Monday, February 28th Chart and Commentary

Hi Students and Guest's...

Sorry I had to leave early...but here are my observations today. Looked like a pretty good PT, with lots of clues to give you confidence to take the 30-Minute BO after the first hour, and out of a Descending Triangle with only 1 point of risk; also the opportunity to trail the position using the MA Strategy. I had no TradeLog to go by, but I bet if you look at yours and when you had the Magic Numbers it would have given you a point or two.

Another opportunity was just after 12:30 ...remember I always mention about being a contrarian when in that 3 -- 4 point range after the first hour. It looked like it was going to take off to the up-side, and if you took that trade it fizzled; maybe a small loss or a breakeven trade.

On a Monday late in the afternoon I always anticipate that bullish bias move...well you had a DB with a long shadow at 2:05...and when you had the second white candle above the MA or a little momentum you would have an awesome opportunity to pull the trigger. Look at stochastics, and the fast MACD, they were great clues; once again minimum risk.

If you can't see the chart here, go to http://www.simple-as-123.net/charts/Feb28-05.png

Your thoughts?

-Marsh