Intraday Timing for 11/5/07

Note: the information below is complimentary from today's T&C daily Service

Intraday CITs sofar: Open LOD, 10.20 Low, 11.50-12 High. Remaining CITs: 12.35, 12.55*, 2.20, 3.15-3.20* EST. Watch the 12.35 and 12.55 CITs for clues: If a Low, we should rally into the close. if a High, we should sell off into the last hour. Markets remains on track for a 11/6 Lows. Notes on Trading the CITs: 1. CIT (= Change in Trend) Times could be either Highs or Lows. If the markets are rallying into the CIT Time frame, it will be a High. If the markets are declining into the CIT Time Frame, it will be a Low. 2. Intraday Time CIT's are most of the times exact or off by +/- 5, seldom +/-10 minutes to remain valid. 3. CIT's don't work well when manipulation is more likely, like in thin markets, eg before holidays (last week) or in OE week or when a FED intervention is obvious and even announced. 4. Major Price Support and Resistance (SR) also causes CIT's, that's the reason why when Price CIT and Time CITs meet, the probability increases to 90% for a CIT to occur. 5. CIT's don't have to occur at extreme Highs or Lows, they could occur in an uptrend. 6. Not all CITs work, naturally we expect all of them to work, especially if they have worked incredibly well in the past. They work 70-80% of the time, 20% of them don't, especially when the markets go SU or SD. Be patient, take a position, only if a CIT is clear for you. 7. Always keep a 3 point stop under the CIT time, if going Long or a 3 point stop above, if going short. That's the point where the CIT should be wrong in general. If you're in 3-5 SP point profit, move your stop to Break Even (BE). 8. Trade the CITs, not the biases or opinions, etc., just watch what the market is actually doing at the CIT. 9. Be patient, you don't have to trade all CITs, overtime, there will be many more good CITs to trade. 10. The trend is your friend, one possible strategy in daytrading is to only trade with the trend, ie. When the general trend is UP, look to trade those CITs that are Lows. This is best done in Strong Up trending Markets. When the general trend is DOWN, look to trade those CITs that are Highs. This is best done in strong down trending Markets. 11. It's best to observe first how the CITs work before using them, so you get a feel for them. It's best to use them as an additional tool in your arsenal of intraday tools in your toolbox. They should not be used as a stand alone tool, but rather in conjunction with your own intraday buy and sell signals.