Sorry For The Lack Of Posts

Hi Guys,

I have had anything but a quiet summer. I started two businesses in the past month and have had a slew of guests staying with us. I haven't spent more than a few minutes watching the markets these past several weeks.

I hope to be back in action in the near future as things quiet down a bit. It should get easier, but you never know. I'll let you know. Thanks for all the support and your kind posts.

MG

Short From The High

Hi guys,

I wanted to show you the evolution of a trade I took today. I only had a few minutes to trade today and I got lucky that a good opportunity was present in my limited time. Start from the top picture to see what I was seeing and thinking and check out the pictures below to see my exits.

The top picture shows how dramatically delta momentum had faded on the move to the top. I had great certainty that we would get (at least) a small pullback, so jumped in with little concern.

Even with the big move up, and how much the day looked like it might be a trend day, I just didn't fully believe it. I scaled out after 3 pts at the 1 SD of VWAP. I wanted a profit in case this was just a small pullback. However, I really thought there would be more available on this move. I didn't really think the market would sustain a trend move following such a big gap and up move.

I hope it helps,

MG

Long From Low

Hi guys,

Here is a nice trade I took this morning. I wanted to show you all of my reasons. With all I was seeing, it didn't feel 'scary' at all to take a counter trade long even though it really looked like the sellers were in control and ready to put in a new low.

I got in at 966.50 as I really wanted to get in close to the key low of 966. I took 2 pts off (in case I was wrong). I got 4 pts each on my other two contracts near the vwap.

Have a great day tomorrow.

Hope it helps,

MG

Singles With Volume Behind It

Hi guys,

I have mentioned a number of times how I like Singles with volume behind them to lean on. I will be watching closely for the opportunity to go long on a retracement to these levels. I usually prefer the first Single of the day which represents the breakout point. However, the second Single has so much volume behind it, it may be very enticing.

Have a great trading day tomorrow.

MG

A Couple of Upcoming Classes

Hi guys,

First off, let me say that I'm sorry to have not been posting as regularly as usual. I am on a bit of a summertime schedule. I usually take a little break from regular trading in July and August. I will be trading off and on the next couple of weeks and will post anything I see that I think will be of interest to you.

A couple of posts back I mentioned a couple of classes by Kam Dhadwar. Just a reminder, he's doing a class on Trader Psychology on Wednesday. It's pretty reasonably priced and I will be attending. I hear that he is really good at this work. If you need some help in this area (and who doesn't?), you may want to check it out. Scroll down to read the posts.

Also, I just got word from Michelle at IOAMT that Bill Duryea will be doing an online 5 day intensive in September. The just confirmed dates are Sept 14-18 from Open to Closing plus a conference call at the end of each day for questions.

I have no idea of the price but I certainly hope to be there for this intensive. He constantly blows my mind with his knowledge. Hearing him speak, I am constantly reminded how much more I have to learn. I'll let you know when I have more details.

That's it for now. I hope to get a few hours of trading in tomorrow, but I have a big class to give in the evening and need to still prepare. Have a great day.

MG

Point and Figure Perspective From Bill Duryea

Hi guys,

I thought I'd show you an interesting look at the market from Bill Duryea of IOAMT, using Point and Figure charts. Make a note of the levels. Don't forget about the key levels above. The market certainly didn't forget today, as you can see.

Hope it helps,

MG

10 Day Perspective

Hi guys,

I didn't get to trade today as I had a very busy workday in my practice. I hope you did well. Here is some of my preparation work for tomorrow. Notice the levels I have marked. Also, notice the high volume clusters showing as dark blue. These are the levels I will be watching over the near future.

Also, notice that while we had a quite large cumulative delta for the day today, the big boys were not participating very vigorously. So, let's see how that bodes for tomorrow.

Have a great trading day,

MG