DummySpots.com

First a quick look at The Market Today:

The S&P is just a big tease, easing so close to the all-important 1326 level. C’mon, sweetie. We need a conclusive break on high volume.

The Qs are likewise farting around. For them it’s at the 40 level, of course. Remember, I said in my Caution: Resistance at Hand post (last week) to expect some turbulence. Keep your stops fresh. Make sure they’re exactly where you want ‘em in case of a failure.

While we’re talking about stops, the stop on the most recently published CSCO trade stays the same, as today printed an inside bar.

Ah, and how about the unpublished trades? Well, I waded into the river and took a couple of day trades this morning, as I was lucky enough to work 12-8:30pm at my keep-the-kids-fed job. I managed to get short on Broadcom above 29.00, as the extended run “up” reversed at noon (EST).

Since I was due at work at noon (CST), I had to put in a stop limit cover order and leave it alone. It took me out on the 1240 EST bar, with a whopping 2 cent gain, before commissions. If I’d had the entire day off, I would have been able to get short again on the next (profitable) drop on the 1320 EST bar, for a gain of 30 or 40 cents. But then life’s just a big set of compromises, no?

This is a beautiful chart anyway. It’s not often you get those nice smooth upswings and downswings, higher lows then lower highs, etc. I’m sure lots of folks paid their rent with this one today.