BS"D

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

Good morning,

In the Daily Pivot Magic Trading Journal, PERSPECTIVE section, we have repeatedly commented:
" . . . Supposedly, the gov't approval of the bailout, besides officially signaling the end
of laissez faire capitalism, will stimulate Bull trading . . . Don't bet on it . . ."
Sadly, we called it again.

The market has plunged over a very significant precipice, and is teetering.
A Red Flag warning remains in effect.

[SNIP]

PERSPECTIVE
(Daily, bottom right chart)

Tuesday:
X = BO signed the much touted bailout plan* on Tuesday. This was obviously well received by
the financially savvy. Note how the market was bolstered! [Total Sarcasm]

Wednesday:
Looks like the BBs may have stopped trading sideways in anticipation of some miracle economic
cure. Wednesday's day candle was a red Bear Dragonfly with a Lower High and a Lower Low.

Thursday/Friday:
Will the BBs retest the LT SW Channel Floor (lavender channel lines) before dipping to the
contract low (plum line)?

What me worry! A day trader profits on the way down just as well as on the way up (as long
as the market stays open).
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*THE PLAN:

In a depressed economy, in order to lower taxes AND to give away more subsidies
(i.e. socializing laissez faire capitalism), one has basically two choices:

1. Print money (causing a devaluation, which will further depress the economy)

OR

2. Take loans (which will, at best, shore up the economy temporarily [during
this term in office], deferring an even more monumental crash until the next
guy's watch.)

REMEMBER: Trade the tape, not my prognosis!

Asher
=] ;-)>
Pivot Magic Trading Course
http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html

Wednesday's PMT Chart: