Wednesday, April 8, 2009

Yeah, forget about all that...

ST-R1 held and pushed the SPX down significantly
So I'm back to the scenario of trying to enter long near ST-S3 which is right at 800 at today's close. Therefore, with my end-of-day accounts not managed by mechanical methods, I'll go 100% long today if the SPX is between 800-805 at my trading cutoff time.
It's unlikely,
as we've now bounced nicely (at 1:30p Mountain) a bit above ST-S2 (chart below) which indicates ST-S2 is being watched closely. The battle appears to be shaping up between ST-S2 and ST-R1.
I need an acronym...
"End-of-day accounts not managed by mechanical methods", I need an acronym for that. It's actually worse than that even. These accounts are also tax-deferred/tax-free. So, EOD-DT-TF for "End of day - Discretionary Trading-Tax Free" and I'll hyperlink it to a definition when I have more time.