pace is admittedly taking a bit of getting used to. Got a few nuggets trading the DAX in the wee hours as well with a similar sequence -> shorting into the first climb. Gotta love the morning after the prior-day trend!
I'd love to see a strong breakdown from this midday consolidation to buy any overreaction to the downside (strong 15-min trend support), but it would have to be near 1275 as the new prime objective for the rest of the day is to protect the $18K in morning profits. Don't screw up the rest of the day Don!
12:20pm Geesh, if I knew that I had to do was ask. Nice drop to 1278 where I picked up a nice long scalp sequence. Not being overly aggressive down here given the extent of the recent run, but expecting support for the moment. Flat on the scalp but will buy one more push down if we get it.
12:24pm Love that 15-min chart!! Bought the last push down and taking it out on the climb. Preparing for major gain preservation mode shortly. Outstanding market pace and I'm dancing with it cheek-to-cheek. Expecting the oscillations to begin narrowing. This could be it for the meat. Watching now. 1 min 3 Line Break still south into the larger timeframe supports, but that's often a trailing indicator on the day after trend.
12:33pm Took 1 pt stop on small 15 lot. First stop of day. Careful Don. VIX climbing.
12:40pm OK, support held and made up for initial stop on re-entry. That may be it for the day. $25K in profits and don't want to get sloppy.
As I've said in the past, I'll always share the good, the bad, and the ugly. Today was a good day.