BS"D

Good morning,

Still no definitive Price Action in the markets. Wednesday's
Plunge-Slide Maneuver was just deep enough for the BBs to
squeeze out a few bucks. Glad we too trade Pivot Levels, and
we too squeezed out our few bucks!

DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT

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Pivot Magic Trading
First rule:
"Any time you don't know what
is happening, get out!"
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E-mini ES Z2
Wednesday 10 October 2012

PLUNGE:
Wednesday opens at the Close, and scoots sideways with a few, feeble, Bear reversal attempts.

1 = This flick up 123/failed TTT of the Close is rather slow to take off.

A = Volume elevates (pink arrow), and we are pulled in on a healthy red candle. Advance the
initial stop above the MA.

B = Following an unnerving stall, the tape displays a strong red Marubozu (full-bodied candle,
without wicks). Never know if the troops will rally into the hole punched by one of these
sumo candles. We move our stop to Free Trade and a couple of ticks, and take a wait and see
stance.

C = Late-in-the-Move DVS (pink arrow) tapes a fat red Spinning Top. The ABS today is rather
small, so let's call this a large red candle and move the profit-locking stop safely above the
high of the candle.

Whoa! Before it resolved bearish, almost jumped on ship that S-trap.

D = DVS (pink arrow) exhausts the last of the Momentum driving a giant red candle through the
S1. Briskly move the profit-locking stop above the S1, just in time to get stopped out on the
next (white) candle. +/- 3 points

Price Action bounces briefly, but returns to retest the S1 Support.

2 = Another S1 test (TTT?) succeeds to dribble through the Support. No Trading Interest/Volume.

[SNIP]

SLIDE:
Price Action slides forever sideways atop blue line to EOD close.

PERSPECTIVE
(Daily, bottom chart)

Wednesday tested the LT Trend Channel Floor (blue trend channel lines),
taping a modest red day candle. Vague though it is, the Floor of the
Channel may well prove to be made of cement.

REMEMBER: Trade the Tape, Not my Prognostics!

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

Asher
=] ;-)>

Wednesday's PMT Chart: