07:35am Just got my charts up & running & was rather surprised to see a huge spike in the ES Globex PRICE. It hit a high of 1398.00 & a low of 1374.50. Trying to find out from the newswires as to what was the reason for this spike. Was it the rollover? Not sure if this is the reason, because for the YM (Dow Emini), there isn't any spike at all...
If anyone knows the reason, please drop a comment or write me an email. Thx!
For the benefit of those reading today's posts, who are NOT from this part of the world, it's another Holiday eve (for most south east asian countries). So, it'll be a rather relaxing day. Had a nice drive to my daughter's school just now. Not many cars on the road.
Will also be going to an Exhibition Squash Match this evening at the Kallang Squash Courts. It's been a long time since we had such games in Singapore, so it is a welcomed treat. It's between a former World No.1 (Peter Nicol) & a current Professional from Malaysia (Azlan Iskandar) & it's being sponsored by Prince.
09:16pm Will wait for the opening bell before deciding what to do.
10:04pm Current PRICE movement has a upward bias...no failure yet. Judging from the TREND chart, LONGS are still ok (going up to challenge 1398.00 - which is pretty far away) until a failure. No Trades as yet. When I am uncomfortable with what I see, I stand aside.
10:12pm I wonder how many traders were going SHORT, as PRICE kept moving higher...Isn't it always the case? the market will just prove them wrong by stopping their SHORTS out!
10:54pm Looking for a SHORT here. Minor PPF. TREND still up but PRICE going down to challenge 1370.00
11:11pm Again, no trade was taken. PRICE made a higher high, even though there was a Minor PPF at 10:48pm. Looks like no failure still. Will now consider a LONG with a pull back in PRICE. Will observe carefully.
11:30pm If going LONG here, PRICE must BREACH the last high at 1383.75. Still not comfortable with a LONG, especially when the TREND chart is looking to challenge 1370.00
11:37pm SHORT 1381.75. STOP 1382.75
11:45pm Stopped Out. - 1.00pt. Will try for one more SHORT before calling it a night.
11:48pm SHORT 1381.50. STOP 1382.50.
11:52pm Stopped Out again! - 1.00pt. Really hate this kind of PRICE movement. I wouldn't be surprised if later, on hindsight, my two STOPS tonight were too tight. Hmmm...maybe not. LOL
12:24am LONG 1383.75. Tight STOP at 1383.00.
12:32am Out at B.E. PRICE looks weak in breaking thru the last high 1384.25. That's all for me tonight. Total of -2.00pts
Monday, October 23, 2006
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2 comments:
Last nite was tough. The price spike threw everyone off.
With your way of trading, I am without a doubt that you are profitable in the long run.
Good trading,
Space
Hi Space,
again, thank you for your kind comments...How are you coming along, in your trading. Good, I hope.
There were some "illogical" price movements last night, which threw off the reading of the PRICE movement. Current Globex PRICES and last night's BREACH on the trading chart does seem to indicate a SHORT bias tonight. We shall see.
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