Trade and Commentary Wrapup - 20080710

The following is a wrapup of all my market calls and trade posts for Thursday, July 10, 2008.

Instructions for Use:

When following along in the chatroom, futures posts are done most often as support / resistance calls with support as buy and resistance as short (or closing out open positions from the other direction. These are pivots. Other patterns are posted according to the pattern forming, such as the Avalanche on the NQ below, and a link showing how to trade the pattern is posted.

Stock calls are breakout patterns unless otherwise stated with bases at highs as buys and bases at lows as short. We use the following template:
http://tradingfrommainstreet.com/images/roomexamples/BREAKOUT_TEMPLATE.gif

There is a link giving instructions for accessing this free chatroom on the lower left side of the page at http://www.tradingfrommainstreet.com/


WRAPUP

10:02 Toni: NSC base
10:08 Toni: nsc first resistance
10:14 Toni: NSC pace slowing here at resitance
10:14 Toni: 62.40 zone
10:16 Toni: NSC held resistance well
10:16 Toni: nice little trade at least



10:26 Toni: ESI base at lows
10:26 Toni: did have extended morning

10:47 Toni: futs resistance
10:51 Kaizen: nice Toni, thx for a few ES points there ;-)
10:51 Kaizen: you rock!



11:36 Toni: VSEA base at lows
13:17 Toni: VSEA have off watch list now

11:57 Toni: ZUMZ base at lows
12:17 AoN: Toni, nice call on ZUMZ! what do u expect there?
12:19 norancho: i am thinking 13.40 fwiw
12:19 AoN: ty
12:20 norancho: not quite to support, at around 13.30
12:27 hermosaj: toni, u have target on your zumz?
12:28 AoN: if u r familiar with Trader X and his Fibo's extension system
12:28 AoN: than the final tgt is around 12.75
12:29 hermosaj: yeah, i draw them, but they haven't been working so well for me recently
12:29 AoN: yes, u r right
12:29 AoN: i took half off with 2R
12:29 AoN: 1/4 waiting at 13.50 from norancho and also round number
12:30 AoN: and lets see therest
12:30 AoN: my stop is : 14 now
12:35 AoN: there goes norancho's tgt
12:35 AoN: took 1/4 more off
12:35 AoN: my best trade in a while



15:15 Toni: futs resistance
15:38 Toni: first support futs
15:38 Toni: on that pivot



http://www.tradingfrommainstreet.com/presentations/ISE_TimeFrameAnalysis.ppt