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Buy CZ here at or around 678 1/2. Its 1/2 way back of the rally going back to the 5.75 low in July up to the recent August high at 7.80.
Buy it and use good risk/reward parameters.

As far as the Dow Futures, 5 days ago we were at 10,700. Friday’s high was 10,450.
Today we rolled down to 11,176. 11,166 would have been a 38% pullback. I had orders to buy it there, but didn’t get filled. We never traded there. Currently we are at at 11,215.

Here at 11,215, we are smack dab in the middle of our one month trading range […]

434 points ago I made three different attempts to buy the dip in the Dow. On each trade we were stopped out for small losses. Today, as things in the world have calmed down, the position would have been a 4,340 profit on every contract.

The point to this entry is to have a short memory. Like NFL quarterbacks, you have to have a short memory. There will be more opportunities as we trade within a 1500 to 2000 point range in the Dow Index. Between now and the election, I am sure there will be great opportunities to take advantage of.
Right now, with […]

We tested 10,695 today and proceeded to chopp sideways to higher in very volatile trade.
On three separate occasions I entered long positions and was stopped out for losses.
My buy area was around 10,800 level.
We settled the day close to 11,000.
Timing was the issue today, however.

There is nothing more difficult than taking losses on positions, only to watch them turn around in your face and be profitable.

It is important, however, to stay disciplined with the trading rules. Lose the discipline and in the end, every trade just becomes an exercise in hoping and wishing.

Trade selection is key. Order entry […]

10,695 holds. So far this has been a good technical break, with old lows providing support. However, there has not been any good rallies off of these support levels.
60 ticks is not a very substantial rally. I was looking for 100 to 150 point bounces from these levels.
Evidently, there are ready sellers on any bounce.
Below here we have 10,580 as the next level I’d look to buy. At this point, after a 7day, 1000 pt drop, I am in the opinion that its worth looking to buy dips.
Ultimately, we may go down and test 10,400, but at some point, the market […]

10,695 holds. So far this has been a good technical break, with old lows providing support. However, there has not been any good rallies off of these support levels.
60 ticks is not a very substantial rally. I was looking for 100 to 150 point bounces from these levels.
Evidently, there are ready sellers on any bounce.
Below here we have 10,580 as the next level I’d look to buy. At this point, after a 7day, 1000 pt drop, I am in the opinion that its worth looking to buy dips.
Ultimately, we may go down and test 10,400, but at some point, the market […]

Yesterday’s high at 11,400. Currently trading at 11,023. I hope you had a small short position going into 1) President’s speech and 2) the anniversary of the 911 attacks.
I firmly believe that NO MATTER WHAT the President of the United States says, the professional traders were going to sell in front of it. He could have come out and said the USA discovered cold fusion, a cure for Cancer, and the location of the fountain of youth, simultaneously, and the markets would have still sold off.

The bottom line, in my opinion. We are going to have a 2000 point trading range between 12,000 […]

Gold, the darling of the TV commercials and AM Radio end-of-times folks, spiked up to $1,923.00 yesterday. Today’s low is $1,816.00. That’s a 5% haircut in 12 hours.
I have been a reluctant long since $1,600 lows back in the middle of July.
I continue to buy way out of the money puts at the 1500 level every time we make a new high. They are cheap tickets that will eventually pay off 10 or 20 to 1.

If not, they are a hedge against the long position we have had since 1,600.
I have sell stops for the futures below 1704. If that level […]

Dow Support we can look to? 10909, 10713, 10579, 10401 could all come into play today.

S&P, 1133, 1112, 1103, 1076 would be levels we would look for support. We seem to be knee jerking from Europe and Asia panicking because they had no where else to sell because of our Labor Day holiday.

I would want to be short this week. I think Thursday, no matter what the President says or the Republicans say, we’ll spike lower the moment he says “Good Evening”.

The exaggerated sell off which will come at that point, probably, will be a good spike down to buy. You have […]

Last Thursday before Mr. Bernanke spoke, I listed 11,674 as a sale level in the Dow.

This morning, after the unchanged employment figure, the market has given us the chance to take out 378 point. That’s $3,780.00 for every contract you have on.

I would cover 2/3 of the position for a profit. I would put a buy stop in at 11,450 to 11,550 on a buy stop on the other 1/3.

That is all for this morning. I thought the bounce was over done. A relief rally after the contrived panic of August.

I really don’t know […]

We reached some decent resistance in S&P at the 1210/1211 level . 12,425 target hit as well in the Dow Futures.

Not saying the top is in, by any means, but i think we are over done a bit on this “relief” rally.

August, as usual, was a month where the program traders take advantage of the market’s dirty little secret. 1/2 of Europe is gone on vacation. Traders and managers who are up money on the year after 6 months are taking a chunk of vacation time off as well.

Generally, the only people active in August are […]