11/03/10

I did splashed down into the trade because: 1) $add during last couple of hours was strong relatively to $spx; 2) $trin was bullish (near 0.7) and finally, already few minutes after my entry 3) NQ posted higher high. Trade was close by the take profit order, placed earlier on the reasons: 1) irresponsibly sharp (relatively to session internals) upside move; 2) 1147.5p ES (one tick above my tp order) was yesterdays last highest point when bulls failed to post fresh year high - strong resistance level. All at all, ES was now at a phase of trying to post fresh year high. It's too volatile, rare and risky moment so it was better to pass it through.