Posted on February 6th, 2008 at 7:35 PM

As we often do, the other traders and I were kicking around some different trading ideas and thoughts on the current market conditions. In the midst of the conversation, Craig Russell mentioned an Advanced GET Scan he had been working with that was proving quite useful. During today's mentoring session, I brought it up and sure enough it was a hit with the class. I've been asked to post it here to illustrate and document the settings for posterity.

A little background on this setup, we are looking specifically for Stochastic Trades on a daily basis. To do this, we are also looking for clear strength or weakness on a weekly time frame. This can be done by using the Xref Filters on the weekly to search for XTL red bars and buying or selling with the trend on the daily timeframe. Add some volume and price parameters and you're set.

Posted on February 6th, 2008 at 7:38 PM

CME, Nymex Tumble 18% After Justice Antitrust Opinion....

(Boomberg Article)

Long before this opinion was published, the picture that was seen by way of Advanced GET was as follows (Dec 11,2007 to be exact):

Posted on February 10th, 2008 at 10:05 AM

The February 6, 2008 date was in fact a turning point as the market moved up from the low of 888.4. I covered some of the position at 895.0 instead of the 883.3 number. If you count bars from the Jan 30 high of 942.2 we have three days down (with an inside bar) and three days up. By way of overbalance the range of the three days up were not able to match the range of the three days down from the high. In fact in came in pretty square at 61.8% retracement. The China market , a major player of Gold these days, has been closed all week because the the Chinese Lunar New Year. They will be coming back to the market on Monday (actually Sunday night for me). If a reversal indication should materialize, I will look to add to my short position, otherwise I will simply be stopped out at 931.0.

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