Journal - 10/18/04

Incorporated Time and Sales in my trade strategy starting today. Will be on the lookout for big block trades at support or resistance areas for possible bounce or breakout/breakdown.

Made 1 trade in a generally sideways market.

09:46 - L ER2 2 @ 566.5 stp 565.9 - countertrend, 3m cci div, t&s print of 84 on the buy side at 566.5 after two bar drop on the 3min chart, flurry of buys came afterwards supporting the long position
09:47 - Exit 1 @ 567.1 +6 ticks - Scale out, stalling a bit here
09:49 - Exit remaining 1 @ 567.5 +10 ticks - stalling here, take profit on countertrend trade

Note: Time and Sales printed 101 around 10:25 @ 567.7. Price went up +6 then back down to 567.4 before going back up again. Did not chase it at 568 when I saw it.