NYSE Cumulative TICK:
In hindsight I see the obvious overall pattern as the TICK trends down, up, down then back up again. Here is the SSO chart for the same period and the correspondence is unmistakable
I misjudged a turn around on that first trade. The second was bang on except I moved my stop up on that first little rally after my entry, had I left it longer I would have captured some decent amount of the following move as the price rallied from that $25.21 entry up to the pivot point at $25.84 and a bit beyond.
Here is where most of the early day activity was prime, SDS.
These trades were well placed, although I missed the volume signal off the start. The TICK at this point was slightly positive (reverse correlation here) but the price would not move down, then the volume levels spiked and stayed that way for a few minutes while things wound up. There was a really nice entry for a few minutes but I missed it altogether. Once it started to move I jumped in as the high from yesterday was breached (black line) and bailed at R1 for a small profit.
#2 stopped out too short
#3 was pretty good and I bailed at R1 again figuring this was a good resistance point.
#4 didn't make it to R1 and I held it back to a small loss
#6 very sadly stopped out but it was at break even, case of moving the stop too soon
#7 was a good entry for a 200sma bounce but it did no bounce, so I reversed in the second trade in SSO...which stopped out.I didn't get back until after lunch to even look at the market activity or I expect I would have jumped back in at the pulbacks in SDS over the next hour as everything lined up for nice clean uptrending entries.
These trade ideas are starting to work out well enough on the idea basis alone...now I just have to work on the executions.
I am finishing this up as Wednesday is progressing. Although this is a nice expected dowtrending day, and it has been following expectations, I have not been able to do much about it due to appointments. I'll throw up a chart later.
Jeff.
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