 She's PERFECT!! The timing system remains perfect!! Closed another (1/4) position for TZA +3% and IWM puts +10% in 10 minutes TODAY!!
Posted by Gary Dean 10/26/11 @ 10:40 am
Here is the "morning notes" I send out to members each morning. Look at the game plan. We covered 1/2 of our short positions yesterday, (1/4) at almost the exact lows. Today, I put out where we wanted to start buying that short position back. Targets to start in on the short side as the indexes gap higher.
Morning Notes to Members:
-----Original Message-----
From: Marketspath [mailto:gary.dean@marketspath.com]
Sent: Wednesday, October 26, 2011 9:04 AM
To: Premium Members
Subject: Morning Notes
GM Everyone,
Futures are up about 10 as I type. It looks like we are
getting the anticipated bounce the short term timing systems were looking for
yesterday.
We have 1/2 a position and we will look to use the
strength to buy back the 1/2 position we sold yesterday. I am going to be
patient with these entries, as the European vote is scheduled today and that
could bring some emotional volatility into the market today.
If they can manage to get the es (spx futures) back to
the 1238 1242ish area, it looks like a good place to start back in on the short
side. ES just hit 1237 after the durable good numbers and to make it to the
1242 pivot, it needs about 10 points higher than the current levels. I am not
sure it can get up there, but it is a pivot I am watching.
TF (Russell 2000 futures) if it can get to the 723 area,
looks like a good place to start back in on the short side. There is a
fibcluster pivot there as well as a R1 pivot and shelf resistance. So that
looks like the sweet spot to add to the short side.
TF 723, should have IWM trading somewhere in the 72.30ish
area and TZA in the 33.68ish area. I am going to use those levels to buy (1) of
the 1/4 positions we sold yesterday back. Above the 72.30 on IWM, I would
expect a push back up to the 72.65/73ish area.
So depending on how much powder you have to trade with,
this is how I would trade today. If the strength continues into the open, we
will look to buy back the 1/2 position of
IWM 70 November puts which sold yesterday at the following pivots. I
will give you the 3 to watch for, but I do NOT believe the last pivot will be
reached.
The instructions below are short trigger zones, with a
specific target in mind. Placing exact entries is very hard ahead of time, so I
like to use trigger zones and then give you the targets. Anything above the
trigger zone will used to take the position. They are usually within 15 cents
of the specific target. Use the target below to buy the 70 November puts and
TZA or whichever instrument you trade. You do NOT need to trade both.
Short (1) 1/4 size position when IWM trades above 72.20
trigger-the short target is 72.35 Opened above
Short (1) 1/4 size position at 72.50 trigger with the
short target at 72.65 (filled)
Short (1) 1/4 size position at 72.95 trigger with the
short target at 73.09.
If you don't have enough powder to trade all 3 pivots and
already have 1/2 a position open, I would be conservative and wait for the
72.65/73.09 pivots to come into play. If they don't and we roll over, you still
have 1/2 a position.
If we roll over before reaching the above pivots, we will
manage the open 1/2 position and look to scale out of this 1/2 of the trade at
the following pivots.
Sell (1) 1/4 size position when IWM trades below 70.75
trigger with a target of 70.63. (filled)
Sell (1) 1/4 size position when IWM trades 70.07 trigger
with a target of 69.92 (open)
That is the game plan for today looking at the per-market
price action. If I see that things need to be changed up a bit or one of the
triggers looks dangerous, I will alert you via e-mail. G-
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