3:30pm Short post today as I'm heading out to a Holiday party tonight. I seemed to be fairly well focused and in rhythm much of the day, leaning on the short side in the overnight and morning sessions and recognizing the afternoon squeeze to the north with the 15-minute VIX in a solid supporting downtrend (see chart; click to enlarge). The result was a solid +$22K chip gain with most of the profits coming from shorting the late morning pullback to the 5-minute brick wall, and catching a few nice extension shorts on the late day squeeze.So the first week of this final leg of the 2008 marathon -- one which I of course approached with great apprehension last weekend -- ends with a respectable +$72K gain for the week with the daily scorecards of +$7K, +$15K, +$15K, +$13K, and +$22K. But you know the drill -- it means zilch on Monday when we begin digging anew and where the mindset will be reset to think this week was a major disaster.
Three and a half weeks to go, and I seem to be catching a second wind (or is it the ninth wind ... I've lost track). That's good news.
Look for the Weekend Trader updates as usual, and TradingMarkets.com visitors please be sure to watch last night's welcoming video below to put this blog in perspective. Welcome aboard!
You can also view Part 1 of the two part interview with David Penn at TradingMarkets.com.
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