Let's Take a Test Drive by Pay$ense

We could quit while ahead, but then I see the ES "print" suddenly 3 points lower at 887 and waver there.

So I entered two STOP orders:

BTO 1ES @ STOP 889
STO 1ES @ STOP 885

p$

One hour of trade left and no one know what the market will do (bathroom time :p).

hmm, orders still pending - ok now SHORT

(I don't like this since the market barely has moved to trigger this)
 
OK There is the movement - instantly drops 3 points to fill the SHORT.

Will this trigger more selling?

I placed my LIMIT 2 points away and was hit.

The reason is because that is the Break Down level and I figure it'll bounce some.

Gain: $100
 
Indeed it did bounce right off the 880.75 level.

Will the rest of today's action shake out even more sellers?

I put in an STOP order to sell at 878.50 or about 2.25 points <i>below</i> the BD (break down) level.

Target: 864

We shall see.

Meanwhile, been looking all day to get the price I wanted in EXM. It is getting close for this covered call play.

Of course at this point we will probably DRIVE HIGHER right into the close!
 
I wouldn't read a whole LOT into today's (thus far) mixed action - after all. . .

BULLETIN >> ILLINOIS GOV. BLAGOJEVICH SAYS HE'S INNOCENT AND WILL STAY IN OFFICE

:D

. . .but anyways, a little levity never hurts!

I added an order to BTO at 884 with a 1.5 point STOP as things may move solidly higher as well with 15 minutes to go.

Edit: it got filled, now awaiting either STOP or <i>movement</i> into the close (or one then the other, which is not good).
 
Late action dulled. Position STOPPED for a $75 loss - but we live to "trade another day".

Expect muted action throughout the rest of the year.

pay$
 
You must log in or register to reply here.
Back
Top