Friday, July 11, 2008

A long eventful weekend awaits us


Remember Bear Sterns last March? This weekend, people will be waiting to hear if FRE & FNM will be the next to be bailed out by the US Government.





Today I missed the first 2 hours of trade from sleeping in (worked until 1:30am last night), but I still managed to scalp some good profits during the mid-day. I quit trading around 2:30pm EST, but then the market exploded soon after(about the Time CRAMER came on CNBC), and I new I could get some good scalps from the increase in volatility, and I was right. Overall, I traded 74 contracts and had a good day. Most trades were 1-3 contracts held for 3-6min max, with most trades exited within less than a minute. I screwed up from not holding onto a long that I bought near the bottom. Scalped like crazy today. Very choppy. Block trade signals worked well today. Bonds bearish all day. Bond/stock inverse relationship didn't work at all today. I'm not trading the last 30min. The market was nuts today.




I shorted ZN on the simulator account around 4am this morning and it has been going down all day.

Trading would have been a lot easier if I had just traded bond futures today because the trend was great.

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