Quote of The Day "There seems to hover somewhere in that dark part of all our lives... an objectless, timeless, spaceless element of primal fear and dread, stemming perhaps, from our birth... A fear and dread which exercises an impelling influence upon our lives... And, accompanying this first fear, is, for the want of a better name, a reflex urge toward ecstasy, complete submission and trust."
-- Richard Wright
The danger of irrational but pervasive fear.
Note: You can click either the ES or the YM chart image below to see the end of day Power Zones wrapup. |
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ES 15m Today was another narrow range, fairly thin day... perhaps anticipating OEX (options expiration) tomorrow.
It was definitely a day that made me glad (again) that I limit my risk by limiting my size and let my process do the heavy lifting. I lost a total of 8 ticks on 2 Bias trades. When you measure that against the possibility of having made 20 ticks on either of the trades, they were trades (and losses) well worth taking. |
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YM 15m Here's a look at the YM (Dow Mini Index Future). The overall movement is basically the same as the ES... the only real difference is each tick is worth $5 as opposed to the $12.50 of the ES. |
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SPX Index Daily Both SPX and SPXL continue to hold serve above the triangle pattern. |
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SPXL [Leveraged SPX Index] Daily |
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| TAOST Bias A net loss on the day for the Bias... -8 ticks. Interestingly, one of the traders in the room managed to catch it correctly and got her daily goal.
Click to see Bias Trades... |
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Chart of The Day
Visa [V] is today's chart of the day... There's no slowdown in spending from V's perspective. Of course, there will be a significant pullback at some point... but it certainly doesn't look imminent. |
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As always, make up your own mind and mind your risk no matter what you do.
KIS,
The Trader
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