17/06/10

Todays long position was absolutely based on VWAP strong breakout rule, I have revealed at the past month. Want to emphasize, like I have mentioned before in the rule notes, that VWAP breakout pattern have executed perfectly even on the back of internals that were not in favor. Internals were bearish w/ 19 $ticks below -1k versus 3 $ticks above 1k. The position was fixed by the take profit order placed near session previous interim high.

16/06/10

Rushed into the long position, cause the following issues were revealed:
1) energies - the leading session upside pusher - was bullish w/ no lower lows unlike ES and majority of sectors;
2) internals were also bullish w/ only one $tick below -1k vs 5 $ticks above +1k and one $tick above 1.2k.

But I have made double mistake.
1) the contract I have opened was the old one futures, already expiring, w/ low volume respectively;
2) the reasons of the entry were really not cool, weak.

15/06/10

Two hours before the day finish opened long position on the reasons:
1) majority of the sector were at the brink of higher highs;
2) $add was trending higher;
2) $vold was trending higher;
4) market internals were in favor w/ 6 $ticks below -800 vs 5 $ticks above +1k and one $tick above 1.2k.

Fixed the position as it was revealed, that the position was based on already expiring contract w/ low volume, respectively.