BS"D

Good morning,

Pivot Points distinctly defined the Price Action, but it was Touch
and Go Trading in the E-mini.

The tape displayed pretty much what we anticipated in yesterday's
Daily Pivot Magic Journal PERSPECTIVE section:
" . . . Tuesday's . . . long top wick suggests that Wednesday may
again test the Support at the light blue line. Probably only a
small-range breather day test."

Sadly, in terms of profitable trading, our second projection,
"No great expectations for Wednesday . . . ", turned out to be
correct as well.

Maybe Thursday?!?

Enjoy and be well,

*********************************************
DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT
*********************************************
E-mini ES H0
Wednesday February 10,2010

1 = Morning session opens at the Close, struggles with that PL and the Pivot, finally breaking free on a
123 from the underside of the Pivot.

A = DVS (pink arrow) blasts a giant, red, inverted (Bull) Dragonfly. Initial stop normally goes above
the MA, but the long bottom tail retraced almost 2 points (a PMT Exit Now! Signal), giving us a bit of
a SCRATCH scare. Fearing a retest, aggressively jump the stop to "free trade".

B = Bear action resumes, with a giant red candle spiking the light blue line (Daily, bottom chart,
Historical S/R). The position is now in PMT Maximum Profit Giveback (MPG) violation. Mental stop at
Giveback level.

NOTE: Again today the ABS is bloated. Consider expanding
stop placement and MPG Giveback levels.

C = Slight (exhaustion) gap, and a large red candle through the light blue line. Move the profit-locking
stop above the line.

Notice that the tape now displays 3 candles in a row with elongated bottom wicks. Prepare for a Pivot
Scalp Exit.

D = To PMT readers of the tape, DVS late in the move (pink arrow) says, "exhaustion". When the long tail
of this red, inverted, Dragonfly spikes the S1 and retracts, Pivot Scalp Exit! +/- 7 points

[SNIP]

4 = Finally, at 2:30 the tape offers us a trade Signal, a 123 of the Pivot. Move doesn't prove.

5 = Now we are presented with a 123 test of the Pivot from the underside. Again, the move does not prove.

The sun sets on another Doji day in the e-mini.

[SNIP]

REMEMBER: Trade the Tape, Not my Prognostics!

Asher
=] ;-)>

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

Wednesday's PMT Chart: