BS"D

Good morning,

Good morning and a good week,

In Friday's Daily Pivot Magic Trading Journal, PERSPECTIVE section,
we rightly projected:
" . . . Meanwhile, with the mass of S/R influences in this
neighborhood (red, blue, plum), a Bear retest on Friday is
[a] good bet. BEWARE OF TRAPS ON FRIDAY "

Got that right. Even managed to avoid most traps and to
take a large bite out of the long run back up.
Nice way to end the week!

Enjoy and be well,

*********************************************
DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT
*********************************************
E-mini ES H0
Friday February 19,2010

Morning session opens gap-down, with Bears bouncing off the Pivot to test the S1.

1 = A 2-bar "P" Signal off the S1. Sadly, the Price Window from entry placement to the (proven) Pivot is
too small per our criterion. Besides, it looks suspiciously like a DVS-based Signal, which we avoid.

2 = A 123 "S" Continuation Signal tests the Pivot Resistance-turned-Support and heads north.

A = Pulled in on large white inverted (Bear) Dragonfly. Advance initial stop under the low of the candle
to reduce At Risk.

B = Large white candle through the Historical S/R (Daily, bottom chart, light blue line). Per PMT stop
rules, move the profit-locking stop under the light blue line.

C = Giant white candle blasts through defenses at the Close (opening gap's officially closed) and Fibonacci
62% Reversal Level (Daily, bottom chart, red line). Per our stop rules, move the profit-locking stop under
the red line.

D = Large, white candle with a very elongated top wick suggests flagging Momentum. On the other hand,
Volume driving the Bull advance remains quite strong (pink arrow). Per PMT stop rules, move the
profit-locking stop under the low of the candle.

E = Continuing strong Volume pumps a large white candle well through the MidM. Per our stop rules, move
the profit-locking stop under the MidM.

A pair of small red candles (blue arrow) do not succeed to really complete the mid-air Doji Sandwich Reversal
Signal. Accompanied by very diminished Volume (pink arrow), the tape reading is, "a not dangerous stall".
MA Support has been adequately proven, so our stop should be safe.

F = Large white candle/failed test of MA runs up toward the R1. The position is in violation of Pivot Magic
Trading Maximum Profit Giveback (MPG) rules. Mental stop at Giveback Level, but don't insist on giving it
all back should the Price Action dawdle at the R1.

G = A pair of white inverted (Bear) Dragonflies spike the R1 and retract. That' a PMT Exit Now! Signal
+/- 5.75 points

The BBs head out for lunch, and Price Action hovers, drifting sideways at the R1, eventually drooping to test
the red line and Close. With no signs of trading interest, we let everything go by to EOD.

PERSPECTIVE
(Daily, bottom chart)
Friday's long day candle bridged the entire range between the Fibonacci 50%
Bear Retest, and the Fibonacci 62% Bull Retracement levels, closing EOD at
the 62% level. We aren't much more well-informed about the upcoming prospects
than we were going into Friday. However, with the Daily tape displaying 6
white candles in a row, odds on, Monday will be a "red" day. Be prepared,
but . . .

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: