Not A Bad Start

12:00pm EDT: I remain cautiously optimistic, however a little bounce right here would not be unexpected:

Remember that basic post I put up last afternoon about how simple trend lines can be your most valuable weapon in your TA arsenal? Well, is it coincidence that we stopped exactly at the 25% channel line? I think not – but I’m off my meds, so it might be cold turkey kicking in.

Well, let’s not pop the Crystal just yet – this is but a humble beginning – my account is up very nicely, which is encouraging for such a little move. Let’s see if we get follow through tomorrow, and Monday, and the rest of next week. We’ve been through seven months of bullish exuberance – would a week of downside tape be too much to ask?

Ha! I know what you just thought – almost feels unreal these days, right? After getting punished for months, we all have been conditioned to take quick profits after a drop like that. And I continue to caution everyone – this strategy is going to work until it doesn’t – meaning, one day you’ll cash out and then hope for a reload which doesn’t come until 100 SPX handles (to the downside) later. I continue to focus on the long term – a few more days like this and it actually might starting to pay off 😉

12:11pm EDT: This chart courtesy of Duuuuude – who I by the way remember way back from those OptionAddict days. He was an early supporter of my work (and Berk’s) and although I am not a fundamental trader his insights into agricultural commodities were usually way ahead of the curve.

I love what you’ve done with that fib fan, mate – keep it up! BTW, I’m liking October thus far – not a bad start.