Trade Log

Hello Traders-

Tuesday was a true 'no-bid' trading session, and we have really started to see this phenomenon taking hold over the last couple of weeks. Whether or not the government 'bails-out' the Gordon Geckos on Wall St., the economy is 'in for it' to a certain degree (nobody with a bow tie wants to admit this). What we are seeing right now in the markets is a classic case of value searching. The market is experiencing a great deal of emotionally charged trading, which will always present any trader with a challenge. In the end, the market will somehow and someway cleanse itself of any effects related to our current situation, but it's really going to take some time. Stick to what is working for you, look for higher probability set-ups (it's okay if this means not trading as frequently), and always keep an objective viewpoint of your emotional state. This is the typical trade that has been working for my strategy lately.

Trade Log:
Buy to Open: 10 NDX OCT 1450 puts @$7.00
Sold to Close: 10 NDX OCT 1450 puts @$7.60

This trade took some time to develop once it was put on, actually a bit more than I usually enjoy, but the JS Services pricemap was showing a strong signal and price/volume continued to respect their key levels. As always, the live SnP pit feed confirmed the engery of the trade associated with these price levels, and in doing so confirmed the trade signal.