Monday, August 04, 2008

Aug 4 Setup day for FOMC announcement

Right now my next trading goal is to make a ratio indicator between various stock future indices to work on developing a spread trading strategy similar to the one described at the CME website. I'm still day trading my current style, but this is just a side project I'm working on.

Today I pretty much missed all the major swings. I didn't think there was going to be a big move after 8am, but I'm fine with the decisions I made today.

CNBC is reporting some hedgefund blewup in the natural gas arena, so that may be the cause of the selloff in Crude Oil and the commodities. It seems like that happens frequently around this time of year.

My scalps from today (I wasn't at my computer on the afternoon pop, but caught some it after the fact)


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