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

Monday, September 27, 2010

September 27


With two hours left in the session, I looked for paper trading opportunities in TNA. I was early on my read of a breakdown of the markets near the highs of the day but held through the consolidation and rollover. Closed it out at a support area corresponding to the doji at 10:55 am. I stayed out of the consolidation chop for the next half hour, but missed the short opportunity as price broke that same important support/resist. area where I covered my earlier short. I did catch a little winner on the profit-taking pullback of the major move down.
Toward eod, I went long near where I thought price had stalled. It did dip some but instincts were correct and price performed a mean reversion in the last minutes of the day, yielding a winner (though out too soon).

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