Daytrading Course
Learn to Read the Tape
Exploit Pit Pivot Points
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PIVOT MAGIC JOURNAL - EXCERPT

Good morning,

Collected some points Tuesday! Not a monster day,
but not too shabby either.

Be well,

=] ;-)>
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BS"D

Pivot Magic Trading
First rule:
"...Any time you don't know what is happening, get out!"
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E-mini
Monday February 25, 2008

. . . [SNIP] . . .

For several long hours Price Action trades mid-air, leaving us with no trading opportunities. Actually, there are a
couple of non-self-confirming signals off the Close, but without strong Volume to support the moves, we are forced
to sit on the sidelines.

2 = Full-scale Double-bottom of the Close with a 123 kickoff. Although Volume today is not overwhelming, it has been
consistently Bullish for the past half hour.

Best-case scenario: Taking the "S" 123 kickoff as an aggressive opportunity, we get pulled in on a large white candle
(blue arrow).

F = Price Action hesitates for one nerve-wracking candle, and then blasts northward on extraordinary DVS (Deseperation
Volume Spike, middle chart) Volume. This burst may well have exhausted the Momentum.

Not sure whether to call this is a "Don't know what's happening" situation or not, but it surely violatesPivot Magic Trading
Maximum Profit Giveback rules. Briskly move profit-locking stop under the R1 (or Exit Now!)

G = Our old friend Higher-High-Turns-Red. If you didn't jump already, the ideal exit was actually as soon as the spike of
the next candle crossed back under the LT SW Channel ceiling (lavender line). +/- 11.25 points

. . . [SNIP} . . .

PERSPECTIVE
(Daily, bottom chart)

Not exactly the explosive breakout we have been anticipating, but Price Action of Monday's daily
candle did close more than 20 points north of the Historical S/R (green line)/LT SW Channel floor.

This might be the start of something big!

REMEMBER: Trade the Tape, Not my Prognostics!

Asher
=] ;-)>
Pivot Magic Trading Course
http://www.TradingThingys.com

Monday's PMT Chart: