:- We are at 0.7% for the day and I'm going to back off for awhile. i think spy is looking tired.   10:18 AM
:- Buy to 50% FAS  10:59 AM

We are at nearly 1.8% gain for the day on a fickle morning and a brilliant afternoon.   3:30 PM

I am unlikely to trade again today, unless I absolutely love the setup.   3:30 PM

Of the last 20 days, 13 have gapped in the morning in the opposite direction to the previous day. If the day as a whole was up, the next morning's gap was down, and the reverse - 13 out of 20. In the last 10 days, 6 gapped in the opposite direction to the previous day, 1 was flat and 3 gapped in the same direction as the previous day.  4:16 PM
I'm going to try to buy at least a quarter position in FAS at a good cheap price in the aftermarket and hold it overnight.   4:19 PM
After a little more detailed review, days that were sharply down in the last 20 days number 7. Of those, 5 gapped in the same direction - down. This more detailed view says to hold FAZ instead, though it is a very small study, and not statistically significant. I'm cancelling the plan to hold anything overnight.   4:25 PM
So far for this week, we are 0.42%, 2.17%, -0.23%, -1.5%.  
This week so far we are at +0.8% and for May so far, we are at +3.5% vs. the S&P at -2.5%.
 

Good Morning.
Just watching and waiting for a while.
:- : Buy to 50% FAS  9:34 AM
:- : 30.32  9:34 AM
:- : Stopped out   9:36 AM
:- : still early in the bar  9:45 AM
:- : this is a tough market this morning.   9:46 AM
:- : buy early in the bar and get reversed. buy late in the bar and miss the run.   9:46 AM
:- : A lot of traders just won't touch the first hour.   9:48 AM

higher swing highs are not indicative of a change in trend while lower lows continue to be made.   3:23 PM
:- : There have been at least three of them in this downtrend, with the middle one even following a higher low.   3:24 PM
:- : We're down from a high of 2.8% before the last trade to 2.4% and I don't want to lose any more, so I'll need something really attractive to trade again today.   3:28 PM
:- : Like a break through the big downtrend line, AND a higher high, AND a higher low.   3:29 PM

Our first little rally. I'd like to see a test of the low or at least a clear higher low, but two days running we got left out of big V formations by waiting too long, so we may be a bit more aggressive today.   9:44 AM
 
We're now very close to the open, so we can expect a pullback here.   9:45 AM
 
Buy to 50% FAS  9:48 AM

We have another clear downtrend, so trading here would be extremely aggressive, designed only for scalping dimes.   3:26 PM
:- : If you are not working with "play money," don't try it.   3:27 PM

We got back in after the big pullback and used just the broker window. Boosted our gain to 1.25% with intermittent trades.   3:04 PM

FAS has achieved its own momentum, but unless spy joins the party, it can't last and can reverse very quickly, so it's too dangerous to play it.   12:05 PM

And there goes spy on its correction, with FAS following.   12:09 PM

We're now at 1.3% for the day, including the overnight position that was down a dollar at the open. We're not going to buy this rally. Too much risk of losing our profits. We'll wait for a substantial correction.   11:52 AM

Look at the daily candle now. Quite a difference in feel, eh? And you knew it was possible because we looked at the February ones, remember? This is how we stay out of the quagmire of minute-to-minute investor psychology.   11:56 AM

Buying sharp rallies like this is not impossible. We can buy in small quantities with closer stops, but with 1.3% under our belts, it's not worth the risk or the effort for just a small position.   11:58 AM

Even if today does turn into one of those February candles, there should be opportunities along the way that present less risk than this.   12:01 PM
 

:-  We do NOT want to get stuck in any corrections from this level, so we buy momentum, or we buy large corrections with buy signals.   2:20 PM
and later...
:-  That was my one losing trade for the day, down 4 cents. I leave you with 1.3%. See you tomorrow.   3:03 PM

I've gotten caught several times by minor breaks above resistance and then a collapse, so I was on guard this time.   12:59 PM
A third lower low, so be very careful.   1:03 PM
Going for just a short bounce. Very aggressive - if we do take a buy around here.   1:04 PM

We do not recommend holding overnight as today has the potential to act as a blow-off top.   4:03 PM
We will, however, hold for a breakeven exit on this trade in the aftermarket.   4:04 PM
At closing prices, we are down 1.48 for the day.   4:07 PM
By the way, we now have spreadsheets available that track the performance of every day this year, except for the three days we were on broker screens and not entering trades in chat, and one day that we didn't save the log file for. The sheets are based on trades as recorded in the chat log, and recommended stop levels.