trade for 11/30/2001 Friday <$>
range 1147.50~1137.50 or 1149 ~ 1140.
1136, buying bias, if GDP report is cooperative, target will be
1155 before 7:30AM and follow thru on Monday. If sp spiked to
1155 after GDP watch out for opening gap up and sell off from
profit taking. Before report, don't try to short.
this 1136 is violated by 1 tick, another story..., this 1125
and 111x will be flashing again (less likely). Intra-day
scalping: Trading range 1137~1147 or 1140~1150.
after 8:00AM - Stop 1144.50, scalping short side, target 1136-7
testing. Expected close 1139.50-1140.
Day high 1144.50, low 1135.50, closed 1140]
trade for 11/29/2001 Thursday <$>
though it is a potential reversal day (becuse our first target
1125 almost achieved), any buying (or short covering) could
be premature before 7:45 AM, try to short one more time.
Wed update: If 1134 is intact after midnight, trading range
1134-1127 before durable goods report. For reversal sign, 1138
must be broken first, otherwise next target 1124, then 1115
(potential spike only) before bounce attempt again. This
1122-25 is a strong support. Opening
Update: Today will be a reversing day, target 1145-47 tomorrow
Opened 1131.50 then plunged to 1125 and started to reverse back
up to 1144.50 close.]
trade for 11/28/2001 Wednesday <$>
afternoon Update: Before 8:00PM: try use 52.5 stop scalp to 44..
if not achieved, then try after midnight but stop will be moved
to 1156-7. (Conservative trader: wait for midnight only) Resistance
1157 area, still try to sell short for target 1144-1142 target
and reverse to buy side.. for 1155 testing; if 1156 stalled again
after reverseing.. try to short AGAIN. Morning
opening gap down area 1146-1147.
(Tue) update: 1125-1122 target is
still valid before Thursday 7:45AM. Until then, don't try to buy
midnight, stop (for shorting) range will be 1152-1156. Violation
or spike of this level does not indicate up side reversal, because
we are just not in buying mood before Thursday!
Update: Stop 1151, selling bias, target 1125-22 still valid.
High 1151, opened gap down at 1143, bounced to 1138 and plunged
to 1128, closed @1129.50]
trade for 11/27/2001 Tuesday <$/!/>
this 1158.75-1159 is intact at 00:01AM, try to scalp short side
to 1151 with stop 1159. (Keep
in mind, don't expect a target more than 10 points for scalping.)
this 1159 broken before midnight, wait reversal down after midnight.
Don't try to scalp short at the low. If
1150 holds before 7:00AM, a rally to 1170 will be possible again
followed by a pull back on Wednesday.
Globex high 1156.50, plunged to 1150.50, then plunged to 1141.50
before 7:30; bouced to 1164.50 and plunged to 1150.50 close]
trade for 11/26/2001 Monday <$>
back scenario: Aggressive trade: Short scalp
selling after mid-night. Stop 1159.75 for 1150-1 testing (watch
out for reversal up).
mid-night, buy side support 1150, stop 1149.50, buying bias
target 1157.75 - 1161; if 1150 holds at Globex, target will
be 1170-73 followed by a 17-20 points pull back. Trading
range 1160-1150, if 1150 holds, trading range 1150-1170.
Globex high 1158.50 (our stop 1159.75), plunged to 1146 and
bounced to 1155.50 close]
trade for 11/24/2001 Friday <$/!>
1142.50, selling bias at globex, target 1132-31. 1144 violation
would take market to higher high.
update: Stop 1148.50, scalp short to 1140 target.
Globex high 1141.50 and plunged to 1131 then bounced to 1153
close. 1148.50 stopped out 1 point.]
trade for 11/21/2001 Wednesday <$>
support 1135 for buy side. Before 8:00AM, trading range 1137.50~1144.50.
1146 is broken before 8:00 AM PST, it could bounce to higher high
(or 1158-62). If
1146 is intact at 8:00 MA, this 1136-35 will be tested before
reversal up attempt after 10:00 AM. Gap
down open at 1138 area is likely.
trade (including globex): 1146 stop (risking 1 point), scalp short
to 1141 and 1138.
trade for 11/20/2001 Tuesday <$>
in mind... 2 days up and 1 day consolidation. Trading
range 1163/1158~1146/1143 (if broken, target 1140). If
it opened gap down, try to scalp buy into 1162 and reverse
to short. If
gap up and spike to 1162 area, scalp short to 1146. Aggressive
trade at Globex: stop 1153.50 (risk 1 points only), sclap to
AM Update: Stop 1152.50, short 1151.50, target testing day low
After our post, Globex plunged from 1152 to 1144.50 and opened
1149; afternoon plunged from 1152.50 to 1142]
trade for 11/19/2001 Monday <$>
in mind short scalping is for correction, not for a down trend.
sp breaking out 1152 there should be one more down swing to
1140, if broken, 1130, if broken,1125-20. For this scenario,
this 1151 better be not violated before 7:00am Monday. Buy
side: Stop 1135-6, scalp buying bias, target 1142-45 testing,
if broken, 1148-50 again before reverse to short scalping.
after housing report: Short side scalping: Stop 1151, target
1140, 1130, 1123. Mid-day update: Support 1140, market
will bounce after 10:45am to test 1148-1150 again.
Market extended last friday buonce to 1150 at Globex and reversed
to 1140.50 in the morning and bounced after 10:30 AM to 1143.50
trade for 11/16/2001 Friday <$>
CPI report no better than expected
would spike to 1148+ at Globex. If you are still long from 1137-8,
take 2/2 profit at 1148 and ready to scalp to short side. Resistance
1151-2 area, scalp short side after mid-night, target 1145,
if broken, target 1138. Aggressive trade: Can use 1152 stop
for short side scalping. Risk 1~2 pts. Conservative
trade: Wait until market reverses from resistance.
Don't forget to reverse back to buy side 1-2 hours
after the opening.
before CPI report: Stop still 1152, selling bias, target 1140,
if broken, target 1137, if broken, target 1133-32 and try to
use 1130-31 as support to reverse to buy side.
Globex high 1151.50 and plunged to to day low 1130.50, close
trade for 11/15/2001 Thursday <$>
we said before Wednesday close, market would spike up at Globex
and it did spike to 1152.50 again (higher than we had expected).
important numbers for trading range: 1155-1145-1135
1155, scalp short side, target 1145 support, if 1143.50 broken,
target 1135 support . Aggressive
trade: Can use 1153.75 stop for short side scalping. Risk 1.5
pts at most. Then reverse back to buy side fom support.
Market plunged from globex high 1152.50 to 1145-44 and 1143.50
broken; it plunged to our 1135 support and reversed back up
to 1145.50 close as expected.]
trade for 11/14/2001 Wednesday <$>
trading range 1148 - 1133. Buy low, sell high.
retails sales report is worse than expected, market would open
gap down at around 1133-34. Try to reverse back up after mid-day.
the report is neutral, try to scalp short side from range high.
Opened 1148.50, high 1150.50, low 1133.75, close 1143.50]
trade for 11/13/2001 Tuesday <$>
trend is intact. Monday's low 1095 became a new bottom. As long
as 1113 holds at globex, it will test 1137, if broken, then
trade for 11/12/2001 Monday <$>
trend major support 1195. Intra-day
support 1116, resistance 1127. Trading
range 1117-1127. Buy low, sell high. Globex resistance 1127,
sclap short side. (If
you have already shorted from 1126-27 at Globex, take 1/2 profit
at 1123-24 and move 2/2 stop to 1126.50) If
this 1117 holds at opening, last week high might be tested.
If this 1116 is broken, it should test 1111-1107 before bounce
right back up.
date after opening plunge: cover 2/2 below 1100, and ready to
reverse to buy side for target 1120-25 testing; expected close
globex high 1127, opened gap down 1107 as we mentioned on last
Friday, plunged to our major support 1195.50, bounced up to
1123.50, closed 1117.50]
trade for 11/09/2001 Friday <$>
might test this 1129 or above before7:00 AM. Expected close 1120-1125.
Dont try to short at globex below 1129.
and sell off scenario: We would like to short one more time
from 1129-1133 area for target 1103-06
before Monday close (Our favour).
trade: May try to scalp to target 1129+ at Globex and then
reverse to short. If this 1129-33 is intact at globex...
still we prefer to short for target 1103-06 before Monday
close. (Conservative trade: Wait to short). Keep
in mind: Market is most likely to open gap down, shorting after
the open could be too late.
Update before PPI Report: Stop 1127, selling bias before the
opening, target 1108; expected close 1122-25.
Opened gap down and spiked to 1126 high and plunged to low 1111.50,
trade for 11/08/2001 Thursday <$/!>
1023.25 is seen at Globex, stay out of short for the time being.
If you are still short, and see this 1023.25 2nd time, then stay
out of short.
it opened gap up at 1023.25 area try to scalp short side one more
for 1116-1113 target testing (about 8-9 pts from opening high)
with 1127 stop.
stop 1127-6 at globex for re-shorting
first hour close (7:30AM) is above 1113, get ready to reverse
back up after 8:30 AM for 1126-28 testing.
trade for 11/07/2001 Wednesday <$>
trade: stop 1120.50, scalp short side to 1111-1113 first (includng
globex). If sp opened gap up in the morning try to short for the
first 30 minutes.
to reverse to up side again with caution. (Buying is risky now!!)
down (not confirmed yet) should be no earlier than 10:30AM.
Since the down side bias is so ungent now, reversal could happen
earlier than expected.
Update: Gap down open, if 1113 holds for first hour, it will
rally to 1127-30. Try to reverse to short after 10:30AM.
Globex high 1120.50, low 1108.50, open 1113.75, high 1128, market
reversed after 10:30AM and plunged to 1113 and closed at 1119.50]
trade for 11/06/2001 Tuesday (FOMC rate
cut 0.50) <$>
1100, still buying bias, target 1113-1117 before pull back to
are a couple of scenarios. We will mention them after the open.
Update: Support 1098 for buy side. If rate cut is less than
0.50, market would plunge to 1084 for gap filling otherwise
sp01z should keep rallying to 1027-33 before weekend.
Day low 1096, day high 1121.50, close 1120]
trade for 11/05/2001 Monday <$>
with buy side for a couple of days. Another topping for correction
(at around 7th Wednesday) is near again.
short side scalping must be quick. (from 1093 to 1084). Support
1082-3, target 1100-1103.
Day low 1088, high 1108.50, closed 1103.50]
trade for 11/02/2001 Friday <$>
trend is back on track again. support 73 (strong support is at
69-70 area), buying bias into FOMC meeting. (Buying bias with
caution due to terrorist attack warning). If
job report is bad, market will plunge to 1072.50-71.50 for sure,
if broken, then 1067-65; worst (job report) case, all the way
back to 1056.
scenario: (Without consideration of job report) Stop will be at
1082.5-83.5, selling bias, target 1072.5-71.50.
scenario: If job report is no worse than expected (NF payroll
(-) 262,000 & 5.2%), it would open gap up at Thursday high.
update: 1074-1072 support for buy side.
Payroll (-) 415,000, unemp rate 5.4%. SP plunged to 1075 and held
and reversed back up to 1091.50, closed 1089.50]
trade for 11/01/2001 Thursday <$>
range 1053-1065 (or wildcard 1072); try not to short at low.
scenario: If 1053 is intact, scalp buy low , testing 1064-5.
If already shorted before Wednesday close, try to cover at least
half before the opening.
scenario: 1065 area (wild card 1070+) for target 1054-3.
flat, wait for the opening trade. If it opened gap up above
65... try to short again for 1054 target