No real opportunities the rest of the day as it was simply pre-weekend games on the floor.
For the day we netted 6 3/4 points.
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1:45 pm EST
Stopped out at 1482.65 for a 2 1/2 point profit.
We have locked in 6.75 S&P 500 points so far today.
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1:41 pm EST
Move stop to lock in 2 1/2 points at 1482.65
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12:51 pm EST
We are going to go long here at 1480.15 on the break of the upper channel line and the buy on the stochastics.
Keep a pretty tight stop of a buck and a half to two bucks.
If it is going to move, it should do so in short order, if not something is wrong and we get out.
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12:44 pm EST
If we can break the upper channel line on the 5 min chart and get some follow through along with the stochastics on a buy signal then I might entertain going long.
But as things stand now, we remain flat awaiting a clearer picture.
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12:39 pm EST
There really is no clear cut picture as to what is going on and I had thought the market would have worked its way lower by now.
So when in doubt GET OUT!!!
At the market 1479.25 for a loss of .75 points.
This puts us up 4.25 points on the day.
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12:24 pm EST
Going short at 1478.50 with a close 1 1/2 point buy stop.
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Really looks to be having a hard time and I am sure we will get stopped out at breakeven.
The next move will be to go short upon the crossing on the 5 min chart.
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11:59 am EST
Move stop to break even 1479.50
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11:49 am EST
Long from 1479.50. Stop just under the days lows @ 1476 even
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11:43 am EST
We were stopped out of our short position with 5 points profit.
Looking to go long on a crossing of the stochastics basis the 5 min chart.
Odds continue to favor higher prices today as the gap was not filled in the first hour.
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11:21 am EST
Made the 1477.25 target so tighten up the stop to 1478.25 to lock in 5 points profit.
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11:16 am EST
1477.25 is the downside target. I would expect a rally after we achieve that price level.
This market is very quiet today.
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10:39 am EST
Watch the 1483 Pivot Point for a short trade if broken.
Keep an eye on the top blue line also as the 5 min chart has made a very nice bull flag and that calls for higher prices. We also did not fill the gap in the first hour, so this tells us that odds favor today to be a trending day in the direction of the gap which was up.
There are opportunities on both sides here, we just have to wait for them to set up.
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Get ready on a break either way in the triangle
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Getting very close to SHORTING TIME!!
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