Aug
17
2009

  Day 10 of 13 in DIA TD Countdown

It looks like the market's latest push upward is losing steam. After a 21-day setup (all you need is NINE days to complete a setup, more than that is an indication of momentum), DIA is on day 10 of the TD Sell Countdown. The market took a pretty steep drop today (2%), so I wonder if it it will actually finish the countdown to day 13. The market needs to close above the high posted two days prior three more times if I want to use that signal to buy more short ETFs.

It's around $91 now, and if it finishes its pattern around this price, I suspect it will fall at least down to $81. A $10 swing is a pretty safe trade, in my opinion, based on my techniques and strategy. So I might place a larger trade this time, IF the pattern plays out right.

It is difficult to remember that I am trying to be a stock trader when I have a needy baby hanging around all day. But I am trying to adjust my expectations to find a way to get back to trading. I think I'll have to give up the idea of being able to monitor the tape and chatter for most of the trading hours like I used to be able to do. But I think it IS reasonable that I should be able to find a little time every day to update my charts, and then arrange in advance for Terry to watch William most of the day only on days when I actually will place trades. With my intermediate-term swing strategy, I certainly don't have to place trades every day. It's not even once per week, although during crucial weeks I may have to place several trades around the same time.

I will certainly miss some opportunities by not monitoring the trader chatter, but it is easy for me to remember that this is not a permanent condition. William won't be this young and needy forever, and when he's a little more independent, hopefully I can watch the boards at the same time he's playing with toys in the same room as me. I anticipate he will cause interruptions, but as long as it's when I'm doing research and not actually trading, it's not a huge deal. But as it is, his attention span is so short that it's all I can do to turn on my computer and read the headlines of the articles before he needs me again, so it's too frustration to attempt to research much now. I'll just do the charts, read what I can, and wait. Oh yeah, and like everyone reminds me, "be sure to enjoy this age, it goes by so quickly." It doesn't FEEL particularly quick right now, but whatever. Hopefully tomorrow he'll be in a better mood. I'll try to take William to the lake again, he napped pretty well there.