Today's Trading Recap: 10/23/09

HOW OUR DAY WENT:

We planned to short early strength that
reversed from around the 1091.75-1092.25 zone and the ES
popped up to 1092.75 and headed down immediately. A 17
point drop to 1075.75 followed. The group was told that
1082.50-1083.00 shouldn't be exceeded, and the ES reversed
back down from 1082.50 and gave us a 9.50 point drop to
1073.00 before bouncing a bit. They dropped back to
1072.50 (1072.75-1072.00 was a good fixed support zone)
and bounced to 1078.00 updated resistance. The ES poked
over 1078 by 1 tick, then reversed and dropped 4.75 points
to 1073.50. The next bounce reversed at 1077.50 and then
the ES dropped 6 points to 1071.50 before bouncing. Though
impossible to get (or even consider getting) top and
bottom tick on each swing, that totaled 37 points of
travel range (opportunity) from our shorting areas, so
Mr. Volatility is back for sure!

Good Trading,
Mike Reed
TradeStalker.com