Official Room Calls: 4/7 trades green for a total of -8.5 points (+10=[3/6*10 + 3/6*14], +16.5=[3/6*5 + 3/6*28], +2, -15, -18, +5, -11) or -1.214 points per trade per contract.

The morning started out excellent, but after the first half hour of trading, we ended up giving back our gains due to the market exhibiting a 180 degree turn about in its character. Per the blog our strategy was primarily to short retracements of the strong down move that pierced through the daily S3 support level (it is rare for the S3 or R3 levels to be pierced). We went in with the mindset of shorting rallies in expectation that there would be continued weakness but the market tricked us and formed a V bottom instead. Could we have saved ourselves from the bipolar monster? Perhaps not, but prudent money management can help protect ones gains. For example, after a successful morning, it is good idea to protect one's profits by cutting back on position sizes if one must trade.

So far Alex has called his trades 239 correct out of 303 trades, with 2 BE trades. We will get them next time Alex! :D

Text Transcript (all time stamps are in EST): http://puretick.com/chat_logs/hotcomm_log_02202007.html

Executions/Track Record: http://www.puretick.com/trkrecord.html

Audio Transcripts:
Morning and Afternoon Session in One (subscribers only): http://puretick.com/member/audio_logs/alex_02202007_full.mp3

Related Blogs/Podcasts (for additional details of the day's action):
Morning and Afternoon Session in One: http://www.puretick.com/blog/?p=122