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Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Thursday, September 20, 2012

FRIDAY

Tomorrow is looking more bearish. But if the market opens and start moving up (which is very likely), then expect a Gravestone Doji or Shooting Star day. That is, if it moves up in the first half of the day, then expect a reversal lower in the second half ending the day flat (Gravestone Doji) or tiny up/down day (Shooting Star).
So if the market starts by going up, look for the opportunity to play the downside when it shows up.
Use 1458 and 1465 as a guide for Friday's trading. But keep in mind that if it gaps open above 1462, then expect a reversal lower very early in the day for a much bigger down day than a Gravestone Doji (starting between 1462-1465).