Observe & Trade*

Friday, January 7, 2011

Short trade is the order of the day for today.

The whole market is down.

Did not stay in the market after my brief early long trade.

The market drops before lunch break.

Big profits for the bears.

Showing the 1-min. chart from DJ-30 (YM) that was traded in Real Time Trade Ideas.

Using the shorter time frame to get the right entry and exit but relayed them to 10, 5, and 3 minute chart.

Exited at the arrow sign at 11,712 because of the red bars that starts to decline.

And was right to exit for after that it recovered a bit but then drops further.

Made just barely $70.oo for a contract.

Not bad for a quick trade for had to do more errands after this!

Exited at 11660 for a gain of 14 pts.

Looking good! Will exit if it goes up by 10 pts.

Looking for an exit at around 11668 to 11670 and will move the stop to break even if it goes up to 5 pts.