CHART SUMMARY: 5 day moving average crossed below the 20 day moving average so I was expecting after the day before where everyone was shorting the market, that we were going to start moving up. We moved down for the first hour of the market but then moved up until it reached about 11:30 and we started another down trend. There was high volitility on the last 2 hours of the market closing. It seemed hard for me to take a trade today because I wasn't confident in any setups and wasn't sure wether or not to take a call or put. I started trading today at 11:30 a.m.

MY TRADE: Took a trade at 14:56, bought 1 contract of a call at strike price 399. My reasoning for the trade was since we had reached almost the bottom of a down-trend trend line, as well as the low for the day was right at the point I took my trade, so I thought we were going to bounce off the low of the day and that was going to be the bottom of the down-trend, also the rsi was at 37 so it looked like it was about oversold but not at the 30 level yet. So since I thought that we were going to bounce I decided to play a call but after I bought we consilidated for a few minutes at the low of the day, and I had a stop loss at a key level 397.19. After we broke the low for the day a couple times on the 1 minute chart I didn't feel good on my trade but since we hadn't reached my stop loss I was looking for a break even. I didn't break even but I got real close and only took a loss of $5 or a 2% loss.

STARTING $: $535

ENDING $: $530