BS"D

Good morning,

With one exception, Thursday was a very narrow range sideways
day along the underside of the R1. Late morning, we stumbled
into nice profits on a sudden, single-candle, plunge. No
idea what happened, but we jumped ship with alacrity and
pocketed a nice bit of change!

TGIF!!!

Enjoy and be well,

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
Thursday 29 November 2012

Our session opens gap-up at the R1. After a protracted struggle with the Resistance, Price
Action dips, stalls, and returns to retest the R1.

1 = A 2-bar kicks off with a 2-candle 123. Volume is low, but that doesn't affect a bear entry,
especially toward the Close. We enter on the kickoff candle, and advance the stop above the
MA, for controlled At Risk.

Price Action stalls, but is easily contained by the MA Resistance.

A = Sudden huge DVS (pink arrow) pumps a gigantic red candle to tap on the Close and retract,
a Pivot Scalp exit signal; whereupon, we exit immediately. +/- 7.25 points

NOTE: Even if = A had not tapped and retracted, we would
have followed the First Rule, "Any time you don't know what
is happening, get out!"

2 = Volume is supportive behind this 2-bar Reversal, but the clock says lunchtime is due AND
we still aren't sure what is happening. I'd pass (good ole risk-conservative me), but if you got
pulled in on the Twin Towers (pink arrow) Spinning Top, you got a quick practice in SCRATCH!

Following another Bull volume burst, lunchtime sideways drift sets in. Price Action drifts
along the underside of the R1 to EOD close.

PERSPECTIVE
(Daily, bottom chart)

Thursday followed through on Wednesday's large white
Bull Dragonfly day candle, with a small but healthy
white candle.

BEWARE OF TRAPS ON FRIDAY!

REMEMBER: Trade the Tape, Not my Prognostics!

BE PREPARED FOR ANYTHING, AND GUARD YOUR FUNDS!

Asher
=] ;-)>

Thursday's PMT Chart: