Thursday’s Market Hurricane using Boomerang Scalp Trader

Posted on 07. May, 2010 by Johnnyr in Daily Recap

Good afternoon. It’s later afternoon Friday and after catching my breath I wanted to show you an update on how amazingly well Boomerang Scalp Trader has been doing.

Obviously, our patience payed off in waiting for the market ranges to open up and get back to REAL trading without all this contracted price movement.

Daily Directional Forecast on Monday had warned that :

” We have China on the verge of a crash along with Europe walking a tight rope. All we need is one really scarry surprise from Europe or China and the party could end with a strong downside move across the board”

Well, thats exactly what we got mid session Thursday as prices refused to bounce. Once they plowed through the 1100 handle things got really ugly.

I am showing you the Boomerang Scalp Trader charts primarily for purposes of seeing how well Boomerang trades the ebb and flow shifts in the market. Trading on this day was high speed, full of whip saw and extremely dangerous.

I showed the charts down to the final blow out to the 1060 area as there was so much data printing. After that it was a massive Whip Saw move higher with intermittent high speed pullbacks and run ups. It was only for the brave and experienced who have been in these type of markets before.

Boomerang Scalp Trader does not recommend that newer traders even think about trading in these type of markets. Stand aside and WAIT. The markets will return to a more normal volume/price flow soon. If you are highly experienced in trading and using Boomerang then go for it. Just remember to get those stops in there for protection.

Below are the Boomerang Scalp Trader charts for that day with my comments. I’ll be updating here on this blog a lot more regularly now that the market is trading like a REAL market.

Have a nice weekend and watch your email for the next update early next week. Johnny

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Tags: day trading, e-mini, emini, indicator, S&P 500, scalping

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