I bought close to yesterday's LOD 889.50. 888.25 was not yesterday's LOD. So my 15 pt range is 889.50 +15 which gives 904.50. The high was 906.50. Close enough.
Now for today. I sold 900.00 x2 stop 901.00 because of the double top made. I think we head down a little before trying a little bullishness. As usual, I will take 1pt off as insurance. I see support at 897.00. There were incursions towards the 54EMA on the 15min. I would say 3 times though the consolidation since 1800h EST electronic open to 2020h EST would consider it as 1 incursion. The more times they hit that MA, it will most likely break. Depends how the bulls defend.
I am exiting the 2nd as a Cookie Cutter. 893.50.
Go here for the Fed's announcements. http://www.msnbc.msn.com/id/3683270/
Warren doesn't think it's green. That is not assuring to investors.
And this news made the spike to 900.00 and I exited. I wouldn't stay to 901.50 because I had made my high target and beyond. Money on the table for the taking so take it. Bird on 900.00 is worth that 14.37 pts I made. Meeting 901.50 or 906.50 target would fan my ego and may not be good for my trading psyche.
The Commerce Department said durable goods orders rose 1.8 percent in May.0000h EST Stopped out. Slippage 0.5pt. -3.18pt
0006h EST Sold again at 901.50 Stopped out again. Sudden bullishness. Slippage again of 0.25pt. -5.85pt nett. Not good. Look at this spike!
Watching. I have a daily projection to 911.00. Stupidly, I should not have sold against the up momentum number. I should have bought.0021h EST sold 906.50 x2 added 907.00 x1 If the price action does not go below 906.50, I am scratching the trade. This will be my last trade for today if I scratch it or get stopped out.
0101h EST made some plotting, the 20 Jun swing high to 24 Jun swing low 61.8% retrace is 908.25. It just hit 908.50. I do not know what news brought about the spike. Maybe somebody could enlighten me. All I know is stops are made for these. Always trade with stops.
78.6% retrace is 914.75
Making 9.5pts gain at the start of a new day in 10 mins is not exactly a pattern that we can trade with.
0153h EST +1.5pt exit. -4.44pt nett. Stop above the pivot high. 909.00 Target 901.50 and a position 891.50.
0309h EST exit end 902.50 stop 907.00, exit 3rd 902.75. Could not reach the objective 901.50, shy of 1 tick and it ran up. Have to do a "flatten" position button to exit. +3.63 nett. Shy of my 4pt min target by 1 tick. What a recovery! I'll stop now and wait for 0830h EST. The dreaded GDP, Jobless claims and Corporate Profits news.
1037h EST to cut a long story short. I broke even, gave back my profits to the market as I tried to short the rally in the open. Nett ZERO. I am currently in a short where the market hit the up momentum line and failed to close above it. Risk management made me take 1 off so +1 pt. Letting the last one ride down. I think I'd better stick to Globex sessions.
1130h EST Done for the day +0.83. Stop was at BE since that last post. I went to pack for the excursion to the Marina Barrage with the girls tomorrow. Should have just sat on my hands. Well +0.83 nett is better than a negative.
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