short term trading diary 15 07 2009

Morning all

I went looking for todays thread but couldnt see one.

Anyway, as i left the merkets around 1pm in the capable hands of automation, it was hummming along beautifully and abviously someone place a cap somewhere near the close :))))
We certainly have some nice indicators on the daily charts now as well as the 4 hourly's, however due to the rise yesterday smaller timeframes are overbought. Whats that mean, ill be taking some ST plays off the table this morning and then patiently wait for smaller time frame weakness to take advantage of the daily indicators.

15min - 2.77/5
30Min - 2.46
60Min - 2.5
4Hrly - 4.04
Daily - 4.31

CSL i suggested yesterday, is but within a whisker of a stop, but thats the game we play i guess.
ST overnights i also had BHP within 5 cents of my target yesterday and ANZ would you believe closing 1 cent off my target. Most others are just in prfoti stop mode.

Best overnight carry's from my witchcraft suggested the following - TLS RIO LEI

Have a great day all and trade safe, let the market some to you

Regards
Rob