"A man is not finished when he is defeated. He is finished when he quits."

Tuesday, December 8, 2009

December 8th End of Day



Made a couple more paper-trades, this time in GG when I had a chance to sneak into the market later in the day.
Note the "What's Familiar" notations on the chart... the Yellow Lines which point to candle's closing at the high or low of the 5-min timeframe and dojis or near dojis, all of which tend to have a high correlation to reversals. Also note the high volume spikes as signs of reversal/ tops & bottoms (thin white lines from the volume bars up to the corresponding candle.)

December 8th


This morning's open where I closed out a short from EOD yesterday.
Risky to hold overnight but I had a good feeling, given the recent up/down action. A break upward would have killed this trade in a huge way. I'd never hold real money overnight in a 3x ETF... Never!