BS"D

Good morning and a good week,

Pretty hard to squeeze out a profit Friday. The compressed placement
spacing of our Pivot Point Levels due to preceding small-range days
interfered, and we only managed to take one decent bite out of Friday's
long run to the LT Trend Channel Floor (Daily, bottom chart, blue
channel lines). It was fun to watch though.

Follow through Monday?

Naw, probably a breather day.

But ya Never know!

DAILY PIVOT MAGIC TRADING JOURNAL - EXCERPT

******************************
Pivot Magic Trading
First rule:
"Any time you don't know what
is happening, get out!"
******************************

E-mini ES Z2
Friday 19 October 2012

Friday morning opens slightly gap-down and continues south.

1 = Double Top "P" Signal off the S1.

A = We enter on a healthy red candle. Initial stop advances above the MA. The next (white)
candle taps on the S2 and pulls back. SCRATCH!!

Nice way to start the day!
2 = We enter aggressively on a 123 through the S2.

B = Not sure if the DVS (pink arrow) is the beginning of a long move, or the end of a short
one. Move the profit-locking stop to Free Trade and a tik.

C = Twin Towers (pink arrow) indicates a stall/sag is coming next. Our position is in PMT
Maximum Profit Giveback (MPG) violation. Mental stop at Giveback Level.

Price Action stalls, but gives us no reason to exit early. Stay prepared to fire off the
exit order.

D = Healthy red candle through the MidW. Per our stop rules, move the profit-locking stop
above the MidW.

E = Late-in-the-Move DVS (pink arrow) and a large red Spinning Top candle each warn of
Momentum exhaustion. Consider changing to a mental stop.

The next (white Bull Dragonfly) candle taps on the S3 and retracts, signaling a Pivot Scalp
Exit. +/- 5.75 points

3 = Lunchtime starts off with a Double Bottom at the S3. No move, and no entry.

4 = Could call this a Failed TTT of S3 Resistance, but without any Trading Interest/Volume,
we surely won't enter beyond the S3 Extreme during lunchtime sideways drift.

And thus the day dribbles out, drooping repeatedly to tap on the revised LT Trend Channel
Floor (blue line).

EOD Hiccup (plum lines) is a bit late, but does track the classic "V" check mark pattern,
diving to close EOD at the blue line.

PERSPECTIVE
(Daily, bottom chart)

Friday taped a giant red bomb of a day candle, diving to test the
adjusted LT Trend Channel Floor (blue trend channel lines).

Guess everybody saw through Obama's breakthrough talks with Iran
2-weeks before the election ploy. Perhaps because the announcement
did little more than promise to let Iran off the hook in exchange
for some pre-election PR mileage.

REMEMBER: Trade the Tape, Not my Prognostics!

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

Asher
=] ;-)>

Friday's PMT Chart: