Trade Summary
20140320
Short 2 NQ 3674.25, 3670.5, +4.0, +2.0
Long 1 NQ 6365.25, -2.0
Long 2 NQ 3662.25, 3662.25, -2.0, -2.0
Long 2 TF 1184.5, 1184.5, +0.5, -0.5
Long 3 TF 1184.2, 1184.2, 1184.5, +2.0, +1.5, +1.0
Short 1 TF 1187.6, -0.5
Short 1 TF 1189.4, -0.2
Short 1 YM 16139, -6
Short 2 NQ 3681.25, 3681.0, -1.5, -0.0
Short 1 TF 1194.5, 1194.9, -0.5
Short 1 TF 1196.8, -.1
Long 2 TF 1193.2, 1192.9, -0.2, +0.5
Long 1 TF 1193.1, +1.2
Total YM -6
Total NQ -1.5
Total TF +4.7
Patterns like yesterday's FOMC volatility don't exist in a vacuum. They echo back. Their footprints come in pairs. And today, the giant's other foot came down with a shock wave mirroring that same decline in counter trend. Some will point to the news. But that's just a cover story. Had the Philly Fed been less positive, or even negative, the talking heads would just point out the sharp selling that preceded the news as 'done in anticipation'. Then they could add, "sell the rumor, fade the news" to their need for a logical explanation and fitting retort to their need to sustain the myth of Efficient Market Theory. The markets are all structure. The news creates waves, but is useless unless the structure is in a position to receive it. When it's not, it's ignored. My biggest mistake today was in not taking a mental picture of yesterday PM's volatility patterns as a good preparation to trading and position runner considerations. The buy signals at the Low-of-Day were were pretty perfect, but without considering the structures need to reflect that structure in mirrored opposites, I retained no runner, even though I had 3 contracts at that LOD. That same lack of respect also allowed too many attempts to short the explosive 2nd trend too soon before its job of mirror in counter point the previous day's decline was finally done. Open your eyes. The market is all structure. Good news, bad news, it's always over in minutes. After that, the structure always tells the story. "The news is meant to confuse..", as my mentor always use to remind me. "Follow the news and you will lose."
