June 25 2010 ES Prep Posted

**Levels in commentary on prep are mis-typed. They have been corrected below.
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Premise for today is to see if 1066.75 holds. Price has moved off 1129.50 and is making an attempt to retest 1048.75 and 1034.50. Price has pulled back about half way and may get a bounce up off this area. There is some overnight support at 1075.50. This area is the line in the sand for longs above and shorts below (after failure). I expect this to be extended and have illustrated it as an area to work off off. I will be looking for tight congestion just below this area and a break up and through. The next level above is 1084.50. If 1075.50 holds, I will look to get short for an attack of 1066.75 and extension down. Move off 1066.75 looks strong but a good downward scenario would be an extension and fail of 1075.50 follow by contraction between 1075.50 and 1066.75 with a breakout down. I will watch for this.

June 24 2010 ES Prep Posted

Premise for today is to see if the price continues to trend down or if it make a bounce to the upside. Price is currently trying to break and extend 1084.50. I will watch for a pull back and to 1084.50 or 1090.50 in the early AM and look for a continuation down. If price moves back above 1084.50 and hold, look for test of 1101.75. If price does not retest 1084.50 and moves straight down to 1070.50 pre market, look for move to test 1084.50 just after the open and potential range 1084.50 - 1070.50. There is room for a major move down but price is a little stretched and going to be prone to short squeezes as it moves down. Shorts need to be made at the initiation point of the leg down and not chased.

June 23 2010 Overlay

Data and connection issues today. Not much to review.

June 23 2010 ES Prep Posted

Price is drifting in between 1101.75 - 1084.50. There is not much happening here. Premise for this morning will be to see if price retests 1101.75 or moves down to 1084.50. I will be looking for an initial contraction and watch the break for direction. There will likely be one good move prior to the pre Fed contraction. I will focus on hitting trades at the zones directly above and below the current price unless I get a significant directional setup with pattern confirmation mid range. The zones are always in effect but visualization will need to be re-calibrated after the Fed announcement.

June 22 2010 Overlay and Trades

I had a fight with my bias during the prep this morning. I felt the selling coming in but did not want to believe in an extended and continued move down on the day prior to a Fed announcement.

The positive thing about today is that I would not let myself stand aside. It was not a clean move down and I forced myself to get in and engage. I felt like I was doing something wrong by not being short and that is a good sign.

I have been extremely sharp about knowing my areas and gut lately. The slightly positive outcome is a result of poor management but that is coming around a bit.

I have to admit I hesitated on what I knew was a good trade off an upper trend line at 1113.50 today.

I could feel it but kept flipping back and forth between my high and low time frame execution charts to find an excuse to sell shallow of the 1116.50 resistance area. Then the price moved off 1113.50 as I decided to hit it. That is usually how hesitation works.

I hit the blind short at 1110.00 and immediately took heat. Price pushed 2 points past where I though it would. Then the market went to sleep trading in a 2 point range for one hour. Very rare.

For the first time I can recall, the action actually looked unsymmetrical for a while and it shook me out of the trade followed by a timid re entry and small loss cut trade out of frustration.

I saw the congestion and fake low inside support at 1105.00 but did not believe it would hold at all. This is a good sign. I am getting stubborn at the right areas.

The management was poor and I knew it as it happened. I am close to beginning to eliminate this. It will never be completely fixed however.

I know what my operation is about right now and that is helping. The operation is to reconcile the read and feel with the timing and management.

It is also notable that the last long was a trade made with extreme aggression. I need to see more of this.

I went from being irritated and disappointed today to slightly positive about my trading and that may well lead to trouble tomorrow.

If I draw tomorrow I will fight back.

June 22 2010 ES Prep Posted

Premise for today is to watch the 1101.75 area and see if it holds. This is a key area and a line in the sand. Price is looking weak as it approaches this area. It would be a good support for a short squeeze. I will watch this just after the open. If it holds, look for a test of 1116.50 and a sideways market 1116.50 - 1101.75 ahead of the Fed announcement tomorrow. Scenario #2 is that 1101.75 breaks just after the open and price starts to sell. If this happens, watch for test of 1184.50 and potentially a deeper correction. An extended move down today would be a lower probability event but structure is set up for that to happen if price clears 1101.75.

June 21 2010 Overlay and Trades

I started the week with a scratch today.

You can see in my prep that I had a massive long bias. I should have read into my own commentary and shallow inside support more.

I rarely draw inside support that shallow and there is a good reason for it. The only way I could visualize what I premised would be a likely continuation to 1142.00 was if the shallow 1125.25 area held.

Thus, any break of this area should lead to a move to test at least 1116.50 and it did. I know I said that in my commentary but with the early grind and limited conviction I was only looking for long opportunities.

It is notable that I had another short magenta execution box that I did not execute that ended being a good trade.

I am working hard to hit these. I would have never even considered some of these shorts I have been identifying pre market prior to using the drawn execution boxes.

They are opening my mind up to good setups I stayed away from previously but I have to push the button and make a bet.

June 21 2010 ES Prep Posted

Premise for today will be to see where price pulls back to in attempt to build inside support for a continued move to 1142.00. I have illustrated very shallow inside support at 1125.25. This is indicative of a very strong move if it holds. If the 1125.25 area breaks prior to the open, look for a move back down to 1116.50. If 1116.50 does not hold, trading will be very tough in that area. Price is currently trending up so I will go will the flow until proven otherwise.

June 18 2010 Prep Overlay

I had a decent read this morning and the execution boxes were well placed.

I could not reconcile the action between the 4000 tick prep and 1000 tick execution chart and mostly stood aside.

There was not much action this week for me to speak of and I ended the week in slightly positive territory.

It continue to execute the more complex sequences and avoid the most basic areas. Today, a bet needed to be made as the price approached the 1109.00 inside support area.

I was focusing too much on the "what if" scenario and wanting to see more evidence that 1109.00 was going to hold. There was too much thinking about what the outcome would be if the price started selling through 1109.00.

My issue lately is not being concerned about my trades working and being directionally correct. It is whether I will be able to stay with the trade as it pushes against me or retests my entry point after an excursion.

This is causing me to try to get too precise of an entry. I can not expect to make a career out of perfectly timing my trades. It will not happen regardless of how skilled I become.

My attempt to hit the precise moment and price I want is actually leading to bad timing.

This is not an exact game and never will be. It is best to just hit the simple areas and get executions painted in my blue and magenta boxes.

I am working on figuring out how to overlay the 1000 tick execution chart onto the higher time frame prep.

I think this will go a long way into demonstrating how I truly visualize the market and may help to reconcile the divergence between my reads and execution.

June 18 2010 ES Prep posted

Quadruple witching today. Premise for to is to find good entries of key areas as setups are not likely to be clean. Price is contracted early AM. I will look for congestion at 1109.00 potential inside support and attempt to initiate a long if it starts to hold. If it holds, look for test of 1119.75. If 1119.75 holds, look for sideways congestion and likely contraction 1109.00 - 1119.75. If price breaks 1109.00 it will get interesting. Look for test and likely extension attempt of 1101.75. It would be rare for a sell off on an expiration day but price has failed to move up off this area all week. If price extends 1119.75, look for a complete grind up. Price will be prone to congest, contract, then run stops today. There should be one decent AM move followed late morning contraction. If games are being played and market depth is packed I will stand aside today.

June 17 2010 Overlay and Trades

Charts only tonight.

June 17 2010 ES Prep Posted

Premise for today is to watch for a pull back to potential inside support at 1111.50 and a continued move to the upside. If price holds at 1111.50, look for a test of 1119.75 minor support and extension up. If price continues to trend it will will likely be a slow grind up above 1119.75. Overall short term upside target is 1142.00 but the market has a lot more room to the upside after that. If 1119.75 holds, look for a retest of 1101.75 and likely extension down and tough trading in that area below. Tomorrow is a quadruple witching day and the market will be prone to contractions and sudden thrusts of stop runs as positions are being moved around.

June 16 2010 Overlay and Trades

I did not have any trades Monday and Tuesday. This is a result of tightening up my setup criteria too much which always leads to missed opportunity.

I am going back into brief commentary mode for a while. I think the executions and overlay are the most helpful aspects of the blog.

I have to note that I absolutely had the action laid out in advance in the prep commentary. I am not bringing this up tin order to give myself credit. It is actually the opposite.

It is ridiculous that I hit the premise almost exactly day in and day out but do not capitalize on it like I should.

I had a tough break even today after holding an excellent long for too long. I projected a HI-LO washout and contraction. That is what we got but I held for a lower probability trend up.

I still think the price will trend up to at least 1140.00 but the probability today was for a congestion. That is what happened.

I also skipped my first key entry. It is not complicated. I just have to push a button when the black bar enters the blue box.

Experience in trading is watching this stuff work over and over again until you are fed up with yourself and just start trusting your judgment.

June 16 2010 ES Prep Posted

Premise for today is to see if 1101.75 minor support holds or if price pulls back inside. Bias is up. Price has broken out of the large range that was establishing. Premise now is for move up to 1142.00 area and potentially beyond. If 1101.75 holds, look for potential congestion range 1101.75 - 1111.75 with upward bias until breakout. Price will likely wash out both these levels and move back inside. If price moves back below 1101.75 action will get tricky as price will look to establish new support to continue the move up. If there is no resistance at 1111.75, look for test of 1119.75 and potential range 1119.75 - 1101.75.

June 15 2010 ES Prep Posted

Premise for today is to see if 1084.50 inside support holds. If it holds, look for test of 1101.75 high and sideways market 1084.50 - 1101.75 with an upward bias. Keep in mind that we are at the top of the overall range 1037.00 - 1101.75 and due for more of a correction downward. This is a key area. If price extends 1084.50 this early AM look for a test of 1075.50 and 1067.75. 1084.50 is not major support so do not make a stand there. If it breaks, follow the move down and look for inside support at better prices. I am anticipating the price making an attempt to extend 1101.75. If it fails again, look for a deeper correction. This is a quadruple witching week which tends to be a bullish week with one good correction down.

June 14 2010 Prep Overaly

I did not have any trades today. There was only one good setup for me and it was the unconfirmed short off 1102.50 marked by the magenta box.

1102.50 is the September price for the 1106.00 resistance area and top the range we have been watching for days.

My plan is to hit my price regardless of structure at major zones. I obviously broke my rules today and missed a good setup.

My prep had the move visualized well off 1102.75 but the did not pull back to test 1084.50 as I had premised for.

I am having a conflict between hitting my zones unconfirmed and waiting for some type of retest.

A retest and fail should provide more confirmation that the price is reversing and has structure so you can define risk.

However, the fact that the price is bouncing and attacking again means that opposing structure could be building for a zone extension.

Fading the move into the first touch of a zone (providing liquidity) is more prone to get run over and has no structure to use in order to measure risk.

Also, if the trade produces an excursion, it is prone to a retest which opens up the door for trade management errors.

I have decided to press forward with hitting my price regardless of confirmation. It is a bet on my analysis.

June 14 2010 ES Prep Posted

Premise for today is to look for test of 1102.50 and top of overall large range off the 1037.00 low. I will look for an early AM pull back to potential inside support at 1084.50 and run up to 1102.50. Could see a range 1102.50 - 1084.50. if 1084.50 does not hold look for attempt to move down and test 1068.00. There are multiple areas of minor support that i have not marked between 1184.50 and 1168.00. These are not well established and I will not trade off them without further structure. The short side will be tough in that area. I have illustrated my execution areas.

June 11 2010 ES Prep Posted

***Prep zone prices are for June contract. Subtract 4.5 points to get Sept prices***

Powerful move up continues. Premise is to look for test of 1106.00 and range cycle completion. Shorts got totally rejected yesterday at inside support and price is getting drawn to 1106.00. I will look for inside support to wash and hold at 1081.00 and an test of 1091.00 with likely extension. if there is no hold at 1081.00, look for test of 1072.00 and potential range 1072.00 - 1091.00. If 1072.00 break, could see a run all the way down to 1053.00. The short side will be tough today. I will look to hit longs until prove otherwise. I have illustrated my execution areas.

June 10 2010 ES Prep Posted

Price is contracted this morning after yesterday's move. Direction is conflicted here. Price is trying to decide if it will test the 1041.50 lows and try to extend or make a move back up to the local overall top of the range at 1106.00. Premise for today is to let some structure build as we are mid range. Trading could be tough. I will look for signs of a descending triangle and play off 1053.00 support and the upper trend line. If price moves up off the 1064.00 area (not marked) I will for a test of 1077.00 or a significant higher low to play. I have illustrated my execution areas.

June 9 2010 Overlay and Trades

I hit all of my execution boxes today and it paid off even though there were a couple tough unconfirmed fades that did not work out.

The grey visualization arrows were almost an exact match to the price action that unfolded.

It is interesting that my visualization called for inside support at 1063.50 which was a blind inside support zone identified in advance followed by an extension of 1069.50, however, my execution boxes had me covering and fading 1069.50.

My strategy has become 4 dimensional and I am working to specifically define it. I feel it but can not exactly put it into words yet. I am not sure if I want to. Over thinking what I am doing will cause problems.

The methodology I practice is always correct in the end but entering and exiting with the appropriate timing is an art form that requires extreme skill. For me, it requires a specific plan that allows for both consistency and discretion.

Balancing discretion and pattern consistency is like riding a unicycle on a beach ball.

The fade at 1069.50 is opposite my visualization and opposite what the price "looked" like it would do.

However, 1069.50 was a major line in the sand and extending a zone is a lower probability outcome. It becomes much more likely with inside support but a trader must pick a play.

I chose to fade which was a reversal execution at a confirmed extreme. The stop out was not costly but cutting the long was. Was it the cost of doing business?

It turns out I was right in premise. The price did extend 1069.50 but that move up was nothing but a giant slow pace washout of 1069.50 prior to the reversal.

I was able to reconcile everything by hitting the short sequence late in the day.

I have to have confidence in the fact that my execution boxes called for the best trades based off my ideas on how the price flows and lead to a plan that was able to be projected and executed today.

I must continue executing with aggression.

June 9 2010 ES Prep Posted

Premise for today is to see if price can extend 1069.50. We have already put in inside support overnight and had a powerful reaction off it overnight. I am looking for a test of 1069.50 likely prior to the open and a pull back. I will watch the 1063.50 area for pattern confirmation of an initiation of an extension attempt. If price moves back down to 1053.50 inside support, look for potential range 1053.50 - 1069.50. If 1053.50 does not hold, look for retest of 1041.50. The line in the sand is 1069.50. If this breaks, there will be an attempt to move back up to 1106.00. If it hold, price will attack 1041.50 and likely extend down. I have illustrated my execution areas. Short side will be tough today but worth hitting if 1069.50 starts to hold. Bias for this AM is up.

June 8 2010 Overlay and Trades

I can not even describe what exactly is going on with my trading the past few days. I seem to want to get in a 5 - 10 point hole every morning and then fight out of it for a small victory.

I will let the execution chart be the commentary tonight.

I suppose it is a positive step that I get get down what used to be a catastrophic per contract amount and fight back repeatedly. The upside is there once I calm the hell down after the early AM sessions.

I let the first two trades get away from me this morning but do not regret it. What would tighter stops have saved? It amounts to virtually no difference.

You have to have a true significant edge when trading one size/one entry/one exit. That is what I am fighting for. No outliers, no laying into positions, just a raw and consistent edge.

The only other notable occurrence today was the fact that I removed the 1041.50 support from the prep this morning. It has been there for days.

Sometimes I sit and visualize certain zones for up to 20 minutes before adding or removing a line. It is an art form. This morning I decided to remove it is use the low of 1038.50 (still not the very low of the data set I was looking at).

I always regret removing zones and should stop. It had a major impact on where I attacked today. 1041.50 and 1038.50 we just too close on the 4000 tick.

The prep is almost always accurate. I am close to executing a close overlay of my prep. This will produce significant performance but I have to be aggressive and open up risk.

June 8 2010 ES Prep Posted

Premise for today is to see if 1047.75 holds or if the price is going to continue down. if 1047.75 holds, look for test of 1061.25 potential inside support and sideways market 1061.25 - 1047.75 until breakout. The price is going to tend to want to probe 1038.50 but there has been a significant retest and fail at 1047.75 in the short term. If price extends down to 1038.50, there will be a higher probability of more significant retracement up. If price goes range bound and tests 1061.25 prior to a move down to test 1038.50, the probability of an extension and continued move down will be h

June 7 2010 Overlay and Trades

I was short off the highs 3 times today.

Feel was good. I need to work on holding my zone trades. I scalped the first entry for 2 points which left a lot on the table then went fishing for a long in attempt to play a potential ascending triangle which was a mistake.

Intensity and aggression was good but I need to start holding my trades for bigger wins.

I went through a phase earlier this year where I was having many 3 and 4 point excursions going back to BE.

My strategy has changed and I am now leaving too much on the table. You can see the rule violation BE this morning. I forced a re entry at a worse price and took a profit on the second trade.

The short into lows was allowed within the plan but the price was extended. I saw something down there that made me confident in a sell off today and went for it.

I did not believe the grinding move up and had no interest in getting long. It was nothing but a grinding low volume washout. My gut was screaming to short the 1067.00 -1068.00 but I waited until the price clearly came off the highs.

I was forced to cover with a 5 point profit on the last trade even though I believed the price would continue to sell.

I can not just blindly hold and had to exit at potential support. It is worth noting the 1060.00 was not a support zone on my prep however and it was a manufactured zone intra day.

The other wrong move today was not buying the fake extension of my potential 1063.50 inside support zone just after the open.

I wanted to hit it but saw no volume spike that I like to see when a potential zone gets washed out.

I could feel the trade and need to execute more aggressively still.

I could have pulled a lot more out of the market today and need to step up my game.

June 7 2010 ES Prep Posted

Overall range is 1052.00 - 1106.25. Large volatility. Premise for today is to see if price makes a retracement back above 1069.00 or retests 1052.00. The long side scenario will watch for potential inside support at 1163.50 and an extension of 1169.50. If there is no inside support, look for a retest of 1052.00 with a sideways to downward bias. In this scenario, I will look for a range 1069.50 - 1052.00 with an afternoon attempt to breakout to the downside. If price extends 1069.50, look for a grind up. I have illustrated my execution areas.

June 4 2010 Overlay and Trades

I had a feel for the move down this morning and premised accordingly. I took an aggressive short early on that missed the reversal by about 6 ticks.

My next short re entry would have been 1090.00 but the price did not make it. I got in a hole early but managed to fight out of it.

I covered the second short at the low of the day retest at the time. After that, there were not any good re entries as the price sold off.

Today was tough day and a good fight back after getting down. This was a strong finish to a losing week that was full of good reads and entries but poor management.

The biggest problem this week was weakness and lack of aggressiveness. I need to keep hitting trades and stick with them regardless of my equity position.

Letting my entries work this week would have led to a big win as opposed to a tough loss.

It is interesting that blog traffic was up today. I think many were wondering if I was going to go 0 for 4 this week.

The losing days were a result of me beating myself. It may sound unbelievable but I had some of my best reads and best trades this week. However, the draw was one of my largest weekly draws in the past year.

Starting the day with 2 losers after being beaten the past 3 days while knowing I had the right read put me in an ugly mental place. I felt like I could not do anything right and was highly agitated. Confidence was diminishing.

I considered going off screen because I did not want to turn a bad week into a disastrous week. However, I could not quit. It is not in my nature to give up so I re focused and continued fighting.

I actually got more aggressive knowing that conditions were tough and that I was a little off mentally.

It was not the come back I have been fighting for in the past number of months but it was a strong finish to an ugly week and demonstrated that I could take a stand and recover.

I have a lot of work to do next week and must stay aggressive. I am going to put everything on the line next week and attempt to end this grind I am in once and for all.

I will trade with aggression and conviction. We will see what the past few years work has built.

June 4 2010 ES Prep Posted

Premise for today is to see if 1091.00 holds. I rarely premise for support to break after an overnight move down and test. Bias is almost always for a zone to hold but watch for the lower high congestion I have illustrated. I am going to watch for signs of a move down initiating. If 1091.00 holds, look for test of 1106.00 and potential contact in range 1106.00 - 1091.00. News is out at 8:30 AM EST. 1106.00 is a major area and test to see if this move up will continue or if the price will sell down the lows. I have illustrated my execution areas.

June 3 2010 Overlay and Trades

This is probably getting hard to watch this week. A series of extremely accurate projections clearly marked and described followed by some horrible management.

I had another ridiculous extreme low tick cover exit out of a big winning trade today. I was virtually low ticked out of my first entry as well.

The first entry needed tight management or large risk allowed a couple points below 1091.00. I took the cowardly way out because I just could not allow the price to push against me any further after coming off key highs.

Had I thought it through better I would have realized my premise was for congestion today which is what we got. i may not have seemed like it to most after the lunchtime move down but the volatility is high right now.

I am 0 for 3 and down 10.5 points this week. I have had several excellent entries and managed them like absolute crap. I am not even going to try to analyze it other than say it sucked completely and I need to pull my head out of my ass.

Regarding the low ticks, it is no fluke. I believe that deep down inside, my sub conscience often knows exactly what the market is doing. It is never that clear consciously but the intense training and screen time I have had has to have had an effect.

I think there is some sort of internal conflict in my trading that is acting out through these bad decisions. How can you accidentally exit on the extreme low tick when in the trade in the right direction just before 2 12+ point moves?

Extremely improbable. What am I going to do about it?

Line In The Sand Rules Start Now

1. No break evens. No exception. Ever. I take profits or lose.

2. Take bigger risk. If I am taking heat and another 2 points clears a lower or higher zone I get pot committed.

3. Do not take a trade if it is not worth losing 4 points on.

4. Execute all pull back pivot retests in the direction of the trend.

5. Stop being a coward and hold your ground. If you enter a trade stick to your conviction until the premise has clearly changed.

My plan can produce enough of a streak to quickly get back in the black. That is what I need to make happen.

June 3 2010 ES Prep Posted

Price is extended into 1106.00 resistance. Premise for today is to see if inside support develops at 1095.75. This is shallow relative to the move. The market will have to be strong for this to hold. If inside support holds at 1095.75, look for test of 1106.00 and sideways congestion 1095.75 - 1106.00 with an upward bias and extension attempt. If 1095.75 does not hold, watch for secondary potential inside support at 1091.00. If this holds, we will be more likely to see a more drawn out correction to test the highs. Overall range is 1106.00 - 1069.50 and base premise is to test 1069.50 low if 1106.00 holds. I will focus on longs off potential inside supports and shorts off the 1106.00 high if I get a chance. I have illustrated my execution areas.

June 2 Overlay and Trades

It is late and I am going to do a brief post tonight.

I had the worse low tick cover of a winning trade I have had in over a year today. There were reasons to manage the second trade today tightly but missing the move that I projected and boxed pre market is just plain unacceptable.

I actually stopped the trade out on the low of the bar just before the afternoon rally.

This is the same tight over management I described yesterday and in many previous posts and I just do not have any answers to why I continue to do it. It is not simple fear. The problem is much more complex than that.

I have been on top the moves and structure and hitting my areas unconditionally. The trades are working but I am not working.

I am considering a mandatory minimum 4 point stop on all my trades. This would increase my average loss by more than 25% but also increase my winning % as well as keep me in my correctly premised trades a majority of the time.

I think it will force me to see that my trades tend to work even when they start falling apart. It will cause me to pay when I am wrong but pay me when I am right. I is a statistical fact that I am right more than I am wrong.

June 2 2010 ES Prep Posted

Premise for today is to see if 1169.50 support holds or not. Price has put in a series of lower highs into this area. I prefer to work with zones but the only significant resistance I have to work off of is the downward sloping trend line. If price breaks this, I will look for a run all the way back up to 1106.00 and will not be shorting without a significant reversal structure. The overall range is 1069.50 - 1106.00. This is wide volatility. If price breaks 1069.50, look for test of 1056.00 and 1049.50. I would rather play the long side today. If 1069.50 breaks, short side trading will be tough. I will take a blind shot at shorting the 1086.00 area if the price stalls there. That will be my best shot attacking a move down. Overall, I am looking to the long side until 1069.50 breaks even though structure is a little bearish. I have illustrated my execution areas.

June 1 2010 Overlay and Trades

I had the read and premise absolutely nailed this morning and hit my magenta box twice exactly where I needed to but got too timid with the management.

Even though these were scalps, as mentioned in the prep, the volatility was still 8 - 10 points worth of reactionary leg for each short.

I exited the first too early and cut the second for a loss when the trade looked too ugly to hold. Everybody was thinking long there but the price will hardly ever just keep going up without a correction.

The late day shorts were good trades but I should have already been short and covered into the area I was shorting.

Fading an inside zone is prone to washout and I can not count on consistently hitting these. I had conviction and feel and still scratched 3 times and took 1 small loss on what ended up being the correct trade.

I could analyze this much more but am just going to say that I wasted an extremely good read and have to trade ruthlessly if I want to succeed.

Half ass management and defensive scratches will not cut it.

The result for me after a day like today tends to be an aggressive attack of an area sometime over the following day or two that is completely off premise. Often resulting in dropping 6-8 points.

I am not afraid to talk about it nor will I change anything I am doing. I can not change when I am wrong but I can manage better when I am right.

Let's see if I can beat the likely tilt this week. It will take focus and aggression.

Also, the prep is still in effect. Check the commentary. We are already getting a reaction off 1069.50.

June 1 2010 ES Prep Posted

Tough read this morning. Premise is to watch for potential contraction this AM. While price could contract there is still wide volatility. Overall range is 1106.25 - 1069.50. Minor support of 1069.50 is overnight support. It is not a significant zone but if price retests and holds it could lead to a strong move up to 1106.25. if 1069.50 does not hold, look for test of 1056.00 and likely continuation down from there. Price action could be tricky today. I have illustrated my execution areas.