Wednesday, May 09, 2007

May 9 Trade Summary $115




Trade Summary-
Only trade the first hour, and it was choppy. Kept to quick scalps and now I'm done.

P/L= $115 (2 RT ER2, 2 RT NQ)

Market observations-
Time reversal at 7:10 volatility spike, met with block trades
NYSE A/D gave long signal after its strong opening reversal
SMH and XLF look bullish and XLE is currently bearish to flat
Bonds bearish, Euro bullish after yesterdays beating
Expecting slow trend up until FOMC announcement

I closed the positions on the trade expirement- P/L= $293

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