Trade and Commentary Wrapup - 20080604

CHART FOR MORNING MARKET CALLS USING YM



09:44 Toni: the futures here just popped into the premarket highs from around 2:30 am for price resistance initially in here
09:44 Toni: The Nasdaq is closing in on yesterday's last 30 min highs

09:52 Toni: this is some fib resistance on the NQ

10:32 Toni: NQ and ES hitting resistance
10:35 Toni: futs pulling in off the resistance

10:50 Toni: YM is fomring 100 tick "A" buy setup
10:50 Toni: 10:50:24 Breakout Template: For information on A, B, C, D, or Z template patterns, please see http://tradingfrommainstreet.com/images/roomexamples/BREAKOUT_TEMPLATE.gif The green circle is the entry with the red bar as the stop
10:53 Toni: YM first resistance
10:53 Toni: 12470
10:54 Toni: NQ is at yesaterday's highs zone
10:58 Toni: second resistance zone hitting 12480
10:58 Toni: YM
10:59 Toni: trigger on this buy was 12453
11:01 Toni: nice job with YM... still have concern we can keep testing highs a bit longer but hard action to read

11:30 Toni: Dow trying to roll over
11:30 Toni: ES is at resistance
11:36 Toni: YM first support
11:50 Toni: YM is at the second support btw


STOCKS: 2 MORNING CALLS (PBR AND MTL SHORT)
STOPS - 0

10:08 Toni: PBR base at lows
10:13 Toni: PBR going well
10:14 Toni: coming into first support zone
10:14 Toni: 66 is the whole number support
10:15 Toni: 66.04 last
10:15 Toni: 66.01 low
10:17 Toni: PBR :)
10:23 AoN: nice job on PBR toni
10:23 Toni: second support level PBR
10:23 Toni: taking gains



10:33 Toni: MTL potential 5 min avalanche
10:42 Toni: MTL still forming
10:51 Toni: this is 5 min 20 sma zone on MTL so i want to see it react off it
11:00 Toni: MTL "D" trigger in the base triggered... channel trigger close
11:02 Toni: am looking for 51.75-52 on mTL




12:00 ET
... at this point I took off for a few hours due to a migraine ...


15:10 Toni: MTL is breaking down again this afternoon i see
15:29 Toni: MTL hit 51 zone

15:26 Toni: 6 min 20 sma hitting here on the futs gang
15:26 Toni: also 10 sma on the 15 min
15:27 Toni: that is 5 min sry
15:27 Toni: not 6 lol
15:27 Toni: not using funky time frames i promise
15:28 Toni: ("psst.. you see that.... she using 6 min time frame... no wonder i am having problems with my trading... gotta use a 6 minute! its the holy grail!")
15:28 Toni: ok... maybe not....
15:29 Toni: first support on futs off that sma
15:50 Toni: rest of futs hit stop

15:51 Toni: 15 min 20 sma almost hit in the futs here ahead of the close (resistance)