BS"D

Good morning and a good week,

In the safety of the LT SW Channel (Daily, bottom chart, lavender
channel lines), Friday was, of course, full of traps. We had one
nice score (or a VERY nice score, depending) in the late morning.

Our PMT Money Management rules kept us safe from the myriad traps
on Friday.

Rather expecting a Bear Follow-through Monday.

Enjoy and be well,

DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT

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"Don't gamble; take all your savings and buy some
good stock and hold it till it goes up, then sell it.
If it don't go up, don't buy it."
Will Rogers

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E-mini ES Z1
Friday September 09, 2011

Morning session opens gap-down at the S2, and stitches the PL for the first hour. Volume
drops behind a 123 at 10:00, but Price Action does pull slightly away from the S2.

NOTE: ABS is already very bloated today. Expand the exit, stop,
and MPG placements by a healthy amount.

1 = Following a mid-air Reversal (blue arrow), Volume jumps (pink arrow), and we are pulled
in aggressively on a giant red candle completing the 123 continuation "S" through the S2.

A = Giant red candle puts our position into Pivot Magic Trading Maximum Profit Giveback (MPG)
violation. The Twin Towers DVS pattern (pink arrow) and long bottom wick join to indicate a
stall, so we are glad to follow the MPG rules with a mental stop at (expanded) Giveback Level.

B = Average-sized red Spinning Top actually closes lower than the preceding candle. This
suggests that we should expect an S-stall rather than a reversal. This makes things ripe for
the New S-Trap Pull-back Lock-in Evasion Maneuver.

C = If you held tight (if not, +/- 12 points) through the S-trap, you gained several points,
as a DVS (pink arrow) drove a giant red candle to tap on the S3 and retract, signaling a
Pivot Scalp exit. +/- 18.75 points

Either way, nice score!

2 = A 123 retests the S3 Support-turned-Resistance. Even though the Volume is not completely
diminished, a lunchtime entry beyond the S3 Extreme seems an unnecessary risk. Pass.

Volume remains at lunchtime lows as the BBs continue to drink lunch and don't return (except
to offload positions at the close). We shut down early and happily count our chips.

PERSPECTIVE
(Daily, bottom chart)

Friday's large red day candle closed mid-LT SW Channel
(lavender lines) as traders continue to play it safe.
Having successfully bounced off the LT SW Channel Ceiling
(lavender lines), Price Action does seem poised for an
attempt at the Channel Floor next week.

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

REMEMBER: Trade the Tape, Not my Prognostics!

Asher
=] ;-)>

Friday's PMT Chart: