Boomerang Trader

Tuesday’s 2 perfect and smooth Boomerang trades

Posted on 09. Mar, 2010 by Johnnyr in Daily Recap

Good afternoon, 

Johnny here for closing hour on Tuesday. What a day! Mohan had called for a higher market today to run the 1147 area and it was spot on.

Look at the chart above.  We had an early Boomerang trade off  the opening (remember: look to wait at least 5 minutes after the opening) and it was strait up off the 1135 area to stretch to 39.00 and higher if you held the runner.

The “stand aside zone” saw the market move higher but look how Boomerang would have just had you standing aside. Red or off red bars with Sell arrows coming in suggests that the market is getting overcooked to the upside.

Sure enough, right around 11:42 pst the Boom Bars turned red and prices moved under the Bias line and Trailblazer sending prices lower in a big way. It was another runner to the downside as you can see.

Today was easier. That is just the markets. When the market is choppy and tight ranged as it has been you have to look to stand aside and not force trades. Thats for amateurs.  Mature, experienced traders know how to handle their emotions and wait for stronger volume based markets.

So it was a solid day for Boomerang. Now time to go have some fun with the money….and pay some bills later.