That's more like it.

I just applied my TICK trading rigorously on the initial move on the S&P500 this morning. The action looks to be muted for a while as everyone takes a breather, consolidates, covers and what-not so I figured I would post the "one good trade" of the day. If I really trusted my entries I would be in SSO right now as the TICK says that it is heading back up...perhaps the pivot point is the new target for a reversion trade...I will sit on my profits for now rather than taking a slow trade that I don't completely trust.

TICK:

Note the declining TICK highs even though the SPX is not moving all that much this is like setting a spring and just winding it up until it gets let loose. I used the trigger (black arrow) but jumped it a bit as I would like to see it hit or pass the upper range, I went with the position of price on the chart as well and it was just testing the 50 sma and the pivot point a bit, looked like a good technical entry anyway.

SDS:

Nice entry at $58.80. I kept the sto rather steep as I figured this may be a short lived momentum style trade, glad I did as I exited at $60.12 for a $1.32 gain.

I see that I should have trusted my reversion indication as the SPX did indeed head back up after this quick sell off. I will wait and watch for a setup once everything gets near the pivot point again though. Perhaps I will not trade anymore as I might expect a range day forming until mid afternoon. I need to study more before trying range days again as I do not do very well in them, I don't think I trust my judgement yet.

Jeff.