BS"D

Good morning,

Yesterday we wondered if, " . . . we [have] returned to the "hover-dive or dive-hover"
mode again? Is it going to be one good move a day (enabling the BBs to pay the bills),
and the rest of the session is going to be BORING, and full of traps?" Still wondering?

Tuesday's dive-hover ran straight from one PMT PL to another PMT PL, so we were
able to take a nice large profit. Then we caught a bite to eat, and nice long snooze!

Enjoy and be well,

******************************************
PIVOT MAGIC TRADING JOURNAL - EXCERPT
******************************************

E-mini
Tuesday June 30, 2009

Tuesday morning opens slightly gap-up, and continues north to test the R1 Resistance.

1 = Large red Bear Dragonfly "P" Signal off the R1.

A = Conceivably got pulled in as this (disappointing) white candle dips and retraces.

B = DVS (pink arrow) generates a giant red candle. Pulled in on this candle, or on = A. Either way, the
position is now in violation of the Pivot Magic Trading Maximum Profit Giveback (MPG) rules. Mental stop
at Giveback level. Prepare to exit briskly if Support at the Close holds strong.

C = Large red inverted (Bull) Dragonfly spikes through the Pivot and retracts. Per PMT stop rules, jump
the stop tight above the Close.

2 = This is a 2-candle 123, an "S" Signal. Add contracts (or enter if you missed = 1).

D = DVS (pink arrow) blasts a giant red candle through the Pivot and Mid. Per our stop rules, move the
profit-locking stop above the Mid.

E = Large red inverted Dragonfly stretches to tap on the S1 and Price Action retracts. The candle's long
bottom wick, skid mark, warns that the brakes have been applied. The Twin Towers Volume pattern (pink arrow)
further indicates that Price Action will now stall.

F = Stall it is! Just barely large, red, inverted Dragonfly again taps on the S1. Getting scared? Per our
rules, move the profit-locking stop above the high of the candle.

G = Last ditch effort. How do we know? By reading the tape!

* Late in the move DVS means desperate expenditure of Momentum.

* Elongated bottom wick, 3rd in a row, means the move is exhausted.

Normal stop placement (above the S1) leaves the position in MPG violation. That's good news because the MPG
rules dictate that we use a mental stop at Giveback level. A mental stop affords greater exit flexibility
(no need to Cancel-Replace), for which we are grateful with an emergency exit so likely to be called for.

H = Black Volume Bar of Death Doji. The following candle (time wise) was mostly white, but even as a Bear
attempt, it is quite clear that the Momentum is lost, and that the Bears are unable to recover.

Then comes the large white Bull Dragonfly. The coffin is nailed. The instant this candle shows white we know
to Exit Now! +/- 11.50 points

2 = Reversal pattern is so tiny that we need to call it a 123. The Volume has started to taper off, and the
important 50% Fibonacci Support (dotted pink line) provides a safety net. Without lots more confirmation, we
can't justify an entry away from the rubber band to the Pivot/Close at this hour.

Lunchtime sideways drift carries on, mid-air, until very late in the afternoon.

4 = Surely this is a "P" Multi-top retest of S1 Resistance. The Volume however is so paltry that we don't
even consider entry. The final the time for a permissible PMT entry passes by.

EOD closes just above the S1.

PERSPECTIVE
(Daily, bottom chart)

Price Action is still dancing in the middle of the LT Trend Channel
mirror channel (dotted green line), a drop above the Fib 50%
Retracement level.

Anything is possible.

Nice day for day trading the e-mini!

REMEMBER: Trade the Tape, Not my Prognostics!
Asher
=] ;-)>

Pivot Point Trading Course
http://www.tradingthingys.com/PMTJ/Commodity%20Day%20Trading.html

Tuesday's PMT Chart: