Thursday, December 27, 2012

Dec. 27 - 6J Long Idea, Silver, 6E, CT, HE updates.

Without any true indicators or levels of support, considering a long on 6J. Perhaps for just a scalp, but I believe that it has been heavily oversold the past several weeks, particularly the past few days. Could get a solid bounce to close the holiday gap. More QE from BOJ pressuring the currency.
 3yr, weekly chart VAL & swing low highlighted.
5:50 a.m. - Bidding .011665 for 1. May consider a leg-in trade. Not chasing @ current price .011670.
6:01 a.m. - Filled on 1. If stop placed @ recent swing low = 13t ($162.50) If only taking scalp target of swing high of .011691 = 26t trade ($325) - oe ON swing high .011706 = 41t ($512.50). Looking for .011655 for 2nd half of leg-in.
2 p.m. update: 2nd half filled. Took some serious heat. Opportunity on pop to bail b/e or + a couple ticks on both. Still long 2. Scalped 8t ($100) intra-day on TAT.

Would be a strong buyer of silver @ $28.00 levels. Breakout level from $26 low of year and June POC $28.35. Would also be confluence w/ 78% 'line in the sand' retracement level.
6E moving back into 1yr VAH level @ .13301. Would consider a short, but this could be the time it busts through as it is the third attempt.
2 p.m. update: never reached those entry levels. Flushed w/ ES intra-day.
Some serious flush on CT. Stop management poor on my part. Flat +414t ($2070.)
May have missed the HE short entry. (Entry @ 87.5 - arrow.)

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