Wednesday, October 28, 2009



I was down 1 unit today.

Had scenario #2 on the prep as a sell off from the 1058.00 area. There was no clear entry for me to get short.

I was not just going to sell the area. I do not like selling support zone extensions.

If I were to take that short, that would mean I should short all support zone extensions and I am generally looking to get long when I see a shallow extension.

After the market started moving down, it was stretched and offered little opportunity for me get short.

I am trying to sequence more but not at the cost of taking late sequence questionable entries. It would have worked today but I do not want to try to make a career out of it.

The long stop out late in the day was a decent trade. I gave it some room but the market continued to grind down.

There is not much else to review.

I think we will see a final move up to washout the shorts and than a continuation down on a more macro view.

I think we have seen the high for 2009. We will have to see.

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