Monday, December 10, 2007

Dec 10 $206 on 7c and 200 shares




I knew today was going to be slow and choppy with the FOMC announcement tomorrow.
I traded light and waited for decent setups. I took a little too much heat on my FXI trade, but overall the market was beginning to weaken at the time of its pop (FXI was below VWMA and has had a negative bias the last few days, so I figured it was just short covering), so I held the short and covered near the LOD. I used a limit order to Cover for 1pt on my ER2 short trade after I got a weak buy signal. I should have re-entered the short because I got another sell signal minutes later.

Net P/L= $206 on 7 contracts and 200 shares

Tomorrow I'm not expecting much volatility from the FOMC interest rate decision. The market seems really quiet the last few weeks. The Bond Futures are holding flat ahead of the FOMC announcement after taking a big dive on Friday.

2 comments:

Anything-Goes on 7:00 PM said...

these buy/sell arrows, do they appear right away or a couple of minute after the cancel closes..

HPT on 7:07 PM said...

They appear right away. I wasn't trading off of this chart either.

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