Friday thoughts

400
ES did break over 1214 as expected earlier in day,, but only hit 1220 high, missed the 1222 trgt,,,shorted the 1220 and 1219===CHRIS

358
added more shorts 1219 ES at 358pm---chris

354
at 3:58 pm i will add more shorts if near or higher 1214ish,,swiung===CHRIS

347
took profits on XOM,,,at 7800, from 70 and 72ish---CHRIS,,not waiting for 7830 trgt

337
XOM v close to trgt,,,tight stop,,,to take profits b4 close today---chris

335
addint shorts here 1220,,,,will add more at 1222 trgts or higher, ===chris

330
7820 will take some XOM long profits from 70ish---chris,

328
trying for ES 1222 to short, last 1216,,,either way, higher or lower, short at 345--400pm looks good---chris

326
a swing short at the close is looking attractive IMO---CHRIS

225
1222 es trgt on break of both==chris

223
es spx intraday: es 1212/1214: a break of either is likely to continue in the direction of the break for scalp,,,bias up atm----chris,, of course ES has more resistance right above at 1217, tho it was signif that it cleared over 1208

220
my profit stop on CORN was not triggered, i'm removing the stop (prob for rest of day) and will hold over weekend, will re-set stops on monday----chris

153
watching to see what the 3pm signal reveals, if anything----chris

151
for SPX and dow,,,watching action from 2pm--3pm, then 330pm, to see if MarketMakers and institut pros tip their hand, their signals have been generally reliable lately, tho poss less so today friday---chris

149
mini corn rally as expected in the 130--200pm,,638 upto 641 last, tight stop on half of position, using 3min chart==chris

135
60min corn futures for last 3 days has seen a partial pb from the big huge daily green candle, but bullish volume divergences developing on corn, notice that volume is lower on each 60min red candle on /ZC corn futures---chris,,,so holding CORN unless stopped out for now

128
still no reason to close remaing longs in XOM swing,,,its daily chart much more bullish than spy or DOW, notice that XOM daily has broken out of its rectangle daily

128
bias is for 30min corn rally --chris

125
Watching the reaction in Corn futures /ZC here from 130--2pm,,,an impt time for corn each day,, corn continues volatile moves down but each one to a bullishly higher low,,,see if they buy in the next 30min or sell

1138
XOM  up about $7,,,10%ish==CHRIS

1137
XOM continues higher,,,i'll just keep manually trailing the profit stop on remains shares to lock profits in case of decline, while giving a little breathing room, using the 15 and 60min supp areas,,over 7500 and over 7650 its bullish,,last 7740 from 7060

1137
i'm just observing now for next 2 hours,only the 15min and 60min and daily charts, not 3min, see what happens, then may get some clues to future direction---CHRIS

1044
 those interested in agriculture commod trade etfs could use BAL cotton in addition to CORN,,,also DBA is a diversified agricul sector mix

LOL They also have some very creative names for livestock etfs: MOO, COW,

1043
CORN now almost testing high fromn 3 days ago 4330,,,,needs to sustain over 4340 for target #2 swing,,will watch reaction at the test to see if harshly rejected or consolodates/breaks higher,,,bias is consolod/higher atm imo

1035
Raising profit stop on CORN to 42.20 from 41.68, with 4315 last print,,,giving some room to breathe higher if able,,, next higher trgt at the 15%ish area, up 10%ish now


* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".