11:13am Not much cooking in the U.S. session as ES has been rangebound after the GDP-induced gap. I suspect volume will die a slow death over the next few days heading into the long weekend, but then again the market often does what's least expected.
The majority of my trading was on the 8:30am pop, and while I bungled the 1st ES pullback immediately after the pop (entering and then stupidly scratching for a deeper retracement), I was able to nail some DAX overextensions, and most of today's early $6K chip gain has been via the DAX.
1:30pm Pretty much one strong thrust -- after a nasty shake-out -- since last post and then volume again died. Doing some teeny ES scalping, but just for yuks and to keep my head in the game more than anything.
2:04pm Possible topping action on 3LB turn and preceding TICK vs. price divergence.
2:13pm Buyers still in control ... 15 min trend a horse so far and range fluctuations only ... and I'm clearly not a good range trader. Scratched short attempt on small size for small loss, and that might signal the end of the day for me. Tough to buy with high % at these levels, but they can of course run it.
In day gain preservation mode now. Banking the $7K increase unless Aces come up.
3:02pm No trades since last post. Any trades from here for anything but Aces and I'll need to have my head examined. No volume at all.
4:43pm Oops, forgot to hit "Post". Last day of month tomorrow ... will play it cautiously.
Thursday, August 28, 2008
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