Thursday, February 3, 2011

End of day review 2-3-11 Thursday


So the market played out again as expected. I tried getting long twice on that move down to 1290s area only to be left in the dust. Market traded at my price twice and no fill both times and i wasn't about to go chasing the market. My morning plan called for me to be a buyer if we traded down into 1297-1295 area. As price approached that area momentum picked up and bids were disappearing so i had no interest in trying to get long at that level. My line in the sand was 1290-1291.75 area and after the prod into that level the market quickly rejected it showing me the buyers were active there. So that's where i tried getting long but no go. There was a little scalp trade at 50% retrace after the sell off but i was more interested in getting long and was expecting the market to move back through that retrace level. there was a long playing that range at 1298s but i was busy with work a didn't notice it till later on. Always tomorrow...






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