Dull Market? Not In My Book!
DJIA
Wow, what a day yesterday with the system. We entered short when the
lower channel line of 10663 was violated, rode profits for a while, then price
reversed and began rocketing back toward the lower channel line. The wide
profit protecting trailing stops closed out the position with small
profits.  Price then danced along the channel line before
breaking it again by the systems parameters triggering a short entry. This
entry was slightly profitable, then during the final 3 minutes of the regular
trading day, price shot slightly back into the channel. The decision was
made to stay short overnight. Holding shorts into open, I am expecting a
test of the 10527 level today.  Short/profitable
OIL
I am maintaining my short bias here and holding the position from entry at
64.97 in the QM’s.  Short/loss
US Dollar
Weakness is starting to be in evidence in the EUR/USD pair. Awaiting
breakage of the go short level of 1.2197 to enter shorts.Â
Flat/short
bias
US Equities
(
CPV |
Quote |
Chart |
News |
PowerRating): This swing trade is slightly positive this morning from
yesterday’s entry at 29.65. Long/profitable
(
GOOG |
Quote |
Chart |
News |
PowerRating):
My initial short call near the first of the month remains
valid. I was stopped out of the first entry with nice profits and am
awaiting 269.97 to break before entering short again. Flat/short bias
(
EBAY |
Quote |
Chart |
News |
PowerRating): Holding shorts into the open. The 50 day MA is 37.43 and I
am expecting this level to be tested soon. Short/profitable
(
BHP |
Quote |
Chart |
News |
PowerRating): This one continues to perform nicely. Holding longs here
with nice profits. Long/profitable
Best wishes in the market!
Dave G
David S. Goodboy (marketsurfer) has been
trading professionally for over 14 years. Mr. Goodboy trades ETF’s, stocks,
index futures, energy futures and options. His primary focus is a unique
multi-time frame index trading system based on a combination of time/price
cyclical studies and statistical models. David was a trader/partner with
Biltmore Capital, traded with an option arbitrage firm, and is currently in the
launch stages of IntrendX, a global multi-strategy fund.