Timing Market Turns 3 - 04/26/2006

Housekeeping:

Doc Z., you have mail.

Ms. Ivy, you just can't trade from a cell phone or PDA. I have 2 Blackberries. But that is not the reason for requiring an ISP. Sorry, no exceptions for this list at this moment. Perhaps in the future we may have a service to work with that micro technology.

Here is a digest of yesterday's (04/25/2006) messages:


Update 1545 EDT

A RTH close under SPX 1298 will keep us short in all of the TT Swing
positions. If it does not close below that level, we will exit to
cash in all three indexes.

At this time, a close below SPX 1298 does not appear likely.

We remain in cash for the PT trade positions.


Update 1430 EDT
We may exit the entire TT short Swing position at the close of RTH
if the SPX does not close below 1300. We expect a minor downward
move, at least, before the closing.



WBB


______
Update - 1100 EDT

In the PT, we have taken profits in 50% of the personal trade(PT),
in all 3 index instruments at first support in SPX. We used SPX
1302 as our trigger today. That leaves us 25% net short in our day
trade/scalping position. We will exit to cash sometime today in
the PT. It's a day trade.

We remain 100% short in the TT Swing position.


______
Good Morning

Today is Tuesday, April 25, 2006

This information is for educational and informational purposes
only. The information and data that we trade on is based in the
various levels below. It is for our personal use and is shared
with you for solely informational purposes.

Reporting today:

Consumer Confidence - 1000 EDT

Existing Home Sales - 1000 EDT

Our Daily Parameter Metrics-

SPY QQQQ DIA

S/R - 130.25/131.25 42.15/42.33 113.0/113.5

Stop Loss - 131.35 42.41 116.61

Profit Target - 129.20 41.00 112.1/110.3


SPX NDX Dow

S/R - 1302.4/1311.25 1688/1720 11300/11365

Stop Loss - 1312.40 1728 11375

Profit Target - 1300/1293/1285 1685/1663 11178


Upward wedges characterize yesterday's index action. We will keep
a tight rein on all these. Planned email updates at 1100 EDT, 1430
EDT and by 1545 EDT. Other comments may or may not appear on the
blog.

We don't want to let a sharp rally near the open make us jump out
if it's a failing rally. A spike upward will most likely mean a
follow through and we might immediately take off the positions
before hitting resistance or stops.

The above thoughts and parameters for this short trade are not for
only the TT trade, but intraday levels that we will trade (scalp)
around. We will clearly define the TimerTrac(TT) and personal
trades (PT) with the abbreviations.

TT - 100% Swing short SPX, NDX, Dow 30

PT - 50% Short SPX, Dow, NDX

At intense or in fast markets, we may post to the blog also, so as
to notify all that a message has been sent to this list.

Tight stops are going to take some traders out this morning but we
expect the upward move that began overnight to finish within the
first 90 minutes of RTH. We expect a declining move to break
through the lower level of yesterday's upward slanting wedge after
the morning session's opening upward move.

Failing that scenario, we will exit all short trading positions in
the event of a sharp upward break of resistance.

Good Trading and God bless you all.

WBB