Friday's action on Dec. Cotton.
Opened at 48.15 -1 point below 1st. Resistance. It went up to 48.50 (high)and reversed and reach a low of 48.20 two more times during the day and tried 48.50 high one more time during the day before settling at 48.46. One of my rules is if a market opens and does not go down before going back up thru the open I don't trade it.(just the opposite for a sell) The market has a bad habit of breaking just thru a resistance or support and gets people in and then reverses. I will buy as it goes thru a resistance number by a couple points(like in cotton-1/2 cent in grains) before entering that market. I will place my stop just under the open or a support ( resistance may now be support)if it is close. Also there needs to be some profit in it before hitting next resistance or support number. I try not to be greedy. If I have 3 contracts on I will get out with two and hold the last for next number or the close. I will bring my stop up just below where I got out on two of them, and if it does take me out I still made money on it. Take a look at my numbers posted on Friday, and you will see that the rules worked, there was only one market where you could take a trade except that the next support number after the break was too close. It was wheat if you sold 1/2 cent under 1st support and stay in until the 3rd-support of 326.75. Sorry if I bored anyone with this long post. Don

P.S. Will post some Markets in the mouring.