VACATION OVER: BACK TO WORK 8/15/13

Nice break for the summer and looking forward to Q4.  Markets are digesting information from the talking heads:  doom and gloom one day to "the sky is the limit!".  The only truth ti the market is relatively simple:

•  big money accumulated and distributes
• big money adjusts their holding mix
• markets advance when a "better" entry price (a sell off or pullback in a rising trend) is made available
• markets decline when a "better" selling price (a run up or PB in declining trend) is made available

 Yesterday, our focus was on a "dick Tracy" style setup.  Oil (CL) rose in an exploratory breakout from a declining trend.  We had a high 50CB, a mid, and a lower 50CB helping direct PA off the trend line.

[12:32] <CM> cl TL coming into the day  with upper and lower 50CB's  gut: we drift back to the mid 50CB (link deleted)

[12:59] <CM> upper 50cb test cl

The upper 50Cb was tested and offered the short trade back to the mid level.  This would complete the backside of the "DT" trade where PA runs lower than the previous (other side of formation).

Targets set

[13:08] <CM> 40-42  t1
[13:09] <CM> 28-31  t2

PA hits targets, the mid and lower 50CB's