NEWS WILL BE BLAMED FOR BUYERS GETTING BETTER ENTRIES 7/6/12

BOT TRADING SYSTEM

EMPLOYMENT news was not great nor devastating:  just not at the outlook values by the market.   Selling runs the ranges and moves to +5 then +10.  A nice profit taking day at the beginning of the month and, the underlying theme, a better long entry for the bulls as PA rose back above the coveted 1350, a close at the Short Bot and our "stop light averages" are back in sync.

Some of the chat for today as PA continued to sell in a bowl bottom before rising.

Target prices were not far off as we were expecting a bowl shape return toward the 1357-60 area.

[08:33] <CM> nice sell bar to break the 57.5 support

  [08:49] <CM> 56 area target
[08:50] <CM> covering showing now  accum may begin at the 1350

  [08:51] <CM> no 5m buy signal yet..

[08:52] <CM> 51.75-52 likely long entry look
[08:53] <CM> exits at 50

[09:27] <CM> second selling leg

[09:31] <CM> b1 a pb in bear trend

[09:35] <CM> ok econ news has played out  mkt poised for a buying recovery  but can be sloooow like yday  ie  range bound day
[09:37] <CM> thinking 1349-50 is a buy for end of day +      (was a +3 at EOD buys)

 09:55] <CM> open range (traders not cattlemen) types will see 51.75-48 as break out watches

(the 48 did break)

[09:58] <CM> x  favor a rounded bottom and a return toward the 57-60 pre release

[10:40] <CM> 1350.25-806.1-2611-12695

The Targets...  were close