Week in Review

This was my best week so far in trading. I managed to eke out a profit and the majority of my trades at least went my way long enough to move my stops to break even. My entries are getting much better and I'm getting a lot more "looks". My entry technique is more solidified and I'm working on my exits. I had a lot of opportunities to take 1.5R in partial profits this week. I may add this as an exit rule in choppy conditions. As far as the market goes, I think we had three good trading days this week, Monday, Thursday and Friday. The rest were pretty choppy. We never closed above the upper trendline in my previous post and now with the GE earnings as a forecast of what's to come (less solid companies will be reporting earnings soon), a cross below the 50 day moving average, it looks fairly downhill from here. My one reservation is that the VIX never exceeded 24 on Friday. Two reservations, the volume wasn't very high either. It as if the buyers just stepped aside to save their money for another day. So I'm short term cautiously bearish.