BS"D

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

Good morning,

I'm back, but not really. Operation was horrid. Hospital recovery time was worse.
And now, they tell me to expect to be bedridden at home for another 2-3 weeks.
So, I guess I need to apologize, and to advise you to anticipate intermittent, and
brief PMTJournals for a while.

Sorry, but even this shorty was a real drain.

Enjoy and be well,

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Pivot Magic Trading
First rule:
"Any time you don't know what is happening, get out!"
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E-mini
Monday May 11, 2009

1 = Morning session opens gap-down with a powerful Anomaly (Overnight, bottom left chart) off the re-enforced S1.
Although the Reversal might be a DVS-based 2-bar, we could still consider aggressive entry since the S1 is also
the LT Trend Channel Ceiling (Daily, bottom right chart, green channel lines).

A = DVS (pink arrow) blasts a giant red candle through the Low. Per PMT stop rules, move the profit-locking stop
above the Low.

B = Large red candle. Move the stop, per our rules, above the high of the candle.

Next candle retraces >62% of = B, for a mid-air reversal signal, and THAT we all recognize as one of our PMT Exit
Now! Signals. +/- 4.75 points

2 = A "maybe" continuation entry signal off the MA, but the proven S1 effectively shuts the Price Window. Per our
criterion, no trade.

C = No 2-candle 123 continuation entry:

* The long top wicks indicate exhaustion.

* The Diminishing Volume indicates exhaustion.

* The clock warns, "lunchtime is near".

The Price Action turns sideways for a very long lunchtime drift.

3 = Finally, something looking like a signal (red Bear Dragonfly), but the Volume is very low (pink arrow), making
this less than interesting.

Lazy day ends with the opening gap unclosed!

PERSPECTIVE
(Daily, bottom right chart)
The slow climb continues inside the LT Trend Channel (green channel lines).
Trading is struggling at the top of the Trend Channel.

Perhaps a floor assault is coming now???

REMEMBER: Trade the tape, not my prognosis!

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

Monday's PMT Chart: