BS"D

DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT

Good morning,

Nice run from Pivot Point to Pivot Point. Friday, we got a real
tasty bite out of the morning session run down to the S2. Rest
of the day (except End of Day Hiccup) was boringly sideways.

With the day closing on a 10-point upswing, this is a perfect
opportunity for a Monday Bull continuation. Be prepared.

Enjoy and be well,

******************************
Pivot Magic Trading
First rule:
"Any time you don't know what is happening, get out!"
******************************

E-mini
Friday August 14, 2009

1 = Morning session opens gap-down, and trades through the Pivot with a 2-candle 123, a PMT "S" Signal. Volume
is strong enough for an aggressive entry, BTW.

A = Large red Bear Dragonfly through the Mid. Per PMT stop rules, move the profit-locking stop above the Mid.

B = DVS (pink arrow, did this use up the Momentum?) drives a huge red candle through the S1. Even with our stop
above S1 (usual PMT stop placement), our position remains in violation of Pivot Magic Trading Maximum Profit
Giveback (MPG) rules. Mental stop at Giveback level.

C = More strong Volume pumps a large red candle to the Low and retracts. Position in MPG violation. Mental
stop at Giveback level.

D = Large (just barely, today), red, inverted (Bull) Dragonfly spikes the Low. Per PMT stop rules, move the
profit-locking stop above the high of the candle.

E = Large red candle through the Low. PMT stop rules advise to move the profit-locking stop above the Low.

F = DVS (pink arrow) generates a large, red, inverted (Bull) Dragonfly. Per our rules, move the profit-locking
stop above the high of the candle.

The DVS suggests exhaustion, as does the elongated bottom wick (skid mark). Not that it makes any difference in
the end, but this configuration suggests using a mental stop for quick exit purposes.

Next candle resembles a mid-air Reversal, but rather weak. So close to the Primary Objective (S2) we may chose
to rely on hope, but the instant the following candle (white Bear Dragonfly) shows white, Exit Now!
+/- 10.50 points

Volume dwindles, and Price Action turns sideways with a slight downward drift to complete the S2 attempt.

2 = Doji Sandwich spikes off the S2. Lunchtime Volume cancels this Signal. The move never did take off.

On through the final time for an acceptable PMT trade, lunchtime drift continues sideways twining the MA. We
shut down for the day early.
Right on time, the EOD Hiccup (plum l
ines) takes on the classic "V" check mark shape and Price Action climbs back, through the Low and S1, for a full
10 points.

PERSPECTIVE
(Daily, bottom chart)

With Price Action still edging sideways, Friday's day candle closes back
inside the LT Trend Channel (green channel lines).

Friday wasn't the Bull attempt we expected, but not red enough to cancel
our Bull expectations for this week.

Weakened, but not cancelled completely!

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

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

Friday's PMT Chart: