Managed a decent profit for the day

[leo]

We were finally filled on a daily order. We had our trade on automatic with a $250 objective on it so when it was ahead over 200 and not quite 250 we missed the profit potential. Those who were at their desk were able to make a few hundred on the trade. We had various intra-day trades in ec,jy,es and us. we managed a decent profit for the day as reflected on our profit chart.
As of this writing we are 30 points below the lowest close in the es during the drop. We have over an hour of trading left so there is a possiblility of the new down leg starting before the close. The leg should have a move of a couple of hundred points on large volume. One should be able to enter the market at that point with a portion of your cash. If you put it all in you will have to put in a reasonable stop and run the risk of being a "bottom picker". Entering in increments will allow you to average your cost and though you may not be fully invested if that is the bottom you won't have as high a risk of being whipsawed. We will continue to take the quick trades and enter on psychological pivot points. We'll leave the long term investing to those with the stomach to lose most of their money before the bottom is in place.