Trade and Commentary Wrapup 20080717

The following is a wrapup of all my market calls and trade posts for July 17, 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

13:16 Toni: bit of futs resistance here

13:08 Toni: ATHR base at highs
13:18 Toni: athr having trouble with that 22.30 sheesh
13:46 Toni: ATHR scratch
13:46 Toni: +.10ish
13:46 Toni: should have gone
13:50 * Toni trouts ATHR



13:38 Toni: futures resistance here at prior highs zone
13:43 Toni: NQ exhaustion move

14:14 Toni: market is so extended here.. hard to find much for setups since larger bias is bullish on a daily time frame but short term its prett extended into resistance
14:14 Toni: 15 min charts are favoring a correction
14:15 Toni: but can easily just be chop
14:15 charlie: but is that u or the 8 ball saying that?
14:15 Toni: lol
14:16 Toni: ok "will be fall apart into the close?"
14:16 Toni: uh oh... what happens if it doesnt answer you
14:16 Chris: I'm getting "Concentrate and ask again"....lol
14:16 charlie: lol
14:16 Toni: "outlook good"
14:16 Toni: yikes
14:16 Toni: i asked again
14:16 Toni: "signs point to yes"
14:36 aOn: any news out or just exhaustion?
14:37 Toni: market is just exhaustion
14:37 aOn: i mean mkt wise
14:37 Toni: just rounding off at highs
14:37 Toni: plus my 8-ball says its going down :)

15:27 Toni: NQ avalanche potential 5 min
15:38 Toni: avalanche target
15:38 Chris: nice call on da avalanche T



16:30 Toni: futs gap down... big surprise :)
16:30 Toni: NQ under day's lows
16:39 Toni: this futs opened at 5 min equal move support on the ES
16:39 Toni: but pace is still bearish